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16. Financing the Government.
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Taxes.
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Nontax Revenues and Borrowing.
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Spending and the Budget.
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higher one’s income, the higher the tax
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a declaration of that income and of the exemptions and deductions he or she claims
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amounts owed by employees are withheld from their paychecks
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taxes levied at a flat rate, without regard to the level of a taxpayer’s income or his or her ability to pay them
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tax laid on the manufacture, sale, or consumption of goods and/or the performance of services
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levy imposed on the assets of one who dies
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one imposed on the making of a gift by a living person
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taxes laid on goods brought into the United States from abroad
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a charge for borrowed money, generally a percentage of the amount borrowed
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the yearly shortfall between income and outgo; and it borrowed heavily to make up the difference
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more income than outgo
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the government’s total outstanding indebtedness
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benefits that federal law says must be paid to all those who meet the eligibility requirements
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Congress and the President can decide each year just how much will be spent on many of the things that the government does
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nearly 80% of all federal spending (paying interest on public debt)
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when signed by the President, this allows the affected agencies to continue to function on the basis of the previous year’s appropriations
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Financing the Government.
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Interpreting Political Cartoons.
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How does the Federal Government Draw Revenue?
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The Federal Government’s Income (in billions of dollars)
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Progressive Income Tax.
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U.S. Department of the Interior.
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Don’t Borrow Against the Future.
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U.S. Postal Service.
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Voices on Government.
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Government Borrowing, 1940-2005.
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Budgets in Crisis.
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Food Stamp Program.
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Entitlements, Interest on Public Debt, and Defense.
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Federal Spending (in billions of dollars)
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Interpreting Political Cartoons.
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Analyzing Political Cartoons.
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