Taxes Review

We pay _______ taxes to fund our school districts and park districts

• Local
• State
• Federal
• None of the above

The total amount of income you earn through work before  deductions is called your _______.

• Weekend income
• Gross income
• Net income
•  Taxable income

What is the FICA tax?

• Primarily a credit card tax
•  a tax on investment income
• another name for the marginal tax rate system
•  a tax collected to fund Social Security and Medicare

Federal Income tax is a _______tax

• proportional
• flat
• regressive
• progressive

Under a ________ tax system, individuals and entities with low incomes pay a higher amount of their income in taxes compared to high-income earners. 

• Regressive
• Progressive
• Proportional
• Flat

A _________ tax, also referred to as a flat tax, impacts low-, middle- and high-income earners relatively equally. 

• regressive
• proportional
• income

According to the document (image), which tax structure is in effect?

• Regressive
• Progressive
• Proportionate

An argument to defend the progressive income tax is because of the ______.

• Scarcity Argument
• Ability-to-pay principle
• benefits-received principle
• tragedy of the commons

This is the major (highest) revenue source for the Federal Government

• Sales Taxes
• Personal Income Taxes
• FICA Taxes
• Property Taxes

Tax on real estate that pays for schools and city services is called ______________. 

• Excise Tax
• Flat Tax
• Fare Tax
• Property Tax