Unit 5:Choice Board

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Across
  1. 2. Total amount of money the U.S. government spends every year
  2. 4. A sales tax on specific items like gas, tobacco, and alcohol
  3. 7. More money is spent than taxes collected
  4. 8. 1st step in creating the federal budget
  5. 10. Taxes collected based on the profits of U.S. corporations
  6. 12. State and Local tax of the value of property, this includes items like; land, homes, and vehicles
  7. 16. Money allocated for paying off the national debt held by the public
  8. 20. Federal tax paid by the person who gives a gift
  9. 22. 4th step in creating the federal budget
  10. 23. The percentage of your income taxed is the same for all income levels, sometimes called a Flat Tax
  11. 25. The percentage of your income taxed increases as your income increases
  12. 29. Taxes on imports that are paid by the importer (the person who brings the product into the United States)
  13. 30. Spending subject to the appropriations process
  14. 32. Part of FICA that provides healthcare to seniors regardless of income
  15. 33. Taxes collected from U.S. citizens based on their individual income
Down
  1. 1. Spending amount is equal to the taxes collected
  2. 3. Number of budget surpluses in the past 1oo years
  3. 5. 2nd step in creating the federal budget
  4. 6. Taxed on individual income earned and withheld from your pay
  5. 9. Taxes collected to fund social insurance programs such as social security, medicare, unemployment insurance, etc
  6. 11. Taxes paid to the national government as a percentage of corporate profits.
  7. 13. Money put in a pocket (tax bracket) that is not taxed
  8. 14. Federal tax on the property of someone who has died
  9. 15. an annual plan outlining proposed revenues (from taxes) and expenditures (spending) for the coming fiscal year
  10. 17. The percentage of your income taxed decreases as your income increases
  11. 18. is the time period for spending and taxing
  12. 19. Spending for entitlement programs
  13. 21. Total amount of money the government collects every year
  14. 24. 5th step in creating the federal budget
  15. 26. Tax covered by FICA (Federal Insurance Contributions Act), used to provide the elderly and disabled with income
  16. 27. 3rd step in creating the federal budget
  17. 28. More taxes are collected than there is money spent
  18. 31. Taxes paid on purchases. All states, and some local governments, charge this