Types of Taxes

Front

Money that the government collects from people and businesses is called a _____________.

Back

Tax

Front

This kind of tax is added to a purchase you make at a store.

Back

Sales Tax

Front

If sales tax is 10 percent, and a new pair of sneakers costs $70, how much do you actually have to pay?

Back

$77

Front

The ________ Tax is a tax on money that you earn at a job or through investments like stocks.

Back

Income

Front

Which is true? Options: The less you make, the more you get taxed. The more you make, the higher percentage tax is taken out. The more you make the lower you get taxed. If you are cool, you don't get taxed at all.

Back

The more you make, the higher percentage tax is taken out.

Front

What tax comes out of paychecks and pays for medical care for people 65 and older?

Back

Medicare

Front

What taxes come out of a person's paycheck and pay for a retirement program for older people?

Back

Social Security Tax

Front

Under a progressive income tax, who would pay the largest proportion of her income in taxes? A schoolteacher, The owner of a small business, A millionaire, A student on financial aid

Back

A millionaire

Front

What type of tax does Jennifer pay on her house, which amounts to around $6,500 each year?

Back

Property Tax