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Taxation
Federal Tax System
Federal Government Expenditures
Deficits, Surpluses, and National Debt
Competition
100
tax imposed on financial income
What is individual income tax
100
portion of wages not included in check
What is payroll withholding system
100
how much the government can spend
What is federal budget
100
spending excess revenue
What is deficit spending
100
buyers and sellers can directly work under supply and demand
What is Pure competition
200
a tax on sales
What is sales tax
200
revenue service of US Federal Government
What is Internal Revenue Service
200
how much the government has to spend
What is mandatory spending
200
money owed by U.S. Government
What is federal debt
200
large sellers control most of the production
What is Oligopoly
300
taxation from public finance
What is Benefit of principle of taxation
300
annual statement of income
What is tax return
300
year for taxing purposes
What is fiscal year
300
revenue equals expenditures
What is balanced budget
300
market in which a single seller exercises exclusive control over a service or product
What is Monopoly
400
charge same rate of tax
What is proportional tax
400
taxes to fund social security / medicare
What is FICA
400
authorizes government to spend money
What is appropriations bill
400
bills paid when due
What is pay-as-you-go provision
400
Owned and run by a single person
What is sole proprietorship
500
tax low-income more
What is regressive tax
500
taxes on employees
What is payroll tax
500
helps low income families
What is Medicaid
500
having the right to something
What is entitlement
500
business organization recognized by law
What is Corporation