Taxes and Government

What are Taxes?

• A federal program of health insurance for people of the age 65 or older.

• Money paid as a penalty for breaking one or multiple laws.

• Fees for the support of government required to be paid by people and businesses.

• Payments made by individuals and corporations based on income received.

What are the different types of Taxes?

• Income Tax

• Borrowed Funds

• Property Tax

• Sales Tax

What is Social Security?

• Short-term funds borrowed by commercial banks from the Federal Reserve.

• Income (Money)

• The total amount of money that a country's government has borrowed.

• A federal program of disability or retirement benefits that covers most working individuals.

True or False? Is Medicare a federal program of health insurance for people of the age 65 or older?

• True

• False

what are Sales Tax?

• A tax consumers pay on many items they buy.

• Payments made by individuals and corporations based on income received.

• A tax levied on land, buildings, and personal property.

What is a Property Tax?

• Payments made by individuals and corporations based on income received.

• A tax consumers pay on many items they buy.

• A tax levied on land, buildings, and personal property.

What is an Income Tax?

• A tax consumers pay on many items they buy.

• Payments made by individuals and corporations based on income received.

• A tax levied on land, buildings, and personal property.

What is National debt?

• A tax levied on land, buildings, and personal property.

• A federal program of health insurance for people of the age 65 or older.

• The total amount of income that a country's government has borrowed.

• Money paid as a penalty for breaking one or multiple laws.

What are Fines?

• Government charges for a service or license.

• Money paid as a penalty for breaking one or multiple laws.

What are Fees?

• Money paid as a penalty for breaking one or multiple laws.

• Government charges for a service or license.