| A | B |
|---|
| Must be filed every year | tax return |
| Corporations that receive tax breaks | Nike, Boeing |
| Industries that receive subsidies | Agriculture, fossil fuels |
| Makes up 50% of federal tax revenue | income tax |
| Includes social security | payroll tax |
| Taxes specific items like gas | excise tax |
| Disincentivizes unhealthy or harmful purchases like cigarettes | sin tax |
| Tax on interest from investments | capital gains tax |
| Organization that oversees taxation | IRS |
| Taxes the same percentage of all incomes | flat tax |
| Taxes higher incomes more heavily | progressive tax |
| Places a higher tax burden on poor people | regressive tax |
| Taxes you pay directly to the government | direct tax |
| Taxes you pay through another party instead of the government | indirect tax |
| Money the government pays to an industry | subsidy |
| Eliminate an asset from income when filing taxes | write-off |
