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Wall Street to Your Street

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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Understanding the budget debate part 1: controlling the national debt

There is a simple reason very few Americans understand exactly where their taxes go: It's complicated; there are a lot of moving parts. But understanding the basics of how money flows from your wallet to the thousands of initiatives funded by the federal government is the first step in recognizing the enormous challenge Congress faces in trying to reverse the current national debt, which is now at about $19 trillion and growing.

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