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Government revenue or national revenue is money received by a government from taxes and non-tax sources to enable it, assuming full resource employment, to undertake non-inflationary public expenditure. Government revenue as well as government spending are components of the government budget and important tools of the government's fiscal policy.
Government spending or expenditure includes all government consumption, investment, and transfer payments. [1] [2] In national income accounting, the acquisition by governments of goods and services for current use, to directly satisfy the individual or collective needs of the community, is classed as government final consumption expenditure.
For example, the number of workers per retiree was 5.1 in 1960; this declined to 3.3 in 2007 and is projected to decline to 2.1 by 2040. [25] According to census data for 2011, 16% of the population lived in a household where at least one individual received Social Security and 15% lived in a household where at least one individual received ...
The Census of Governments for 2017 shows $3.7 trillion total of state ($2.3) and local ($1.9) government expenditures. The total is less than the parts, to exclude duplicative inter-governmental transactions. The data are available for detailed categories of revenue and expenditure for each state, and for the total of local governments in each ...
Government revenues mostly include taxes (e.g. inheritance tax, income tax, corporation tax, import taxes) while expenditures consist of government spending (e.g. healthcare, education, defense, infrastructure, social benefits). A government budget is prepared by the Central government or other political entity.
Tax revenue is the 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. An inefficient collection of taxes is greater in countries characterized by ...
A request that this article title be changed to List of countries by past government spending is under discussion. Please do not move this article until the discussion is closed. This article lists countries alphabetically, with total government expenditure as percentage of Gross domestic product (GDP) for the listed countries.
Vis-à-vis tax revenues, much less academic study has been conducted into the volume and distribution of non-tax revenues, [2] although the most significant forms — oil and natural gas revenues and foreign aid — have been extensively studied since Hossein Mahdavy’s seminal 1970 analysis of the Imperial State of Iran.