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US Taxation

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Abstract

Every country needs money to run its government. A government can collect fees for the services it provides, but countries other than taxhavens spend much more than fees alone can provide. In particular, services such as national defense and welfare cannot be supported by user fees. It is also impractical to use fees to support all of a country’s infrastructure. Roads, education, and fundamental research provide benefits to all residents. To be able to spend the money needed for such benefits, governments collect taxes from individuals, businesses, and transactions among them. This chapter describes the US system; many countries have a similar structure.

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Wiederhold, G. (2014). US Taxation. In: Valuing Intellectual Capital. Management for Professionals. Springer, New York, NY. https://doi.org/10.1007/978-1-4614-6611-6_8

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