Monday, September 11, 2023

Government Revenue

Let's look at this in the abstract. 

To understand specific spending, the most accurate place to look is the appropriations bills on the national and state levels. For specific information on local spending, look at their respective budgets. More on all that later.


- Wikipedia

Government revenue or national revenue is money received by a government from taxes and non-tax sources to enable it to undertake public expenditure. Government revenue as well as government spending are components of the government budget and important tools of the government's fiscal policy. The collection of revenue is the most basic task of a government, as revenue is necessary for the operation of government, provision of the common good (through the social contract in order to fulfill the public interest) and enforcement of its laws; this necessity of revenue was a major factor in the development of the modern bureaucratic state.

Government revenue is distinct from government debt and money creation, which both serve as temporary measures of increasing a government's money supply without increasing its revenue.


Tax Revenue: 

A simple (too simple) breakdown of tax collections within Texas

national - income
state - sales
local - property 


- Tax Revenuethe income that is collected by governments through taxation. Taxation is the primary source of government revenue. Revenue may be extracted from sources such as individuals, public enterprises, trade, royalties on natural resources and/or foreign aid.


- Types of Taxes collected by the Unites States government:

- personal income
- corporate income
- payroll: social security
- payroll: health insurance
- excise taxes

- - From the Treasury Department: How much revenue has the U.S. government collected this year?

Most of the revenue the U.S. government collects comes from contributions from individual taxpayers, small businesses, and corporations through taxes. Additional sources of tax revenue consist of excise tax, estate tax, and other taxes and fees. So far in FY 2023, individual income taxes have accounted for 50% of total revenue while Social Security and Medicare taxes made up another 37%. (Government revenue also comes from payments to federal agencies like the U.S. Department of the Interior. Have you visited a national park recently? Did you know your national park entry is included in government revenue? Other agencies generate revenue from leases, the sale of natural resources, and various usage and licensing fees.)


- Types of Taxes collected by the Texas government: 

The largest sources of state tax revenue:

- sales taxes
- the franchise tax (the state’s primary business tax)
- motor vehicle-related taxes
- taxes on crude oil and natural gas production

- - From the Texas Comptroller:

- - - MONTHLY STATE REVENUE WATCH.
- - - A History of State Taxes and Fees in Texas, 1972 to 2022.
- - - A Field Guide to the Taxes of Texas.
- - - Texas Comptroller: Appropriated Funds/General Revenue Accounts.


- Types of Taxes collected by local governments in Texas: 

- - From the Texas Municipal League: REVENUE MANUAL FOR TEXAS CITIES.
- - The Texas County Government Revenue Stream.
- - TEXAS PUBLIC EDUCATION FUNDING SOURCES.