Macro - Trade Wars & Taxes _Fall 2024 - Per 1

Front

Federal income tax is an example of what type of tax?

Back

progressive

Front

Property tax to pay for schools is collected by the?

Back

local government (Martin County)

Front

People can go to prison for breaking tax laws.

Back

True

Front

A progressive tax system means that your tax rate increases as

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income increases.

Front

The idea that individuals with higher incomes should pay higher taxes is because higher income earners

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Have the ability to pay

Front

This type of tax takes a smaller share of income as the amount of income grows.

Back

regressive

Front

Income ranges that determine what percentage of income we pay for taxes

Back

tax brackets

Front

What is the largest source of government revenue? Options: Social Security taxes, property taxes, income taxes, sales taxes

Back

income taxes

Front

A tax on imports

Back

tariff

Front

A limit to the number of imports that may enter a country

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quota