Federal Taxes
Federal Spending
State Taxes
State Spending
Local Taxes
100
Individual income tax
What is the government's largest source of income?
100
$2 trillion dollars
What is the amount of money the federal government takes in a year in revenue?
100
Operating and capital budget
What are the two budgets the government has?
100
state police, crime labs, and correction systems
What does public safety include?
100
towns, cities, townships, counties, and special districts
What are examples of local government?
200
Withholding
What is taking out part of an employees income and sending it to the federal government called?
200
Money lawmakers are required by law to spend on certain programs or to use for interest payments on the national debt
What is mandatory spending?
200
Capital budgeting
What pays for major capital or investment?
200
highways and roads
What do states build and maintain with federal assistance?
200
schools, law enforcement, fire protection, libraries, airports, public parks
What do these taxes support?
300
Tax return
At the end of the year employers send employees a report showing how much has been withheld. Employees then fill this out.
300
Benefits paid to people who meet certain requirements
What are entitlements?
300
A budget in which a revenue is equal to spending
What is a balanced budget?
300
5 states
All but how many states have a sales tax?
300
property taxes
What is the main source of local revenue?
400
FICA
taxes withheld from people's salaries
400
Social Security, Medicare, and Medicaid
What are the largest entitlement programs?
400
new bridges and buildings
What are examples of capital spending?
400
excise taxes, state income taxes, taxes on real properties
What are other taxes some states may have?
400
Tax Assesor
What is the name of an official who determines the value of property?
500
Families, corporations, and other types of taxes
Who and what does the federal government recieve income from?
500
Spending for which government planners can make choices
What is discretionary spending?
500
Education
What do states spend most money on?
500
Lands and buildings
What are real properties?
500
Sales taxes, excise taxes, and income taxes
What taxes can local governments levy?
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