a required payment to a local, state, or national government
tax
taking tax payments out of an employee's pay before he or she receives it
withholding
spending on certain programs that is mandated, or required by existing law
mandatory spending
budget for day-to-day expenses
operating budget
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Italy
income received by a government from taxes and nontax sources
revenue
income on which tax must be paid; total income minus exemptions and deductions
taxable income
spending category about which government planners can make choices
discretionary spending
budget in which revenues are equal to spending
balanced budget
9 + 10 =
21
a tax on the dollar value of a good or service being sold
sales tax
variable amounts that you can subtract, or deduct, from your gross income
deductions
social welfare program that people are "entitled to" if they meet certain eligibility requirements
entitlement
not subject to taxes
tax exempt
who is Oprah Winfrey
Oprah Winfrey
a tax on the value of a property
property tax
Old-Age, Survivors, and Disability Insurance (OASDI)
social security
entitlement program that benefits low-income families, some people with disabilities, and elderly people in nursing homes
medicaid
physical property such as land and buildings
real property
as a young girl, Oprah was so poor that she often had to wear dresses made from what
potato sacks
a tax for which the percentage of income paid in taxes decreases as income increases
regressive tax
a national health insurance program that helps pay for health care for people over age 65 or with certain disabilities
medicare
the title of section 3
federal spending
an official who determines the value of property
tax assessor
I ain't mad at em' baby
"Oprahs Bank Account" - Lil Yachty