Asked by Krista McGonigle on May 06, 2024
Verified
In 2017, which category represented the largest source of receipts for the U.S. federal government?
A) Medicare
B) Social Security
C) Tariffs
D) Personal income taxes
Personal Income Taxes
Taxes levied on the income of individuals, affecting personal earnings.
- Identify the sources of government revenue and the biggest expenditure programs.
Verified Answer
TR
taylor rae brundigeMay 08, 2024
Final Answer :
D
Explanation :
In 2017, personal income taxes represented the largest source of receipts for the U.S. federal government, accounting for a significant portion of the federal revenue. Social Security, Medicare, and tariffs also contribute to federal revenue, but personal income taxes are typically the largest single source.
Learning Objectives
- Identify the sources of government revenue and the biggest expenditure programs.
Related questions
Statement I: the Two Largest Categories of Federal Spending Are ...
A Family's Tax Liability Is the Amount of Money It ...
Individual Income Taxes Generate Roughly 25% of the Tax Revenue ...
The Government Raises Revenue Through Taxation to Pay for the ...
Individual Income Taxes and Social Insurance Taxes Generate the Highest ...