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; Medicare
C) personal income taxes; interest on national debt
D) personal income taxes; transfer payments

Question

Quizplus · Accepted Answer

Personal income taxes are the largest source of revenue for the federal government, and the largest outlay is for transfer payments, which include Social Security, Medicare, and other welfare programs.

The Largest Source of Revenue for the Federal Government Is