Where did my money go?
Where did my money go -Part 2?
Government
Government part 2
Good luck, taxes again
100
a tax on the total value of the money and property of a person who has died
What is an estate tax?
100
physical possessions such as land and buildings
What is real property?
100
a social welfare program providing benefits to people who meet certain eligibility requirements
What is an entitlement?
100
Income tax filings are normally due on this day
What is April 15th?
100
main source of funding for your school probably come from this type of tax
What is local property taxes?
200
a tax on the amount of money a person earns
What is individual income tax?
200
taking tax payments out of an employee's pay before he or she receives it
What is withholding?
200
____________ is a budget for day-to-day expenses
What is an operating budget?
200
purpose money is taken out of your paycheck in the form of withholdings
What is to pay income tax bill to government?
200
occurs when the government spends more money than it raises in revenue in a year
What is a deficit?
300
a tax on the value of a company's profits
What is corporate income tax?
300
variable amounts that you can subtract from your gross income
What is deductions?
300
_______________ is a budget for investment spending
What is a capital budget?
300
Former Governor Mike Huckabee advocated for everyone to have a tax rate of 10%, which is called this type of tax
What is proportional?
300
occurs when the government takes in money more than it spends in a year
What is a surplus?
400
a tax for which the percentage of income paid in taxes remains the same for all income levels
What is proportional tax?
400
the final burden of a tax
What is incidence of a tax?
400
Which of the following is discretionary spending? Social Security, Medicare, Medicaid or education
What is education?
400
type of tax structure that individual income taxes are in the US
What is progressive tax?
400
amendment that legalized income taxes
What is 16th?
500
a tax for which the percentage of income paid in taxes decreases as income increases
What is regressive tax?
500
entitlement program that benefits low-income families so people with disabilities, and elderly people in nursing homes.
What is Medicaid?
500
taxes collected under the FICA(Federal Insurance Contribution Act) fund these programs
What is Social Security and Medicare?
500
part of the Constitution that grants Congress the right to tax and borrow
What is Article I, Section 8 of the Constitution?
500
Mr. Brewer's grandmother who is 89 years old lives off of this program each month, which is a fixed income for her.
What is Social Security?
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