Today, government plays a huge role in the economy in three broad ways. First, there is a large and growing array of economic laws and regulations. Second, the government provides a large range of services through various government programs and agencies. These include Social Security, Medicare, Medicaid, government housing, unemployment and disability insurance, and various poverty programs, among others. Finally, government programs need to be financed. These include the federal income tax, state income taxes, Social Security taxes, inheritance taxes, property taxes, and high excise taxes on goods such as gasoline, alcohol and tobacco products, among others.
Spring.