Taxes

Where does most local, state, and federal government revenue come from?

• foreign trade

• taxes

• the stock market

Which organization is responsible for tax collection?

• United Tax Commission

• Internal Revenue Services

• Federal Open Market Committee

• Central Intelligence Agency

This is a tax that comes directly out of a person's paycheck

• Sales Tax

• Excise Tax

• Gift Tax

• Income Tax

This tax charges the same percentage rate of taxation on everyone, regardless of income.

• Regressive tax

• Progressive Tax

• Proportional tax

A person who is making $125,000 a year will have to pay more income tax than a person making $25,000 a year is a good example of:

• Regressive Taxes

• Progressive Taxes

• Proportional Taxes

People with lower incomes pay a greater percentage of taxes than people with higher incomes is a

• Regressive tax

• Progressive Tax

• Proportional Tax

A tax on alcohol or tobacco products would be a good example of a(n):

• Gift Tax

• Excise Tax

• Property Tax

• Income Tax

This is a tax on donations of money or wealth given to someone else as a gift.

• excise tax

• regressive tax

• gift tax

• sales tax

Taxes help pay for public goods. Which of the following governments is the only one that provides towards national defense?

• Local government

• State government

• Federal Government

Having to pay an extra 7 cents on a bottle of soda you just purchased would be an example of:

• sales tax

• gift tax

• income tax

• property tax