The largest source of revenue for the federal government is ________ and the largest outlay is for ________.
A) corporate taxes; Social Security
B) personal income taxes; expenditure on goods and services
C) corporate taxes; interest on national debt
D) personal income taxes; transfer payments

Question

Quizplus · Accepted Answer

The largest source of revenue for the federal government is personal income taxes, and the largest outlay is for transfer payments, which include Social Security, Medicare, and Medicaid.

The Largest Source of Revenue for the Federal Government Is