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2.02 Tax Terms

AB
Funds the Social Security and Medicare programsPayroll Tax
The fee to license a car is this type of taxProperty Tax
A tax on earned and unearned incomeIncome Tax
The tax on airline tickets and gasolineExcise Tax
This tax is determined by a set percentage of earned incomePersonal Income Tax
A tax on purchased goods and servicesSales Tax
Income tax increases as the amount of income increaseProgressive Income Tax
the income you earn from working for pay such as wages or salariesEarned Income
income received from sources other than employment, such as the interest from a savings accountUnearned Income
federal government program that helps citizens fund retirement, as well as helps people who have experienced profound disability, the premature death of a parent (if under the age of 18), or the premature death of a spouse in a family with children.Social Security
federal program with the main purpose to help pay for health care for senior citizens in the U.S.Medicare


Business, Finance and Information Technology Teacher
T C ROBERSON HIGH SCHOOL
Asheville, NC

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