Government Revenue

primary way of funding the government

• fees

• taxes

• printing more money

• interest

everyone pays the same tax rate

• progressive tax

• regressive tax

• flat tax

• plain tax

exceptions or oversights in the tax laws that allow some people and businesses to avoid paying taxes

• deductions

• capital gains

• tax cheats

• tax loopholes

The federal tax on people’s earnings

• income tax

• sin tax

• excise tax

• sales tax

A general tax levied on most consumers purchases

• income tax

• sin tax

• excise tax

• sales tax

An annual report to the IRS summarizing total income, deductions and taxes withheld

• w2 form

• w4 form

• tax return

• EZ tax form

states that those who benefit from government goods and services should pay in proportion to the amount of benefits they receive

• welfare tax principle

• benefit principle of taxation

• you use it, you lose it principle of taxation

• ability to pay principle of taxation

The belief that people should be taxed according to their ability to pay, regardless of benefits they receive

• welfare tax principle

• benefit principle of taxation

• you use it, you lose it principle of taxation

• ability to pay principle of taxation

a tax that imposes a higher percentage rate of taxation on higher incomes than on lower ones.

• progressive tax

• regressive tax

• flat tax

• plain tax

a tax that imposes a higher percentage rate of taxation on lower incomes than on higher incomes.

• progressive tax

• regressive tax

• flat tax

• plain tax