Government and the Economy

Front

What do taxes collected under the Federal Insurance Contribution Act (FICA) fund?

Back

Social Security and Medicare

Front

Who generally bears most of a sales tax when the demand for the good taxed is inelastic?

Back

the consumer

Front

What do social security taxes pay for?

Back

benefits to older citizens, surviving family members of wage earners, and people with certain disabilities

Front

Our tax money is spent on all of the following EXCEPT: Social Security, The Military, National Parks

Back

Private School Education

Front

The W-4 form lets...

Back

your employer know how much to withhold from your paycheck

Front

Jess is 21, in college, & has a job that provides 65% of her support. Is she a dependent?

Back

No

Front

By claiming "exempt" on the W-4 form...

Back

You will NOT have income taxes withheld from your paycheck.

Front

Fort Bend county charges tax each year on the house that Jennifer owns. Which type of tax does she pay?

Back

Property Tax

Front

What type of tax does Louis's dad pay each year based off the money he earns from his lawn mowing business?

Back

Income Tax

Front

Curtis purchased a new pair of jeans for $18. When Curtis pays for his jeans his total is almost $20 because of taxes. Which type of tax does Curtis pay?

Back

Sales Tax