2. $100
$100
$100
$100
$100
$200
$200
$200
$200
$200
$300
$300
$300
$300
$300
$400
$400
$400
$400
$400
$500
$500
$500
$500
$500

3. Types of Taxes

4. Federal Revenue Sources

5. State Revenue Sources

6. Local Revenue Sources

7. Vocabulary

8. Federal Revenue Sources
State Revenue Sources
Local Revenue Sources
Types of Taxes
Vocabulary $
$100
$100
$100
$100
$100
$200
$200
$200
$200
$200
$300
$300
$300
$300
$300
$400
$400
$400
$400
$400
$500
$500
$500
$500
$500

9. The Authority to levy a Federal Income Tax comes from this

10. C 1 - $200
Tax that imposes a higher % rate on people with higher incomes than lower incomes

11. C 1 - $300
Tax that imposes a higher % rate on people with lower incomes than higher incomes

12. This requires people to pay a minimum tax of 20 percent.

13. C 1 - $500
The incidence of a tax can be more effectively shifted from the supplier to the customer if the demand curve has this elasticity

14. The Federal Tax on people’s earnings
C 2 - $100
The Federal Tax on people’s earnings

15. FICA includes taxes to pay for

16. C 2 - $300
Annual report to the IRS summarizing total income, deductions, and taxes withheld by employers

17. C 2 - $400
Medicare tax is 1.45 percent of income with no limit on the amount of income taxed. This is an example of which type of tax?

18. Social Security and Medicare ( FICA ) Taxes are also called this

19. Intergovernmental Revenues are generally intended for this
C 3 - $100
Intergovernmental Revenues are generally intended for this

20. This is the largest source of State Government revenue

21. C 3 - $300
This is a general tax levied on consumer purchases of nearly all products

22. This is the second largest source of State Government revenue

23. All but seven States levy this type of tax
C 3 - $500
All but seven States levy this type of tax

24. A Tax Assessor works for this level of Government
C 4 - $100
A Tax Assessor works for this level of Government

25. This is the largest source of Local Government revenue

26. Person who assigns value to property for tax purposes
C 4 - $300
Person who assigns value to property for tax purposes

27. This is the second largest source of Local Government revenue

28. C 4 - $500
Because of economies of scale many public utilities are considered this

29. What were the effects of the Taxpayer Relief Act of 1997?

30. C 5 - $200
Tax on the transfer
of property when
a person dies

31. some people to avoid paying taxes
C 5 - $300
Exceptions in the
tax law that allow
some people to avoid paying taxes

32. C 5 - $400
This refers to those
who bear the final
burden of taxation

33. This is an upward revision of the tax brackets to adjust for inflation

34. The Sixteenth Amendment
C 1 A - $100
The Sixteenth Amendment $

35. C 1 A - $200
Progressive Tax $

36. C 1 A - $300
Regressive Tax $

37. The Alternative Minimum Tax
C 1 A - $400
The Alternative Minimum Tax $

38. Inelastic demand curve
C 1 A - $500
Inelastic demand curve $

39. C 2 A - $100
Individual Income Tax $

40. C 2 A - $200
Social Security
and Medicare $

41. C 2 A - $300
Tax Return
or Form 1040 $

42. C 2 A - $400
Proportional Tax $

43. C 2 A - $500
Payroll Taxes $

44. C 3 A - $100
Education and
Public Welfare $

45. C 3 A - $200
Intergovernmental
Revenue $

46. C 3 A - $300
Sales Tax $

47. C 3 A - $400
Sales Tax $

48. C 3 A - $500
Individual
Income
Tax $

49. C 4 A - $100
Local Government
                                      $

50. C 4 A - $200
Intergovernmental
Revenue $

51. C 4 A - $300
Tax Assessor $

52. C 4 A - $400
Property Tax $

53. C 4 A - $500
Natural Monopolies $

54. Did little to benefit wage earners in the lowest 20 percent
C 5 A - $100
Did little to benefit wage earners in the lowest 20 percent $

55. C 5 A - $200
Estate Tax $

56. C 5 A - $300
Tax Loophole $

57. C 5 A - $400
The Incidence of a Tax $

58. C 5 A - $500
Indexing $

60. Alternative Tax Approaches
FJ Topic
Alternative Tax Approaches $

61. FJ Question
This type of tax spreads the incidence of tax as the product changes form from producer to consumer $

62. FJ Ans
The Value Added Tax $

63. END OF GAME