Government Revenue and Taxes

What percent of government revenue comes from taxes?

• 25%

• 50%

• 75%

• 90%

What type of tax is the main source of income for public schools?

• Property tax

• Sales tax

• Income tax

• Corporate tax

What level of government sets the tax rate to fund police, roads, and schools?

• Local

• State

• Federal

• International

What level of government sets the sales tax?

• Local

• State

• Federal

• International

What is the main source of Federal Government Revenue?

• Property taxes

• Corporate taxes

• Income taxes

• Sales taxes

How often are property taxes collected?

• Monthly

• Quarterly

• Biannually

• Annually

What is a proportional tax?

• Tax rate decreases as the taxable amount increases

• Tax rate increases as the taxable amount increases

• Tax rate remains the same regardless of the taxable amount

• No taxes are collected

What is a progressive tax?

• Tax rate decreases as the taxable amount increases

• Tax rate increases as the taxable amount increases

• Tax rate remains the same regardless of the taxable amount

• No taxes are collected

What is a regressive tax?

• Tax rate decreases as the taxable amount increases

• Tax rate increases as the taxable amount increases

• Tax rate remains the same regardless of the taxable amount

• No taxes are collected

What is meant by the term Federal Deficit?

• When the government spends more than it earns

• When the government earns more than it spends

• When the government's debt is fully paid

• When the government has no financial obligations