Principles of Macroeconomics / Unit 14 MAC 1311 short lesson, about 20 seconds
Where Federal Revenue Comes From
Captions available
The idea
Two taxes dominate federal revenue: the individual income tax, which is the largest single source, and the payroll tax that funds retirement and health programmes. Most households pay more in payroll tax than income tax.
In practice
Corporate income, excise and estate taxes make up the remainder.
Where people slip
No rate or threshold is voiced here, because the anchor's are out of date.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
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