Micro Unit 6.5 CW: Types of Taxes (Matching)

Last updated 10 months ago

4 questions

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__________ Tax

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__________ Tax

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__________ Tax

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1

__________ Tax

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__________ Tax

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__________ Tax

Draggable item		Corresponding Item
federal tax paid by person who gives a large gift valued over $14,000; progressive; direct		tax incidence
change in taxes/ change in income		average tax rate
tax paid by the consumer on a specific good (alcohol, tobacco, gasoline); regressive; indirect; benefit principle		marginal tax rate
more money you earn, greater % of income you pay in taxes		tax bracket
who actually bears the burden of paying tax		direct tax
intermediary collects the tax and then passes it on to the government		indirect tax
tax paid by the consumer on a specific good (alcohol, tobacco, gasoline); regressive; indirect; benefit principle		ability to pay principle
death tax; federal tax on someone who has died; progressive; direct		proportional tax (flat tax)
taxes covered by FICA; income for retirees, survivors, disabled; regressive; employers= indirect; employees= direct		progressive tax
state and local taxation of the value of property; regressive; indirect= landlords, direct=homeowners		regressive tax
collected from person who is being taxed		personal income tax
tax on income earned (wages, tips, earnings on savings); progressive; direct; based on ability to pay principle		sales tax
philosophy that taxation should be based upon one's ability to pay (rather than amount of benefit received)		excise tax
total taxes/total income		property tax
all incomes taxed same %		social security
marginal tax rate (what you pay on your last dollar)		estate tax
less money you earn, greater % of income you pay in taxes		gift tax

federal tax paid by person who gives a large gift valued over $14,000; progressive; direct

tax incidence

change in taxes/ change in income

average tax rate

tax paid by the consumer on a specific good (alcohol, tobacco, gasoline); regressive; indirect; benefit principle

marginal tax rate

more money you earn, greater % of income you pay in taxes

tax bracket

who actually bears the burden of paying tax

direct tax

intermediary collects the tax and then passes it on to the government

indirect tax

tax paid by the consumer on a specific good (alcohol, tobacco, gasoline); regressive; indirect; benefit principle

ability to pay principle

death tax; federal tax on someone who has died; progressive; direct

proportional tax (flat tax)

taxes covered by FICA; income for retirees, survivors, disabled; regressive; employers= indirect; employees= direct

progressive tax

state and local taxation of the value of property; regressive; indirect= landlords, direct=homeowners

regressive tax

collected from person who is being taxed

personal income tax

tax on income earned (wages, tips, earnings on savings); progressive; direct; based on ability to pay principle

sales tax

philosophy that taxation should be based upon one's ability to pay (rather than amount of benefit received)

excise tax

total taxes/total income

property tax

all incomes taxed same %

social security

marginal tax rate (what you pay on your last dollar)

estate tax

less money you earn, greater % of income you pay in taxes

gift tax