How the U.S. Federal Government Is Funded (And How Your Share is Calculated)

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Understanding taxes doesn’t have to be overwhelming. This exploration takes a deep dive into the world of federal taxes, uncovering how the system works, how it affects everyday Americans, and why staying informed matters. It’s not just about numbers—it’s about gaining clarity and control over your financial life.

In this video, tax expert Karlton Dennis explains the ins and outs of the federal tax system, breaking down everything from income and payroll taxes to deductions, credits, and capital gains. He provides a full explanation of how the US federal government is funded and how your share is calculated.

Beyond the mechanics, the discussion also looks at trends, historical changes, and the broader implications of tax policy on society. Viewers gain the knowledge to make smarter financial decisions, better understand their obligations, and participate in policy debates with confidence. For anyone wanting to demystify taxes and see the facts clearly, this video is a practical, insightful, and entertaining guide.

CHAPTERS:
0:00 Intro
0:14 Where the Money Comes From
1:26 Understanding Income Taxes
1:39 Deductions: Shrinking Your Taxable Income
3:05 America’s Progressive Tax System (A.K.A. The Staircase of Pain)
4:00 Capital Gains: When Your Assets Make Money
4:42 Tax Credits: Direct Discounts on What You Owe
5:44 Who Pays What
6:38 A Brief History of Tax Changes
8:23 Why Understanding Taxes Matters
8:56 The Bottom Line
9:14 Outro

*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.

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