The different ways the government raises money in the federal level are:
- Income taxes,
- Tariff Taxes,
- Occupational Taxes,
- Excise Taxes,
- Corporate Taxes.
What is Taxation?
This refers to the process of collecting taxes from people in a given population in order to solve a social problem and increase the standard of living.
Hence, we can see that the government raises money through different types of taxes and they include: Income taxes, Tariff Taxes, Occupational Taxes, Excise Taxes, Corporate Taxes.
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