Did you pay attention in government class? There is a lot of information to try and retain. What do all the different government branches and sectors do? There are many various components, and each has a specific job that they oversee. The Federal Government is one that gets a lot of attention. But what do they actually do? That is a good question. Here are a few of the duties that they need to accomplish.
They are in charge of making and enforcing laws. There are state laws, and then there are federal laws. Federal laws, in most cases, take precedence over state laws. So it is imperative to understand the rules that are in our state and those that are created federally. Their ability to develop regulations makes it essential to know who we are voting for during the federal elections. Not only do they create the laws, but it is also their job to enforce those laws. Federal judges and those that work with them get the job of upholding those laws.
We are just getting through with tax season, and we can thank the Federal Government for some of those taxes. The Federal Government has the ability to impose more or fewer taxes. It is their job to set all the requirements and tax brackets. While it is true that the state government also collects taxes from us, this is a small percentage. The local and state governments collect around one-third of the taxes, while the federal government collects a little over two-thirds. It is important to vote and make sure our voice is heard on all levels regarding taxes, but especially when the federal government starts discussing them.
The third main power that they have is to borrow money. They can take our taxes and also decide when to borrow money. They are critical to the debt limit of our nation. Their choices with money significantly impact our country in many ways. Their goal is to cover all the spending that they need to do with the taxes that they collect from all of us. There are years, though, when the tax collected is not enough. To cover the remaining is when they must choose to borrow. This is a highly debated topic, with people falling firmly on both sides. One way they do this is through Treasury bonds.
Some of the other Federal Government’s power is to make money. They deal a lot with the money in our country. They can also decide if we are going to declare war. We want to make sure this power is in the right hands. They are also the ones that will deal kindly with other nations. They are in charge of the trade that happens between different countries. Knowing who holds what power is essential. It can help you decipher if what you are being told is accurate and where to find the correct information.
Understand the power of the Federal Government.