Taxation 1
Taxation 2
Taxation 3
Taxation 4
Taxation 5
100
A tax placed on the manufacture of certain types of goods such as gasoline.
What is excise tax?
100
Taxes in which people with higher incomes are taxed at a higher rate are classified as this.
What are progressive taxes?
100
Taxes in which persons with lower incomes pay a higher rate of taxation are classified as this.
What are regressive taxes?
100
The idea that people should be taxed according to their ability to pay.
What is the ability to pay principle?
100
The idea that people should be taxed according to how much they benefit from government goods and services.
What is the benefit principle?
200
a proportional tax on people's income after a certain threshold is reached.
What is flat tax?
200
FICA is a tax collected to pay for which two government programs.
What is Medicare and Social Security?
200
An exception that allows people to avoid paying a tax is called this.
What is a tax loophole?
200
The individual income tax in the United States is this type of tax.
What is progressive?
200
The US government gets most of its money from this source.
What is individual income tax?
300
States and local governments get most of their money from this source.
What are intergovernmental revenues?
300
These two types of taxes are directly deducted from people's paychecks.
What is FICA and individual income?
300
The government agency responsible for collecting taxes.
What is Internal Revenue Service?
300
The annual report people must file stating their income.
What is a tax return?
300
The tax rate that applies to the next dollar of taxable income, that increases as the amount of taxable income increases.
What is marginal tax rate?
400
The sales tax can be considered this type of tax because it affects the poor more than the rich.
What is regressive tax?
400
A tax created by the government to stop people from passing on their wealth to others before their deaths.
What is the gift tax?
400
The system that requires employers to automatically deduct income taxes from an employee's paycheck.
What is payroll withholding system?
400
Money collected by one level of government and distributed to another level of government.
What are intergovernmental revenues?
400
And his name is...
JOOOOOOOOOOOOOOOOHN CEEEEEEEEEEEEEEEEENAAAAAAAAAAA!!!!!!
500
The final burden of taxation.
What is the incidence of tax?
500
If demand for a product is elastic who ends up paying the tax?
Who is the seller?
500
This Amendment in the US Constitution created the individual income tax.
What is the 16th Amendment?
500
Intergovernmental revenues are mainly used to pay for these two things.
What is education and public welfare?
500
The three criteria for effective taxes are these.
What is equity, simplicity, efficiency?
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