Vocab
Reforms, Acts and Taxes
Graphs & images
100
A document attached to a paycheck summarizing pay and deductions
What is Payroll Withholding Statement
100
Reason there were reforms in 2001 when the government was collecting more taxes then needed
What is Surplus?
100
What is the top of this image
What is A Biweekly Paycheck?
200
Profits from the sale of an asset held for 12 months or longer
What is Capital Gains?
200
The government had to _____ due to tax cuts made in the 1980's since the governments revenue was less than government spending
What is Borrow money?
200
What is A Tax Bracket?
300
Tax credit given for purchase of equipment
What is Investment Tax Credit?
300
A series of tax cuts that reduced taxes in upper income brackets in the 2000's
What is the Tax Reform of 2003?
300
What is the bottom half of this image
What is Withholding Statement?
400
Tax on the value added at every stage of the production process
What is Value Added Tax?
400
Percent the U.S. treasury believes the flat tax would have to be to be successful
What is 23%?
400
The blue line on the image above represents
What is A Flat Tax?
500
Personal income tax rate that applies to cases in which taxes would otherwise fall below a certain level
What is Alternative Minimum Tax?
500
Act that lowered taxes on capital gains and inheritance taxes
What is Taxpayer relief (act of 1997)?
500
The image above represents which controversial taxing method
What is The Value-Added Tax?