Financial policymakers face lots of challenges. They have to formulate various kinds of policies within a stipulated budget. As such, it becomes extremely important for them to know about the sources of local and state government revenues. They need to know about the sources that give them the biggest, average and lowest revenue. Otherwise, it would be almost impossible for them to find out cheaper ways to create better policies.
Citizens, on the other hand, are well acquainted with the idea that they have to pay for government. However, only a small section of them knows about the sources of state and local government revenues, which is unfortunate.
This infographic explains the various sources of revenues for both state and local government. Check this one out to be a well-informed citizen or a financially literate policy maker.
