The United States of America is the greatest country and the economy in the world, without any doubt. With all the bumps in the road, the US economy is still the world leader, in every field, and by any parameter. There are numerous multinational companies in the United States, which rake in amazing numbers each year, and the exploitation of natural resources in the States is still to reach its max, so the economy can rely on some growing numbers in that sector. We should also never neglect the money coming from tourism, as millions of people visit America every year.
The US government is also a huge spender of money, as almost 4 trillion US dollars will be spent, only in 2015, by the government. This number represents one fifth of the entire Gross Domestic Product of the United States of America, taking a huge chunk out of the spending pie. The mandatory spending makes 65% of all spending of the budget, and the rest is divided between discretionary spending and interest on federal debt. The discretionary funds are changed every year, as the US Congress decides what fields need the most money, and redirects the appropriate funds to it. Of course, each year, the vast majority of over 50 per cent, goes to the military purposes, and the rest is divided into health, veterans, education, environment, social security, housing and numerous other sectors. Naturally, the mandatory spending is the largest, as it targets the essential parts of the society, like social security, health care, food, transportation, etc. When all of this is added to the federal debt interest money, we get the mind blowing numbers spent each year. But where does the government get all this money?
The majority of the money is collected through taxes, and we are all contributing to the money in the budget. The IRS, or the Internal Revenue Service, is a government agency which collects the taxes from the US citizens, and makes sure that we all pay our dues. Even though we all concur that taxes are something we pay for own good, the numbers can sometimes be overwhelming, so we must find every possible way of getting the best “deal” for ourselves. The tax laws are precise, and a great tax attorney can help you a lot with all the legal dilemmas.
If you want great legal advice, check out this Minneapolis tax attorneys, as they provide the optimal service for all kinds of tax problems and issues with the IRS. If you have any doubts that the taxes you are paying are not fair, a reliable Minnesota tax attorney can find all the legal benefits and ensure you get the best payment plan, deduction, and possibly even a forgiveness of some kind. Finding a great IRS tax attorney is not an easy job, but if you find the right one, you can completely rely on his expertise to get you the tax deal of your life, and save you a lot of money.
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