Chapter 12 Paying for Government

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Across
  1. 1. tax that takes a larger percentage of income from higher-income groups than from lower-income groups
  2. 6. interest plus the total amount of money the U.S. government has borrowed
  3. 7. budget in which revenue equals expenditures
  4. 8. payments charged by government for various licenses
  5. 10. money
  6. 13. import tax on products from other countries
  7. 14. careful examination by trained accountants of every item of income and every expenditure
Down
  1. 1. tax on the value of the property owned by a person or business
  2. 2. tax on the earnings of individuals and businesses
  3. 3. certificate stating that the government has borrowed a certain sum of money from the owner of the bond
  4. 4. tax that take a larger percentage of income from low-income groups than from high-income groups
  5. 5. payment made for the use of borrowed money
  6. 8. money charged as a penalty for breaking certain laws
  7. 9. income a business has left after paying expenses
  8. 11. excess of money, such as when a government collects more money than it spends
  9. 12. shortage of money, such as when a government spends more money that it collects