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16. Financing the Government.
Nontax Revenues and Borrowing.
Spending and the Budget.
higher one’s income, the higher the tax
a declaration of that income and of the exemptions and deductions he or she claims
amounts owed by employees are withheld from their paychecks
taxes levied at a flat rate, without regard to the level of a taxpayer’s income or his or her ability to pay them
tax laid on the manufacture, sale, or consumption of goods and/or the performance of services
levy imposed on the assets of one who dies
one imposed on the making of a gift by a living person
taxes laid on goods brought into the United States from abroad
a charge for borrowed money, generally a percentage of the amount borrowed
the yearly shortfall between income and outgo; and it borrowed heavily to make up the difference
more income than outgo
the government’s total outstanding indebtedness
benefits that federal law says must be paid to all those who meet the eligibility requirements
Congress and the President can decide each year just how much will be spent on many of the things that the government does
nearly 80% of all federal spending (paying interest on public debt)
when signed by the President, this allows the affected agencies to continue to function on the basis of the previous year’s appropriations
Financing the Government.
Interpreting Political Cartoons.
How does the Federal Government Draw Revenue?
The Federal Government’s Income (in billions of dollars)
Progressive Income Tax.
U.S. Department of the Interior.
Don’t Borrow Against the Future.
U.S. Postal Service.
Voices on Government.
Government Borrowing, 1940-2005.
Budgets in Crisis.
Food Stamp Program.
Entitlements, Interest on Public Debt, and Defense.
Federal Spending (in billions of dollars)
Interpreting Political Cartoons.
Analyzing Political Cartoons.
Nontax Revenues and Borrowing
Magruder’s American Government
The Congress, the President, and the Budget: The Politics of Taxing and Spending.
Chapter 16 – Financing Government By: Jason Winchell, Brock Pfingsten, Rasy Nhol, Mikhaela Creekmore.
CH 16, pp. 446 to 462 “Death and Taxes”. Tax return A declaration of a person’s or business’s income for a given year – Jan. 1 to December 31. Filed by.
Tuesday 4/7 RAP What do you think of this political cartoon? Today: Movie “Dave”
Warm-up: Make sure you have completed small group questions from Friday How and why did the Constitution give Congress the power to tax. List the most.
American Problems Chapter 16 vocabulary.
Taxes and Spending Chapter 14. SECTION 1 Taxes Three Major Federal Taxes The government collects three major federal taxes: personal income tax, corporate.
Taxes. Limitations on taxes May be levied on for public purposes Export taxes are prohibited Direct taxes must be proportional according to a states'
The Federal Budget and Social Security. Key Terms Budget A financial plan for the use of money, personnel, and property. Balanced Budget When.
Taxes and Taxation “In this world, nothing is certain but death and taxes.” Ben Franklin.
Taxes And Spending “In this world, nothing is certain but death and taxes” -Benjamin Franklin.
Sources of Federal Revenue Chapter 14 pp
Taxes and the Federal Budget
CHAPTER 20 SECTION 1 PGS Taxing and Spending.
The Federal Budget and Social Security. Introduction Key Terms – Budget – A financial plan for the use of money, personnel, and property. – Balanced Budget.
Financing Government Chapter 16 Notes
Chapter 16: Financing Government Section 1
Describe the difference between selective and general sales taxes.
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