Unit 5: Taxes

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Across
  1. 6. An annual plan outlining proposed revenue (from taxes) and expenditures for the coming fiscal year.
  2. 7. The % of your income taxed is the same for all income levels. Sometimes called a Flat Tax.
  3. 8. Provides low-cost health insurance coverage to children in families that earn too much to qualify for Medicaid.
  4. 11. Public health insurance program for people with low incomes who lack access to affordable health insurance.
  5. 13. SNAP benefits specifically for women, infants, and children.
  6. 14. Federal tax paid by the person who gives a gift.
  7. 15. State and local tax of the value of property. This includes items like land, homes, and vehicles.
  8. 18. Provides nutrition benefits to supplement the food budget of needy families so that they can purchase healthy food. (Food Stamps)
  9. 20. The % of your income taxed decreased as your income increases.
  10. 22. Taxes > Spending
  11. 23. The time period for spending and taxing.
  12. 24. Provides decent and safe rental housing for eligible low-income families, the elderly, and perosns with disabilities. The housing is NOT free, but rent is reduced significantly.
  13. 25. Taxes paid to the national government as a % of corporate profits. Some states also charge corporate income taxes.
Down
  1. 1. Taxes = Spending
  2. 2. Part of FICA that provides healthcare to seniors regardless of income.
  3. 3. Taxes < Spending
  4. 4. The % of your income taxed increases as your income increases.
  5. 5. Taxed on individual income earned and withheld from your pay. A major source of revenue for the fed and income taxes can very by state.
  6. 9. Taxes collected from U.S. citizens based on their individual income.
  7. 10. Federal Tax on the property of someone who has died.
  8. 12. Taxes on imports that are paid by the importer.
  9. 16. Taxes collected to fund social insurance programs such as social security, madicare, unemploymen insurance, etc.
  10. 17. A sales tax on specific items like gas, tabacoo, and alcohol.
  11. 18. Taxes paid on purchases. All states, and some local governments, charge a sales tax.
  12. 19. A mandatory contribuition leveled on individuals or corporations by a government entity - whether local, regional or national.
  13. 21. Tax covered by FICA. Used to provide the elderly and disabled with income.