1. American Problems
Chapter 16 vocabulary

2. Progressive Tax
Any tax in which each step in the rate schedule is geared to the taxpayer’s ability to pay.

3. Tax Return
Declaration of taxable income and the exemptions and deductions claimed; filed with IRS.

4. Payroll Tax
Tax levied on employers and their employees, and on self-employed persons.

5. Regressive Tax
Any tax levied at a flat rate, i.e., falls most heavily on those least able to pay for it.

6. Excise Tax
Tax levied on the production, transportation, sale or consumption of goods or services.

7. Yearly shortfall between revenue and spending.
Deficit
Yearly shortfall between revenue and spending.

8. Tax levied directly on the estate of a deceased person.
Estate Tax
Tax levied directly on the estate of a deceased person.

9. Tax imposed on the making of a gift by a living person.
Gift Tax
Tax imposed on the making of a gift by a living person.

10. Tax (tariff) on goods brought into the U.S.
Customs Duty
Tax (tariff) on goods brought into the U.S.

11. Public Debt
All of the money borrowed by the government over the years and not yet repaid, plus the accrued interest on that money.

12. Entitlement
Benefits that federal law says must be paid to those persons who meet the eligibility requirements set for those payments.

13. Continuing Resolution
Measure that, when signed by the President, allows an agency to function on the basis of appropriations made the prior year.