Hi, I want to know in what ways the government collect revenues from the public and various resources other than tax and can any one tell me about mid year economic planning and budget deficit
Its an invisible tax in a couple ways. The "value" of money you are getting becomes less in terms of buying power than you thought, and in addition, you pay taxes, and higher rates of taxes, on the inflation itself in asset prices as you sell and take profits. So as they pump currency and credit in, assets go up, people make profits, which they have to pay tax on, and at the same time those profits push them into higher tax brackets, further increasing the tax revenue. The value isn't real, but you have to pay tax on it anyway. I dunno, though, because the numbers you are reading are SOOO underestimated vs reality that its not even funny. For example, they tell us the deficit is so much lower, yet if you look at the Federal debt vs what it was a year ago, its $450 billion higher, and they robbed the Social Security fund of another $150 billion that didn't get included. On the other side, if they reduce liquidity, and the markets fall, starting the next year the deficits get big, let alone how much the debt would grow by. Its pretty much a case of would you rather it just be bad or worse? As long as we have trade deficits and a government that creates wars and spends beyond the people's ability to pay, those will be the choices.
Borrowing is an other example. The government borrows with interest against future revenues. The compounding debt is indirect taxation as it is transfered into the future.