Well! Federal, States, and Cities are the three governmental level that collect tax revenues.
The best way is through US census bureau and the IRS’s SOI
http://www.census.gov/govs/www/
http://www.irs.gov/taxstats/article/0,,id=102174,00.html
Michigan has over 15% unemployment, reducing tax revenues collected. What is the best way to raise taxes?
29.October, 2009
Every time we propose new taxes on the businesses and employers in Michigan, they move some of their operations out of state.
You have answered your own question.
Raising taxes reduces employment.
Lowering taxes increases employment and collects more in tax revenues.
So the path to more tax money in the coffers is lower taxes.
Do you really believe the government is spending tax revenues?
27.October, 2009
Didn’t those great republicans G.W. Bush and Ronald Reagan cut taxes?
How is it possible that these two tax cutters managed to spend more money than before taxes were cut rather than spending less money after cutting taxes?
Do you still think the government in Washington DC is spending your tax money?
I’m not sure what you mean, but shineon is right. The only thing is, those people are not going to continue to buy our debt if we as a country continue to run astronomical budget deficits. As a country, we are only surviving because we have managed to build up the best credit score in the world. However, now we are abusing that and as our debt rises out credit score will go down.
Proponents of a flat tax believe that tax revenues can actually rise even when the flat tax is lower than curr?
27.October, 2009
Proponents of a flat tax believe that tax revenues can actually rise even when the flat tax is lower than current income tax rates. How could this happen and why? What’s your position on this issue?
Proponents of the flat tax believe that the tax revenue is an optimization function. Which means that it can either be minimized or maximized. In this case, the proponents think that it can be maximized. To keep it simple if the tax revenue is maximized at tax rate X, any rate above X or below X will cause a decrease in Tax revenue. I do believe that this can work.
xtraheavy01: You assert that a flat tax is bad because people who write off their mortgage, interest, and real estate taxes would no longer get that deduction. You are assuming that the home owner would receive a greater value in these deductions than s/he would with a flat tax. There is not enough evidence to support this either way.
You also make the claim that people who donate will no longer get the deduction? I could only guess that you mean people will have less incentive to donate if they can’t write it off. This begs the question do people only donate because they get the tax deduction? This is very cynical.
The rest of your argument is also filled with formal fallacies and erroneous assumption. Too many to mention, however
reading the rest of your rhetoric I can’t help but to feel the deep and profound disdain that you have for the rich. It doesn’t matter how much something helps the poor or middle class as long as the rich can’t benefit from it.
And on a side note being a tax preparer make you no more an expert on taxes than a bar maid being an expert on the LCB.
What happens to the profit (revenues in excess of costs) of the Federal Reserve Banks?
25.October, 2009
—L. It is used to purchase new banks.
—M. It becomes shareholder dividends.
—N. It is turned over to the Treasury.
Jon’s answer is correct and it can clearly be seen on the audited financial statements of the Federal Reserve.
http://www.federalreserve.gov/boarddocs/rptcongress/annual06/default.htm
http://www.federalreserve.gov/boarddocs/rptcongress/annual06/sec6/c3.htm
Federal government’s outlays and revenues differ from that of state and local governments?
25.October, 2009
How does the composition of the Federal government’s outlays and revenues differ from that of state and local governments?
They spend their money on different stuff.
I’m not going to spend my time researching and writing because you’re too lazy to do it yourself.
www.whitehouse.gov/omb
www.cbo.gov
and check any state’s Dept. of Revenue and budget.
what happens if I create a .org website and place advertisements on it to generate revenues?
23.October, 2009
I want to create a small website to disseminate information. The information is going to be original and useful to visitors. But at the same time I would like to monitize the traffic coming to the website by placing ads on the site. Is it allowed? What are the consequences of doing so if it is not allowed?
You can very well put ads on your site, but the issue is to get visitors..Making a site is like an offline business, you have to plan well and execute well..Remember , not all businesses are successful, net is no exception..Hard work, perseverance, patience and single minded devotion is the key.
Here is a video which explains all the necessary steps to make a successful site.
http://mysite.shmyl.com/videotour
You can download this free course and I assure you that you will be more informed to make your business decisions.
http://mysite.shmyl.com/workathomecourse
There are few tips given in the link below
http://affiliates-for-success.50webs.com/website_for_online_business.html
All the best
Daljit
from
http://www.yoga-for-beginners-a-practical-guide.com
What larger issues were there beside tax revenues in Whiskey Rebellion and Hamilton’s report on Public Credit?
21.October, 2009
Further, why did he try to quell the Whiskey Rebellion so quickly and how did the economic effect of his report dovetail with his political philosophy?
Hamilton’s reason was he wanted the tax to pay off the war debt from the Revolutionary War. He justified the liquor tax " more as a measure social discipline than as a source of revenue."
Also, we had recently dropped the Articles of Confederation as our constitution and ratified the Declaration of Independence. Hamilton wanted " the liquor tax imposed to advance and secure the power of the new federal government."
George Washington and Hamilton acted quickly because they remembered " Shay’s Rebellion " from 8 years before and decided to make Pennsylvania a testing ground for the new federal authority.
what way are revenues earned similar to investments by owners? In what way do they differ?
17.October, 2009
There are relatively few types of revenue, including:
- Sales revenue-Greg’s Groovy Tunes earns sales revenue by selling CDs to customers.
- Service revenue- Sherman Lawn Service earns service revenue by mowing customer’s lawns.
- Interest revenue. Interest revenue is earned on bank deposits and on money lent out to others.
- Dividend revenue- Dividend revenue is earned on investments in the stock of the corporations.
Revenues at the end of the accounting cycle are closed to stockholder’s account specifically retained earnings and investments by the owners are also found in the stockholder’s equity in the form of Capital Share.In this sense, they form part of the claims of the owners to the corporation.
Specifically, revenues are derived from the operations of the corporation whereas investments are derived form the shareholders.
My corporation didn’t have any revenues last year – do I still need to file a tax return?
17.October, 2009
I bought a corporation from Wisconsin and I live in Delaware. I fI do need to file a return, then how many – federal and/or DE and /or WI?
You MUST file corporate tax returns EVERY year that the corporation is in existence, regardless of any income or loss.
Many states have minimum franchise fees or taxes that are due even if the corporation has no income. And some states have additional reporting requirements above and beyond tax returns. These must also be complied with.
There are stiff penalties for failure to file any required tax returns or other reports.