Economics Chapter 9 Section 2
Indexing
An upward revision of the tax brackets to keep workers from paying more in taxes just because of inflation.
Customs Duty
Charge levied on goods brought in from other countries
User Fees
Charges levied for the use of goods or services
Payroll Withholding System
In most cases the individual income tax is paid over time through a______
Corporate Income Tax
Tax corporation, as a separate legal entity, pays on its profits
Gift Tax
Tax for donations of money or wealth, and it is paid by the person making the gift
Estate Tax
Tax levied on the transfer of property when a person dies.
Excise Taxes
Taxes on the manufacture or sale of selected items such as gasoline, liquor, telephone services, tires, legal betting, and coal
Individual Income Tax, Social Security Tax, and Corporate Income Tax
The most important sources of government revenue are_______
F.I.C.A
The second most important federal tax is?
Medicare
Wealthy individuals pay the same percent of income for _____ taxes as the poor do
Federal Insurance Contributions Act
What does F.I.C.A stand for?
