The Basics of Taxes

Funds the Social Security and Medicare programs

• Income Tax

• Payroll Tax

• Sales Tax

• Property Tax

The fee to license a car is this type of tax

• Income Tax

• Payroll Tax

• Property Tax

• Excise Tax

A tax on earned and unearned income

• Income Tax

• Payroll Tax

• Payroll Tax

• Sales Tax

A tax on airline tickets and gasoline

• Income Tax

• Excise Tax

• Sales Tax

• Property Tax

This tax is determined by a set percentage of earned income.

• Excise Tax

• Sales Tax

• Payroll Tax

• Income Tax

A tax on purchased goods and services.

• Sales Tax

• Excise Tax

• Property Tax

• Payroll Tax

The specific amount paid for this tax depends on many factors but increases as income increases.

• Income Tax

• Payroll Tax

• Sales Tax

• Excise Tax

Every person living in the United States pays so sort of taxes.

• True

• False

Taxes only provide benefits to a select group of people living in the United States.

• True

• False

People only pay taxes on the amount of money they make.

• True

• False