A____is a required payment to a local,state,or national government.
What is Tax
100
The Federal Government has ____major sources of tax revenue.
What is Six
100
What percent of the money that the government gets from taxes actually remains?
What is 26%
100
A state's ________ ________ pays for day-to-day expenses.
What is Operating Budget
100
Covering very large deficits by printing more money can cause very high inflation called ______________
What is Hyperinflation
200
A Tax that is put on a property value is a _______.
What is a Property Tax
200
Withholding is taking tax payments out of an ___________ _________ before he or she receives it.
What is Employee's pay
200
Social Security and Medicare are _____ Spending.
What is Mandatory
200
A State's ________ ________ pays for major capital, or investment, spending.
What is Capital Budget
200
The __________ ______ is the total amount of money that federal government owes to bondholders.
What is The National Debt
300
How many types of tax structures are there?
What is Three
300
A ______ _______ is a form used to file income taxes.
What is A Tax Return
300
Defense and education and ________Spending
What is Discretionary
300
Major sources of state revenue include ________ _________ ________,_________,and________
What are individual income taxes, sales, and other taxes.
300
What is the loss of funds for private investment due to government borrowing?
What is Crowding-out effect
400
A______is a tax which the percentage of income paid in taxes increases as income increases.
What is a Progressive Tax
400
Variable amounts that you can subtract, or deduct, from your gross income.
What are Deductions
400
_______ benefits low-income families, some people with disabilities, and elderly people in nursing homes.
What is Medicaid
400
Major sources of local revenue include ______ ______, and _______, and _______ _______
What are property taxes, and state, and federal funds
400
Attacks of September 11, 2011 dealt a double blow to the _____ ______ by disrupting the economy and imposing new ________ and ________ _____
What is Federal Budget, defense, and Building Costs
500
How many Characteristics are there of a good tax?
What is Four
500
The use of taxation to encourage or discourage behavior is called?
What is A Tax Incentive
500
______ are grants of federal money for certain closely defined purposes.
What are Federal Grands-in-Aid.
500
Some larger cities collect income taxes as _____ _____.
What are payroll taxes
500
Federal Spending on _________ ________ and _________is projected to rise sharply in the next thirty years as a large number of ______ ______ leave the job market and _______
What is Social Security and Medicare, Baby Boomers, Retire