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Wall Street to Your Street

Understanding the budget debate part 4: federal spending

The federal government collects trillions of dollars in taxes each year, and, in recent years, it has been spending even more. That budget imbalance has added up to a national debt of about $19 trillion dollars. In the first three articles we explained where the revenue comes from – taxes on individuals, corporations and other entities – and this article will lay out where all of that revenue goes.

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Understanding the budget debate part 3: business taxes

Corporate income taxes account for only about 9% of the tax revenues collected by the federal government. That may seem like a small number since corporations are generally viewed as behemoths that make lots of money. Some are, of course. But there just aren't enough of them to account for a bigger share of federal tax receipts.

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Understanding the budget debate part 2: individual taxes

Congressional policymakers who hope to keep the federal debt in check have just two options: spend less money or collect more money in the form of taxes. Neither is easy, which is why the debt has continued to climb.

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Fed hikes rates for second time this year

The Federal Reserve Board (Fed) voted Wednesday to raise rates for the third time in the past seven months, following an eight-year stretch during which the Fed adjusted rates only once.

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