| A | B |
|---|
| government plan to collect revenue and spend money | Fiscal Policy |
| spending money | Expenditure |
| income | Revenue |
| the less income that an individual makes the more they are taxed | Regressive Taxation |
| the more income that an individual makes the greater the percentage taxed | Progressive Taxation |
| individuals pay the same percentage of income tax | Proportional Taxation |
| a tax on income of an individual | Income tax |
| tax on specific goods and services. ex. gas, alcohol, | Excise tax |
| tax on corportate business revenue | Corporate tax |
| a tax over a certain amount of inheritance | Estate tax |
| money paid to use certain goods and services | User fees |
| a tax on imported goods | Tariffs |
| payments made by the government as a suppliemental income to those who are 65yrs and older | Social Security |
| a plan for raising and spending money | National budget |
| spending is greater than revenue | Budget Deficit |
| revenues are greater than expenditures | Budget Surplus |
| money owed by the government to creditors | National debt |
| spending exceeds revenues and govt. borrows money | Deficit spending |
| a report files with the Internal Revenue Service which shows taxable income | tax returns |
| monetary charge for an action | fines |
| a certificate issued by the government, which agrees to pay back the cost of the bond, plus interest | bonds |
| spending is equal to revenues collected | balanced budget |
