Government Taxes

Taxes fund ______ _____.

• Public Goods

• Progressive Tax

• Sales Tax

• Monetary Policy

What are the 3 levels of government taxes.

• Local, State, and National

• Macroeconomics, Monetary Policy, and Fiscal Policy

• Sales Tax, Income Tax, and Medicare

An example of a national government is the United States.

• True

• False

What is Progressive Tax?

• As income increases, your taxes increase

• As income increases, you taxes decrease

• Regardless of your income, you are taxed a flat rate

What is Regressive Tax?

• As income increases, your taxes increase

• As income increases, your taxes decrease

• Regardless of your income, you are taxed a flat rate

Proportional Tax is also known as ____ ___.

(a)  

What are the 2 federal income taxes deducted from your paycheck?

• Social Security

• Property

• Medicare

• Food Stamps

Does the state of Texas have a state income tax?

• Yes, Texas has a state income tax

• No, Texas does not have a state income tax

Property Tax is a tax on the value of the ​________ and _________.

• property
• mortgage

• land

• income

What government programs does property tax fund? Select 3 answer choices.

• Medicare

• Public Schools

• Roads/Highways

• Police/Fire