vocab 1
vocab 2
100
Internal Revenue Service
What is IRS
100
Socially undesirable products
What does Sin tax, tax?
200
Benefit principle of taxation
States that those who benefit from government goods and services should pay in proportion to the amount of benefits they receive.
200
Incidence of Tax
The final burden of the tax is also known as____
300
Proportional Tax
imposes the same percentage rate of taxation on everyone regardless of income.
300
ability-to-pay principle of taxation
The belief that people should be taxed according to their ability to pay
400
Average tax rate
total tax paid divided by the total taxable income.
400
Progressive Tax
What tax makes the Richer pay more for tax
500
Medicare
a federal heath-care program available to all senior citizens, regardless of income.
500
Regressive Tax
What Tax makes Poor people pay more?
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