Taxes Coming In
Where does most of our taxes Income come from?
The Highest of the three Categories.
Federal Income Taxes
In 2015 the government brought in 3.8 Trillion Dollars, how much did they spend?
3.8 Trillion Dollars.
What is a Tax Rate?
A tax rate is the percentage at which taxes are paid on a dollar of income.
What is a W-4?
The tax form you fill out prior to working.
Tellow-White
Where does the 2nd most Tax Income come from?
Think Business
Corporate Income Taxes
Unemployment and Food Assistance are both Mandatory Spending.
True or False.
True
What is a Tax Bracket?
A tax bracket is a range of income amounts that are taxed at a particular rate. Each filing status has its own tax brackets, but the tax rates are the same for all filing statuses.
How many allowances should I claim as a Single person with no children?
0
What mammal has the most teeth?
Armadillo
What is a Federal Income Tax?
A portion of money taking from the government on your annual wages.
What was the highest category in Mandatory Spending?
Medicare and Health
Amazon Made 11 Billion Dollars, how much did they pay in taxes?
$0.00
When claiming 0 allowances, all, some or none of my taxes come out of my check?
All.
How many hearts does an octopus have?
3 hearts.
Individuals making over $500,000.00 pay no Taxes.
True or False
False
What was the highest category in Discretionary Spending?
Military
$3.8 Trillion Dollars makes up what percentage of our economy?
21%
What is a W-2?
The form that shows how much you paid in taxes for the year.
When did Mr. Leake Graduate?
2009
How much did we borrow in 2015?
$583 Billion
How much interest did we pay in 2015 as a country?
$229,000.00
Name one type of hidden tax?
....
What is something you get with every paycheck, that shows your taxes paid?
Paystub
What are diamonds made of?
Carbon.