Making taxes easy to administer and collect is the criteria of
What is efficiency
100
The tax that is taken out of one's income for the government is called
What is income tax
100
In the 1980s there was a dramatic decrease in income taxes due to which President?
What is President Regan
100
The final burden of a tax is on
What is the individual citizen
200
Tax that is put on high sources of income outside of one's job
What is gift tax
200
Making taxes progressive based upon people's income is the principle of
What is ability-to-pay
200
The 3rd main source of government revenue from taxes are
What is corporate tax
200
This President convinced congress the 16th amendment which created the income tax
What is President Woodrow Wilson
200
Taxes are part of ___________ policy
What is fiscal
300
Tax on property
What is estate tax
300
Making taxes easy to understand is the criteria of
What is simplicity (simple)
300
Income taxes are the ________ main source of government revenue from taxes
What is 1st
300
The dramatic increase of income taxes from 1944-1960 was due to what two main events in the U.S.
What is World War II and Baby Boom
300
This agency collects and reports taxes
What is IRS (Internal Revenue Service)
400
Tax on items that are sold
What is excise tax
400
This principle states that those who benefit the most from the government should pay more taxes, but it is limited because most who benefit the most can't pay it back
What is benefit principle
400
These taxes provide for Social Security and Medicare
What is FICA Tax
400
What dramatic event happened in the 1930 that dropped income taxes in the U.S.
What is Great Depression
400
Every citizen's tax is due on what date every year in the U.S.
What is April 15th
500
Tax on socially undesirable items
What is sin tax
500
The hardest criteria to measure is _____________ because of loopholes and exemptions in taxes
What is fairness
500
FICA Tax is the _________ main source of government revenue from taxes
What is 2nd
500
The limitation of the income tax
What is tells us only the taxes turned in, but not the tax rate on different income levels
500
The value of a per person is called per __________ and the value of Americans in 2003 was ____________