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Government revenue or national revenue is money received by a government from taxes and non-tax sources to enable it, assuming full resource employment, to undertake non-inflationary public expenditure. Government revenue as well as government spending are components of the government budget and important tools of the government's fiscal policy.
Government revenues mostly include taxes (e.g. inheritance tax, income tax, corporation tax, import taxes) while expenditures consist of government spending (e.g. healthcare, education, defense, infrastructure, social benefits). A government budget is prepared by the Central government or other political entity.
Government spending or expenditure includes all government consumption, investment, and transfer payments. [1] [2] In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure.
There are several government healthcare programs for low-income individuals. Medicaid and CHIP are for low-income adults and children. The Health Insurance Marketplace of the Affordable Care Act ...
Government debt (also known as public debt or national debt) is money (or credit) owed by any level of government; either central or federal government, municipal government, or local government. Some local governments issue bonds based on their taxing authority, such as tax increment bonds or revenue bonds .
In government, each function of a department's section proposes certain objectives that relate to some goal the section could achieve if allocated x dollars. Flexible Freeze is a budgeting approach that combines elements of incrementalism and ZBB and that pioneered by President George H. W. Bush as a means to cut government spending.
Tax policy: The taxes used to collect government income. Government spending on just about any area of government; Monetary policy controls the value of currency by lowering the supply of money to control inflation and raising it to stimulate economic growth. It is concerned with the amount of money in circulation and, consequently, interest ...
To attain an efficient allocation of resources with the desired distribution of income, if the assumptions of the competitive model are satisfied by the economy, the sole role of the government is to alter the initial distribution of wealth [11] – the major drivers of income inequality in capitalist systems – was virtually nonexistent; and ...