Government+Federal+Government+Revenue

=**About this Page:**= This page will be about the Federal Revenue (or taxes) of The United States of America.


 * __INFORMATION:__**
 * Congress may tax only for public purposes not for their own private benefit. Exports cannot be taxed.
 * **Excise Tax**- Tax laid on the manufacturer, sale, or consumption of goods and/or the performance of services.
 * **Estate Tax**- A levy imposed on the estate of one who dies.
 * **Gift Tax**- Tax imposed on the making of a gift by a living person.
 * **Progressive Tax**- The higher one's income, the higher the tax.
 * **Tax Return-** A declaration of that income and of the exemptions and deductions he or she claims.
 * **Regressive Tax**- Taxes levied at a flat rate, without regard to the level of a taxpayer's income or his or her ability to pay them.
 * The individual income tax has been the largest source of federal revenue since 1950, averaging over 8 percent of GDP.

"No Capitation, or other direct, Tax shall be laid, unless in Proportion to the Census Of Enumeration herein before directed to be taken."
 * __FROM THE CONSTITUTION:__**
 * "To lay and collect Taxes Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States...."
 * "The Congress shall have power to lay and collect taxes on incomes, from whatever source derived, without apportionment amoung the several States, and without regard to any census or enumeration."
 * "No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by the Law...."
 * "No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by the Law...."


 * __CONSTITUTIONAL LIMITATIONS:__**
 * Cannot levy a tax on church services
 * Prohibition of export taxes
 * Dirert taxes must be equally apportioned, evenly ditributed, among states
 * Indirect taxes levied by the Federal Government must be set at the same rate in all parts of the country



This graph shows individual taxes, corporate taxes, and the total taxes. It shows in 1965 the taxes were under $500, and from 1965 till the estimate of 2008 the total taxes will increase steadily.The estimate for 2008 shows the corporate taxes will be around $345, individual being around $1,220, and the total reaching $2,521.



Income taxes and payroll taxes now account for four out of every five revenue tax dollars. Corporate income tax contribute 12%. Excise taxes, estate and gift taxes, customs duties, and miscellaneous receipts make up the balance. In the year 2008 the government collected 2.5 trillion which is equal to 17.7% of the total GDP (Gross Domestic Product) we are as of now averaging 18.2%. Individual income tax has been the largest source of federal revenue since the year 1950 averaging at 8% of the GDP. Since the creation of Medicade in 1965 in combination with increasing social security taxes has caused payroll tax revenue to increase from 1.6% to 6%. individual income tax have provided for more than half of the total revenue since the 1950's and payroll taxes have provided one third of the total revenue in contrast to one tenth in the 1950's.

media type="custom" key="3735581" Trends in corporate tax and taxation of companies in emerging economies. How corporation tax departments will try to avoid paying tax. Future of government regulations and taxation. Video after keynote conference presentation by Dr Patrick Dixon, Futurist, for KPMG client event. How rules of business are changing in emerging markets: China, India, Africa, Russia, Brazil, South Africa (BRICS nations). Why paying corporate tax is linked to corporate and social responsibility. How shifts in public opinion will alter regulations, taxes and government action. Why compliance is not enough for future business success. Management of corporate tax liabilities. Balance sheet issues and valuation of intellectual capital. Impact of corporation tax on company relocation decisions. Shareholder value, bottom line profit and social responsibility.
 * Future of tax, taxes and taxation **
 * //Note: This video was found on google video, the link is//** [|here] **if you want to see the original video, or you can** //**click the drop down on the bottom right on the video to get to that same place. Also, the info above is put together by the man that made this video. I am not going to take any credit for this video, it is for education purposes only. Also, the ideas and thoughts of this man are not of my own. Thank you for reading**//