Unit 4 Test Review

What is a Tax?

• uhhhhhhhhh.....idk

• money for gubment

• A required payment to a local, state, or national government

• watches tiktok on phone instead of answering question (most of you right now)

Which historical document gave Congress the power to tax?

• The Constitution

• The Magna Carta

• The Bill of Rights

• Tiktok

What is a tax base?

• The IRS

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

• The Fed

• LMAOOOO IDK BRUH

What is a proportional tax?

• A tax

• Im not the IRS bro how should I know

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

• Something that is proportional and is a tax

What is a progressive tax?

• A tax where the more money you make the more the gubment takes

• Something that is progressive and is a tax

• A democrat tax

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

What is a Regressive tax?

• A tax for higher income households that increases as it decreases

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

• Something that is Regressive and is a tax

• idk im just on tiktok rn bro fr fr

What is the incidence of a tax?

• A incidence of a tax

• The final burden of a tax

• A tax that is full of Rizz

• A tax that is straight bussin rn fr fr

What is a tax withholding?

• A tax that holds hands

• A tax that is taken from you from the gubment

• A tax with holding

• Taking payments out of your pay before you receive it.

What is a tax return?

• A tax that is returned

• A form used to file income taxes

• IDK bro im still on tiktok rn fr fr

• A return of funds that was taxed out of your paycheck

What are personal exemptions?

• An amount of money taken from your paycheck yearly for personal exemptions

• Its personal

• Set amounts that you subtract from your gross income for yourself, your spouse, and any other dependents.

• An exemption that is personal