C&E Unit 8: PFL Vocab Review (229, 230)

Front

Charge by government on people or property to raise money for public needs.

Back

Tax

Front

Tax paid directly to the government by a person.

Back

Direct Tax

Front

Tax paid by one entity and passed to another.

Back

Indirect Tax

Front

Spending more money than one takes in.

Back

Deficit

Front

Higher income = higher tax rate.

Back

Progressive tax

Front

Taxes imposed at a flat rate; also known as a flat tax.

Back

Regressive Tax

Front

Tax on sale, manufacture, and consumption of goods.

Back

Excise Tax

Front

Tax on goods brought into the US

Back

Custom Duty

Front

Tax on assets of a deceased person.

Back

Estate tax

Front

Amendment that created income taxes.

Back

16th