Mr Gold Economics PFM

Which tax from your pay stub goes towards federal government operations

• Property Tax

• FED Tax

• Sales Tax

• Social Security Tax

Define 'Progressive Tax'

• Taxes paid by the progressive party

• A tax for which the percentage of income paid in taxes remains the same at all income levels.

• Tax for which the percentage of income paid in taxes increases as income increases.

• Levied on the sale of goods and services

Proportional Tax

• A tax for which the percentage of income paid in taxes remains the same at all income levels.

• A tax for which the percentage of income paid in taxes increases as income increases.

• A tax for which the percentage of income paid in taxes decreases as income increases.

• Final burden of tax.

Tax Base

• A tax paid by a corporation

• The base level of tax required to be paid by all citizens.

• The place where taxes are held

• The income, property, good or service that is subject to tax.

Property Tax

• The final burden of tax

• Based on real estate and other property.

• A tax for which the percentage of income paid in taxes remains the same at all income levels.

• Levied on the sale of goods and services.

Select one of the reasons to have a checking account.

• You get to show off your debit card

• Allows you to travel to other countries.

• Paying bills is easier (online bill pay)

• Free meals at a bank.

What is a benefit of having a spending plan?

• Show to your family you are mature.

• To get a good grade in college.

• Put aside money for savings goal

Select the THREE types of expenses that most people have.

• Fixed

• Timed

• Flexible

• Periodic

Credit

• When you use your debit card.

• The trust you have with friends

• Money that a business or lender will allow a person to borrow.

What TWO benefits to having a good credit score?

• Borrow money cheaper

• Show off a new credit card

• you are invited to larger parties.

• Borrow larger amounts of money.