Federal (National Taxes)
A tax on a good produced outside the United States and imported into the country.
Customs Duty
A workers income after tax is taken out
What is net pay
A tax that is built into the price of commonly purchased goods by Americans like cigarettes or gas.
What is an Excise tax
Provides money for federal, local, and state governments to fund essential services
What are taxes
University High School Colors
What is Orange, Grey, and White
A Federal insurance program that provides benefits to retired people, those unemployed, or disabled.
What is Social Security
A tax charged by state and local governments that is added to the price of many goods and services.
What is Sales Tax
Government funded health insurance for low income households
What is Medicaid
In most states, except for a few like Florida and Texas, your income will be taxed by both of these entities.
Federal(National) and State
University High School Mascot
What is a Titan
The portion of the federal budget the government must fund by law.
What is Mandatory Federal Spending
A tax that takes a larger percentage from a low income household than a high income one.
What is a regressive tax
Health insurance funded through a payroll tax that's available to people 65 years old and up.
What is Medicare
Sales Tax is a type of this kind of tax.
What is regressive?
University High School Principal
Who is Ms. Wiles
The portion of the government budget decided by Congress through a negotiation process with the President?
What is Discretionary Federal Spending
A series of taxes that are deducted from a worker's pay and would be listed on their pay stub
Payroll Tax
A tax paid by the owner of the property charged as a percentage of the assessed value.
What is a Property Tax
A workers income before taxes are deducted
What is Gross Pay?
University High Alumni who plays for the Philadelphia Eagles in the NFL.
Who is Jalyx Hunt
The additional fee the federal government must pay back after borrowing money?
What is the Interest on National Debt
The amount of additional tax you pay for added levels of income.
Marginal Tax Rate
As your income grows, a taxpayer pays a higher percentage on new dollars earned
Graduated Tax
The majority of the revenue or money received by the Federal government comes from this type of taxes
What is a Individual income tax
University High School Assistant Principal that opened the school its first year.
Ms. Grieve