Sec 1
Sec 2
100
high tax designed to raise revenue and discourage consumption of a socially undesirable product
What is sin tax
100
Federal Insurance Contributions Act
What is FICA
200
final burden of a tax
What is incidence of a tax
200
tax on wages and salaries deducted from paychecks to finance social security and medicare
What is payroll tax
300
allowing tax payer to avoid certain taxes
What is tax loophole
300
adjustment of the tax brackets to offset the impact of inflation
What is Indexing
400
federal tax levied on wages and other income of individuals
What is individual income tax
400
tax paid by the donor on transfer of money or wealth
What is gift tax
500
state or city tax levied on a product at the time if sale
What is sales tax
500
tax on the transfer of property when a person dies
What is estate tax
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