Bases
A tax on goods sold
Sales tax
Percentage paid in taxes is the same at all income levels
Proportional taxes
People who rely on someone else for support are called?
Dependents
Congress can't tax these types of services because that would violate the freedom promised by the First Amendment.
Religious services
Low earners pay more than high earners in what tax structure?
Regressive
What is a tax on a person's earnings?
Individual Income Tax
Describe a progressive tax structure
As income increases, the percentage of taxes increases
The very first clause in this section grants Congress the power to tax.
Article I, Section 8
What is the tax structure where everyone pays the same percentage?
Proportional tax
Who withholds money for FICA taxes?
Employers
A tax on gasoline, cigarettes, alcohol, etc.
Excise tax
A sales tax is an example of a
Regressive tax
What form do you complete to tell your employer how much money to withhold from your paycheck for Income taxes?
W-4
Name this tax structure: As income increases, % of taxes paid also increases
Progressive taxes
What is the deadline to file your Income tax forms?
April 15
Property taxes
Bill was in the 25% tax bracket when he paid his federal income taxes last year. He got a raise this year and he now pays out of the 28% tax bracket? What kind of tax structure is this an example of?
Progressive
What form do you receive every year from your employer that tells you how much you earned and how much you paid in taxes?
W-2
Name this tax structure: as income increases, the % of taxes paid decreases.
Regressive
Selena makes $350,000 a year and pays $21,000 in taxes at a 6% rate. Tony makes $50,000 a year and pays $3,000 in taxes at a 6% rate. What kind of tax structure is this?
Proportional