Definitions
Taxes
Spending
More taxes
Misc.
100
A plan of income and expense, usually for a year.
What is a budget
100
A tax governments charge when making a routine purchase
What is a sales tax
100
A loan that the government promises to pay back with interest over a certain period of time
What is a government bond
100
The greatest source of revenue for the government
What is income tax
100
The president who said that the government should be supported by, not support, the people
Who is Grover Cleveland
200
Income taxes are higher for a) state taxes or b) federal taxes
What is a- state income taxes
200
The government official responsible for proposing an annual budget
What is the president
200
The process by which most Americans pay income taxes
What is withholding
200
Why do government agencies generally try to spend surpluses?
To avoid a cut to their budget for the next year
300
A two year budget
What is a biennial budget
300
do a) businesses or b) individuals pay higher property taxes?
a) businnesses
300
A budget requirement present in most states, but not on a federal level
What is a balanced budget
300
A tax for which the rate is higher the higher the income of the individual
What is progressive tax
300
The purpose of tax policy
What is to raise the revenue for the government to run properly
400
The result of printing money to overcome a budget shortfall
What is inflation
400
The day on which the average American has made enough money to pay all of their taxes
What is Tax Freedom Day
400
A federal grant with specific guidelines about how a state or local government can use it
What is a federal categorical grant
400
DOUBLE: Four items with an excise tax are discussed in Exploring government. 400 points for each you can name
What are alcohol, tobacco, gasoline, jewelry, furs, and guns
400
The approximate total debt of the U.S.
What is $20,000,000,000,000
500
A law stating funding for a certain project will end by a set date
What is a sunset law
500
A tax placed on a vehicle purchased based on the fair market value of the car
What is the ad valorem tax
500
Large projects such as roads, schools, etc.
What are capital projects
500
These are often tax exempt
What are churches/charitable organizations
500
The percentage of the total income tax contributed by the top 1% of earners
What is 38%
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