| A | B |
|---|
| Revenue | Money brought in to the government |
| Expenditure | Money spent by th government |
| Progressive Tax Rate | Tax rate where the more a person makes, the higher the percentage paid |
| Regressive Tax Rate | Tax rate where the more a person makes, the lower the percentage paid |
| Flat Tax Rate | A tax rate that is the same for any level of income |
| Income Tax | A direct tax on money a person earns |
| Tax Return | A form submitted to the government identifying earnings and deductions |
| Social Insurance Tax | tax which pays for a specific benefit later in life |
| Excise Tax | A tax on good manufactured and sold within the U.S. |
| Estate Tax | Tax on property transferred after a person's death |
| Gift Tax | A tax on property given to another person |
| Customs Duties | Taxes on imported goods (tariffs) |
| Sales Tax | a tax on all items sold - paid to the state |
| User Charges | revenue from individuals paying for a service |
| Highway User Tax | tax on gasoline designed to pay for roads |
| Personal Property Tax | Tax on things a person owns that can be moved easily (cars) |
| Real Property Tax | Tax on things a perso owns that cannot be moved easily (land - homes) |
| Borrowing | Congress' power to sell securities with the promise of repayment later |
| Securities | People give the government money now, then paid back later with interest |
| Public Debt | the total amount of money the governmnt owes (deficit) |
| Federal Reserve | Earnings the government makes from loaning money to banks |
| Public Lands | the government can charge companies to lease public property |
| Fines | money paid by people to the government as a penalty |
| Licensing | money paid to the government in order to do an activity |
