The United States Fiscal Year 2016 Is From October 1, 2015,

Budgeting is perhaps the most essential process involved in the United States government. While this process seems to exist only in the background, it is, in reality, what allows all other processes of government to function as they do. In order to satisfy the most necessities of modern society, changes must be made to each of the three major categories of the budget: the big five, the middle five, and the little guys.

The federal government puts tax on everything, this allows them to take a percentage of our money away from us and use it for the country. Right now the US in debt and can’t afford to run this country alone. They use our money for several things everyday. However, there are limits to what the can tax such as; they can not tax Church services because it goes against our first ammendment right.

The Commissioners Court is required to adopt a final budget by no later than the close of the calendar year. This annual budget serves as the foundation for the County’s financial planning and control. The budget includes appropriations for the general fund, certain special revenue funds, debt service funds, and proprietary funds. The budget is prepared by fund, function, department, and object codes. Transfer of appropriations between departments requires the approval of Commissioners Court.

The government has the Autumn Statement in October where the government announces its spending plans and the Budget in March which states any tax changes. The budget provides private businesses tax changes which will directly affect them. The autumn statement will indicate the amount of money being spent which could affect the changes in the budget in March.

The General Fund covers almost everything else within our state. The General Fund covers the operations of the state executive, judicial, and legislative. Also included within the General Fund are public safety, Medicaid, and Department of Corrections. The majority of the revenue that goes to the General Fund is obtained by tax revenue such as the insurance taxes Alabama collects.

Congress creates a budget by each fiscal year which divides funding into mandatory, and discretionary spending programs. Discretionary spending is implemented through appropriation

Tax revenue accounts for about 75% of the federal budget. During the 2010 fiscal year, the United States government collected about $2.16 trillion dollars in tax revenue. About 42% of these taxes are from individual income taxes; another 40% from Social Security taxes and the rest are split between excise, estate, and corporate taxes (cbo.gov). The United States uses what is called the progressive tax system. Which means the more you make, the more taxes you pay. Tax revenue has become a very hot topic in the past few months, mostly due to the fact of a recent group of people who call themselves “Occupy Wall Street”.

The annual budget for the Federal Government is $2.34 trillion dollars a year. Our Gross Domestic Product is an amazing $12 trillion dollars a year (Johnson 2005). This means that the $41 billion dollars is a simple 1.7 percent of the budget, and just 0.34 percent of the Gross National Product.

The first step to creating the federal government budget is the President submits a budget request to Congress. The executive branch gets requests from the federal agencies saying that different things and projects need money or that they don’t need money. So basically they discuss what project is more important. Yet these are all only proposals so they can either be accepted or denied depending on what the people think the country needs.

This was done by writing detailed guidelines of how the president can control the funds of congress. This second goal of the Act was what initially created what is now known ad the Congressional budget office or the (CBO). The CBO gives congress an “independent economic analysis and end the Executive Branch's monopoly on budgetary information created by the 1921 Budget and Accounting Act” (Bancroft).

How it works: The National Budget is the fundemental way of earning and spending money, it is funded by the citizens of that country through a thing called TAX. Tax is the government’s way of earning income by charging a citizen a certain percentage of a their salary. The money is then used to pay for things like roads, hospitals and schools

The fact of life, is that money is needed to live in this day in age. It is used from buying a simple carton of eggs to running basic government operations. . Over the years government spending has increased from 10 percent of the GDP (gross domestic product) in 1929 to 34 percent of the GDP in 2015. To be able to spend money of this gratitude, people are required to pay taxes. Two categories of taxes progressive and regressive, which defines how much a person pays. A progressive tax requires high-income groups to pay a larger percentage than low-income groups. Regressive taxes require low-income groups to pay a larger percentage than high-income groups. There are many different types of taxes such as property taxes, state sales taxes, selective sales taxes, state income tax, and corporate taxes. Some states such as Louisiana has to have cutbacks because of a gap in the state budget which can be partially accredited to tax breaks, so they take revenue from places like university funding, and healthcare.

The taxes you pay and including the back taxes as well are accumulated in the national treasury. These become the very source of valuable funds for the government in order for the government to sustain its functions and deliver goods and services to its constituents. Taxes pay for the salary of workers and also build better roads, better roads mean better access and access makes better business and will create a prosperous town, city, and nation.

A budget can be described as an allocation mechanism that the Government uses to distribute a nation’s resources amongst different economic sectors that serve or are existent within a country. The major source of Government resources distributed is taxes paid by resident or citizens of a given country. A budget is one tool that has a lot of political and economic significance since it controls a Government’s expenditures and it lays out a path that the economy will follow or at least try to follow in a given year.

Tax systems define the terms under which taxpayers interact with governments. As with other laws and regulations, such terms may be deemed either fair or unfair under a given standard. The predominant source of income for millions of U.S. taxpayers is wage, salary, or self-employment income. Thus, tax policies related