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types of taxes and revenues
Types of taxes and revenues
Government Finances and accounting
finances
Misc.
100
This is a tax based on how much money you make.
What is income tax?
100
this is a tax that you pay if someone gives you something worth more than 11,000.
What is a gift tax.
100
This is what they call ALL the money the government owes to other people, countries and banks.
What is the national debt?
100
this what a bank charges when you borrow money to make money.
What is interest?
100
this is why the government puts high taxes on things like cigarettes and alcohol?
What is discouraging their use?
200
This is a tax that is collected when you inherit money or property.
What is estate tax?
200
this is a tax on goods that are imported into the US from other countries.
What is a tariff?
200
this is when you spend more than you take in.
What is a deficit?
200
this is the money a business has left after paying its bills.
What is profit?
200
the government uses these to discourage foreign competition.
What is a tariff?
300
this is a tax that is placed on everything that you buy.
What is sales tax?
300
this is something you pay if you get a speeding ticket?
What is a fine?
300
this is what the government has when it has paid all of its bills and still has some money left.
What is a surplus?
300
social security, medicare, and defense are the main reasons for this.
What is the high cost of government
300
this is a tax that is charged on luxury items?
What is an excise tax?
400
this tax is where local governments get the majority of their revenue.
What is property tax?
400
The government sells these when they want to raise some revenue.
What is a bond?
400
taxes, fines, and fees are how the government gets this.
What is revenue?
400
this is when you spend exactly what you take in and no more or no less.
What is a balanced budget?
400
Taxes, fines, and fees and the occasional issueing of bonds is how the government does this.
What is raise money?
500
This is a type of tax that hurts low income people more than high income people.
What is regressive tax
500
If you want the government to process something for you, you may have to pay this.
What is a fee?
500
this is what the government does to account for every dollar spent by a person, business or government agency.
what is an audit?
500
this is what a local government usually has to hold in order to issue a bond
What is a bond election?
500
this is who establishes the debt limit for the national debt.
What is Congress?