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Chapter 12: Taxes and Taxation

Horizontales
this is what happens when the IRS questions your tax return
state and local governments generate money for education, fire protection and this through sales and property taxes
with this type regressive tax, poorer taxpayers spend a larger proportion of their income on taxable goods and services than do wealthier taxpayers
in ancient times, taxes were paid in these
supporters of this tax say that it is fair because everyone pays an equal share of the burden
to calculate the taxes you owe, multiply the tax rate by this
these taxes are levied on goods and services that the government wants to regulate, such as alcohol and cigarettes
the government gets most of its income from these
Verticales
Medicare and Social Security taxes are examples of these taxes
a change in assessed value can lead to a change in the amount of this type of tax
these are mandatory payments, unpopular and the price we pay for civilization
gas taxes and tolls are examples of this principle
the federal government funds the deficit by selling these
when the IRS takes taxes out of your paycheck it’s called this
when the federal government spends more than it makes in a given year it’s called this
this is what it’s called when the tax burden is so heavy there is less incentive to work
this did not exist in the US before 1913
taxpayers vote to approve or disapprove taxes by voting on these