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The federal government finances its operations with taxes, fees, and other receipts collected from many different sectors of the economy.
Tax expenditures can come in the form of exclusions, exemptions, deductions, and credits.
Most working Americans are subject to payroll taxes, which are usually deducted automatically from an employee’s paycheck. Employers are also often subject to these types of taxes.
The United States spent $631 billion on national defense during fiscal year (FY) 2018 according to the Office of Management and Budget, which amounts to 15 percent of the federal budget.
A key assessment of poverty in America is the Official Poverty Measure (OPM), which is calculated by the United States Census Bureau using a range of income and economic data.