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Taxes
Domestic Policy
Spending
Misc.
More Taxes
100
A tax that an employer withholds and pays on behalf of his employees
What is payroll tax?
100
Administrative decisions that are directly related to all issues and activity within a nation's borders
What is domestic policy?
100
The action of spending funds.
What is expenditures?
100
The charge for the privilege of borrowing money, typically expressed as annual percentage rate
What is interest?
100
Tax collected when a person dies
What is estate tax?
200
Tax paid on money earned from working
What is income tax?
200
A government program that guarantees certain benefits to a particular group or segment of the population
What is entitlement programs?
200
benefits are paid out monthly to retired workers and their spouses who have, during their working years, paid into the Social Security system.
What is Social Security?
200
An excess of income over expenditures
What is surplus?
200
A tax on the transfer of property by one individual to another while receiving nothing, or less than full value, in return
What is gift tax?
300
Tax levied by a government on the profits of a company
What is corporate income tax?
300
The central bank of the United States and the most powerful financial institution in the world. The Federal Reserve Bank was founded by the U.S. Congress in 1913 to provide the nation with a safe, flexible and stable monetary and financial system.
What is the Federal Reserve Bank?
300
Federal health insurance program for people who are 65 or older
What is Medicare?
300
An excess of expenditure over income
What is deficit?
300
Tax rate increases at the taxable amount increases
What is progressive tax?
400
Tax on certain product sometimes called a hidden tax
What is excise tax?
400
An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
What is Capitalism?
400
Congress and the president decide how much to spend
What is controllable spending?
400
A state's annual income from which public expenses are met
What is revenue?
400
System that applies the same tax rate to every taxpayer regardless of income bracket
What is flat tax?
500
Tax on land you own
What is property tax?
500
An economic and political system in which all property is owned by the state
What is communism?
500
Mandatory spending
What is uncontrollable spending?
500
The money owed by a government
What is public debt?
500
Tax rate decreases as the taxable rate increases
What is regressive tax?