Types of Taxes
What and When?
Spending
Revenue Review
Indebted...
100
This type of tax is the largest source of revenue for the federal government.
What is the income tax?
100
The estate tax was established in this year. Just a few years before some famous root beer!
What is 1916?
100
Entitlements fall under this category of government spending.
What is uncontrollable?
100
A source of revenue for the federal government, and allows you to travel to another country.
What is a passport?
100
When you borrow money to pay off debt, you are practicing this.
What is deficit financing?
200
Sometimes this tax is called a "sin" tax, although its not just applied in Las Vegas.
What is an excise tax?
200
In 1932, this tax was added in response to people avoiding the death tax.
What is the gift tax?
200
If spending is decided by Congress, it is considered to be this type of spending.
What is controllable?
200
This type of tax is levied at the same rate, regardless of income. Also describes a glass of cola that has been sitting for hours.
What is flat?
200
This department oversees the borrowing of money by the federal government.
What is the Treasury Department?
300
When you die, your heirs may be faced with this type of tax.
What is the estate tax?
300
OASDI was established in this year.
What is 1935?
300
When you spend more than you earn, you are practicing this.
What is deficit spending?
300
An income tax that increases the percentage paid with the level of income?
What is a progressive tax?
300
Currently over $19 trillion.
What is the U.S. national debt?
400
This type of tax is taken from your gross income, and deducted from your paycheck. Social Security is an example of this tax.
What is the payroll tax?
400
The year the Twins first played in a World Series, and the year Medicare was established!
What is 1965?
400
If you meet the requirements, you get the benefit. This is called an_________.
What is an entitlement?
400
The organization responsible for enforcing and administering the tax system.
What is Internal Revenue Service?
400
This founding father once stated he would "rather go to bed without dinner than to rise in debt".
Who is Ben Franklin?
500
This type of tax is imposed on imported goods, and is used to decrease foreign competition.
What is a tariff?
500
The passage of this constitutional amendment established the federal income tax.
What is the 16th?
500
Other than social security, the department that spends the most in the federal government.
What is Health and Human Services?
500
When you pay a tax as part of the purchase of a good, without knowing you are paying a tax. This type of tax is referred to as this, or a term that implies an circumventitave path...
What is indirect?
500
The U.S. owes about $1.5 trillion to this country.
What is China?