Respuesta :
The government uses the tax revenue it receives to fund required spending, which mostly consists of Social Security, Medicare, and Medicaid.
What is meant by Tax revenue?
Revenues from taxes on income and profits, social security contributions, taxes on goods and services, payroll taxes, levies on the ownership and transfer of property, and other taxes are all considered to be taxes.
What is Social Security and how does it operate?
Depending on their career earnings, Social Security replaces a portion of your pre-retirement income. Depending on your income and when you decide to begin receiving benefits, Social Security replaces a different percentage of your pre-retirement pay depending on your highest 35 years of earnings.
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