7.3 Taxation

A tax used to discourage harmful behaviors.

• Excise tax

• Income tax

• Sales tax

• Property tax

Taxes based on the amount of money earned in a payroll period.

• Sales taxes

• Property taxes

• Income taxes

• Capital gains taxes

Percentage of income paid in taxes increases as income increases.

• Regressive tax

• Flat tax

• Progressive tax

• Proportional tax

Taxes on imported goods.

• Tariffs

• Duties

• Excise Taxes

• Value Added Tax

A tax on the value of a piece of property.

• Property tax

• Income tax

• Sales tax

• Capital gains tax

Percentage of income paid in taxes decreases as income increases.

• Progressive tax

• Regressive tax

• Flat tax

• Proportional tax

A tax that takes the same percentage of each taxpayer's income.

• Progressive tax

• Regressive tax

• Proportional tax

• Flat tax