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2. | the belief that people should be taxed according to their ability to pay |
3. | the summery statement attached to a paycheck that summerizes income |
4. | a relatively high tax designed to raise revenue and reduce consumption of a socially undesirable product such as liquor or tobacco |
6. | a proportional tax on individual income after a specified threshold has been reached |
7. | total taxable income divided by the total income |
9. | funds collected by one level of goverment that are distributed to anothe level of goevenment for expenditures |
10. | a federal health-care program available to all senior citizens |
11. | the tax on people's earnings |
12. | exceptions or oversights in the tax law that allows some people and businesses to avoid paying taxes |
15. | the branch of the US Treasury Dept. in charge of collecting taxes |
16. | a tax that imposes a higher percentage rate of taxation on persons with higher incomes |
18. | a reduction in business taxes that are tied to investment in new plants anf equipment |
19. | the personal income rate that applies whenever the amount of taxes paid falls below some designated level |
21. | the tax a corperation profitspays on its |
24. | charges levied for the use of a good or sevice |
25. | profits from the sale of an asset held for 12 months |
26. | a tax that imposes a higher percentage rate of taxation on low incomes than on high incomes |
28. | adjustment of tax brackets to offset the effectsof inflation |
29. | a tax on tagible and intangible posessions such as real estate |
30. | an annual report to the IRS summerizing total income |