Section 1 Tax Types
Section 2 Tax Types
Federal Programs
Section 4
Section 3
100
A mandatory payment to the government
What is tax
100
Tax on property transferred to others on death of owner
What is estate tax?
100
Federal Income Contribution Acts
What is FICA
100
A person who determines the value of property
What is a tax assessor?
100
social welfare programs with specific requirements
What is entitlements?
200
tax based on the value of goods or services at the time of sale
What is sales tax?
200
Tax on assets given by one living person to another
What is gift tax?
200
a government medical insurance program for low-income people
What is medicaid?
200
This level of government has the broadest tax base
What is the federal government
200
The programs and services the federal government funds are divided into these two categories
What are mandatory and discretionary spending?
300
tax that takes a large percentage of income from low-income people
What is regressive tax?
300
Tax on the production or sale of a specific good or service
What is excise tax?
300
A transfer payment from federal government to state or local government
What is grant-in-aid
300
One area of important local government spending would include this
What is public schools, public safety, or public welfare?
300
A 12-month period for which an organization plans its expenditures
What is a fiscal year?
400
a tax that places a higher percentage rate of taxation on higher-income people
What is progressive tax?
400
money taken from pay before the worker receives it
What is withholding?
400
A federal program to aid older citizens, children who have lost a parent, and the disabled
What is social security?
400
States work with these two types of budgets
What is an operating budget and a capital budget?
400
more than one-third of federal revenue is devoted to this kind of spending
What is discretionary spending?
500
Tax that takes the same percentage of income from all taxpayers
What is proportional tax?
500
Tax on goods imported into the U.S.
What is customs duty?
500
A national health insurance program mainly for citizens over 65
What is medicare
500
All states except this one are required to have a balanced budget
What is Vermont
500
According to our book, about 42 million Americans are enrolled in this program
What is Medicare?
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