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How did US federal government raise money before income tax?
AnswerThrough excise taxes (taxes on businesses), import/export taxes, transaction taxes (taxes on property transfers), sales taxes, property taxes, etc. etc. The government has taxed pretty much everything throughout its time. Heck, they even tax your property when you die (estate taxes).
What triggered the periods of growth and decline of the US federal debt?
debt and bankruptcy
How much does the US government spend on the arts?
43 cents Per American in the United States, this comes out of taxes. Note that this is just how much support the US government puts into the arts, not how much the art industry profits every year.
What is the main cause for US debt?
At its simplest definition, if the government spends more then it gains, in a single year, then it has, what is called a 'budget deficit'. If there is a deficit, it adds to the US debt.
Did Great Britain enforce paying taxes after the Revolutionary War?
After the Revolutionary War, the Us was an independent country and Britain had no authority to levy taxes or to collect them in the US. Of course, Britain continued to collect taxes from the remainder of its Empire.
Does President Obama have a plan to lower US's national debt?
YES, he is going to raise taxes on the higher class.
How much were taxes in colonial time?
Depends on what country you mean. In the US, taxes were MUCH lower than they are today. (and those were considered too high!)
When will the US be out of debt?
sadly the only solution i can think of is higher taxes
How much US Debt in trillions?
Total US Debt: $14.1 Trillion Debt Held by US Public: $9.49 Trillion Debt held by Foreigners: $4.45 Trillion
How much debt does the US have?
We hvae about $3,000,000,000,000 or $3 Trillion in debt =[
How would the US government most likely react to a slump in the economy?
Lower taxes to make it easier for consumers and businesses to spend money.
How much is US foreign debt?
US foreign debt is now over 4.5 trillion dollars a year. China holds a majority of the US foreign debt.
How much is the US national debt?
As of January 31st 2011, total debt of the US economy is 14.13 Trillion US Dollars.
Can you lessen your credit card debts?
You can through debt settlement, but you will also ding your credit score. Now there is also credit card negotiation, which is negotiating a deal to lower your credit card interest rates. This process will lower your interest rate, lower your minimum payment, and allow you to pay off your debt faster. This is a much better alternative to debt settlement. Hope this helps. Any questions you can call us at 954 300 1053 or visit us at http://www.myplasticwallet.com
What is representatve democracy?
In a representative democracy (such as that of the US) the general public elects people to represent them, and those elected representatives then form a government. So if the public wants something, such as, let us say, lower taxes, they don't get to vote on the taxes, but they do get to vote for people who promise to lower taxes.
How much slave taxes were collected by the us during slavery?
How much taxes were collected from slavery in the u.s.
What is a debt ceiling?
Debt ceiling is the limit on how much money the US Federal government can owe.
