Microeconomics: Principles, Problems, & Policies, 20th Edition

Published by McGraw-Hill Education
ISBN 10: 0077660811
ISBN 13: 978-0-07766-081-9

Chapter 18 - Public Finance: Expenditures and Taxes - Discussion Questions: 3

Answer

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Work Step by Step

The federal government gets most of its money from income taxes and spends most of it on social security (which has slightly higher spending than medicare/medicaid). State governments spend most of their money on welfare programs and get most of it from taxes (which type of tax depends on the state).
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