SS8E4 The student will identify revenue sources and services provided by state and local governments.
• a. Trace sources of state revenue such as sales taxes, federal grants, personal
income taxes, and property taxes
• Revenue Sources
• Revenue is the term applied to your source of income or how you make your money
• There are several ways that the state of Ga raises money but Ga gets 90% of its money some some type of tax
• Personal Income Tax – Largest source of revenue for Ga. This is a tax you pay when you work. Money you are paid in dividends from stocks or rental properties also fall into this category.
• Sales tax – 2nd Largest revenue Source. These are taxes placed on the goods and services that you buy.
• Property Tax – Tax on land, homes, and property
• Federal Grants – These are specially allocated funds given to the State Gov’t by the Federal Gov’t and the Money usually has to be spent in certain areas
• b. Explain the distribution of state revenue to provide services.
• Revenue Expenditures
• An Expenditure is How your money was spent.
• The State spends the majority of it money in providing services directly back to the tax payer and citizen.
• 54% of Ga’s money is spent in the area of education
• The 2nd Largest area is in providing human services
• c. Evaluate how choices are made given the limited revenues of state and local governments.
• Choices
• State Gov’t have to make critical choices in how the money of the state is spent. Although it is a large sum of $$$, it is NOT an endless supply.
• The State has to allocate funds for needed projects each year. They can only fix so many bridges or roads, fund so many parks, or pay for so many new schools each with with the limited money.
The State’s Elected officials can ultimately be held responsible for the way they spend the states money. Taxpayers can vote them out of office and replace them the next term.
• a. Trace sources of state revenue such as sales taxes, federal grants, personal
income taxes, and property taxes
• Revenue Sources
• Revenue is the term applied to your source of income or how you make your money
• There are several ways that the state of Ga raises money but Ga gets 90% of its money some some type of tax
• Personal Income Tax – Largest source of revenue for Ga. This is a tax you pay when you work. Money you are paid in dividends from stocks or rental properties also fall into this category.
• Sales tax – 2nd Largest revenue Source. These are taxes placed on the goods and services that you buy.
• Property Tax – Tax on land, homes, and property
• Federal Grants – These are specially allocated funds given to the State Gov’t by the Federal Gov’t and the Money usually has to be spent in certain areas
• b. Explain the distribution of state revenue to provide services.
• Revenue Expenditures
• An Expenditure is How your money was spent.
• The State spends the majority of it money in providing services directly back to the tax payer and citizen.
• 54% of Ga’s money is spent in the area of education
• The 2nd Largest area is in providing human services
• c. Evaluate how choices are made given the limited revenues of state and local governments.
• Choices
• State Gov’t have to make critical choices in how the money of the state is spent. Although it is a large sum of $$$, it is NOT an endless supply.
• The State has to allocate funds for needed projects each year. They can only fix so many bridges or roads, fund so many parks, or pay for so many new schools each with with the limited money.
The State’s Elected officials can ultimately be held responsible for the way they spend the states money. Taxpayers can vote them out of office and replace them the next term.