| A | B |
|---|
| income tax | a tax on a person’s earnings |
| progressive tax | – a plan under which the percentage of a person’s wages paid as income tax increases as the wages increase. |
| flat tax | an income tax under which everyone pays the same percentage of his or her wages. |
| sales tax | tax on a purchase. |
| property tax | tax on the value of something that a person owns |
| excise tax | – tax on a specific item, such as cigarettes, alcohol, or gasoline |
| entitlement | – a governmental program, such as food stamps or veterans; pensions, available to people who meet its requirements |
| budget | a detailed plan showing earnings and expenses over a period of time |
| revenue | – income collected or produced |
