Types of Taxes in the United States

This lesson explains the different types of taxes the United States government uses to generate revenue to fund the federal budget.

[ProtoHazmat]

So I’m a customer for the government for life

[sandykl]

Thank you for breaking it down and defining all the terms. What makes me furious is that we are taxed left and right - seems limitless. But there still isn’t enough for the government to purchase crayons for children in public schools? Taxes increase and education funds decrease. Makes me sick to my stomach.

[therealoneog]

The gift tax is the stupidest thing I’ve ever heard so far

[Urmapleleaf]

Ι have brushed up my knowledge on taxes within at least 5 minutes, than I did back at school, that it had taken me at least half of the semester.

[victorvalderrama]

Thank you for explaining with simplicity!! I learned a lot

[taxslave]

So basically the government owns all properties as you are forced to pay them rent (property tax).

[samgalloway]

this is called a social agreement. fellas, you lowkey accept ot without knowing and when you turn 18 and youre a us citizen...

[liu]

4:13 the 15.3% is the total FICA tax which include Social Security and Medicare contributed from employer and employee. So for employee is only 7.65%

[MuhammadAbdullahMirza]

video very simple & full of knowledge.
Looks like it makes me understood the whole revenue system of USA.

[senselessjay]

The estate tax got me. Even in death, gotta pay something

[roelrequenez]

So with all this taxes the government and states collect you would think we would not be in a deficit.

[foggyshores]

Governments spend by crediting bank accounts, creating currency in the process. Governments tax by debiting bank accounts. Taxes remove or delete some of the currency they previously created. So taxes cannot “give” the government “money” to spend; rather government spending actually gives us its currency so we can later pay our taxes. We have it backward.

[yusufzaman]

when we make money we pay the government and when we spend money we pay the government

[Aqtalni]

See I just wanted to find out tax to buy me a bag of chips-
I learned something today

[awhb]

Thank you very much. Very easy to understand. You deserve many likes

[ilyamavropulo]

Thanks for a great and very helpful video!!!
Would you be so kind as to comment on the 2 questions below?
1. If I live in US, holding F1 visa, can I work remotely in another country as an entrepreneur? Can I avoid double taxation in that case?
2. Same question for my wife, she holds F2 visa

Many thanks for consideration and response!

[attalus]

All the people in the beautiful land of the USA. We need to stand together in unity against this government. Other Gov. of the past have been overthrown by the people for a 15% tax. How have we let this happen to us? Forget fighting over political parties. Our jobs have been shipped oversees, we are paying 50% plus in taxes a year with new taxes on the way.

[MrWAEL]

Just telling, in Saudi Arabia taxes are 5%. + 2.5% (Zakat) And nothing else.

[harikrishnanchandramohan]

If we pay state tax and then federal tax, how much will I be left?

[pascualsmithvaldes]

I wonder why there is not enough money for... "... this includes things like defense and the military"
Oh nevermind