UNIT 6 MONEY AND TAXES SUMMATIVE REVIEW

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Across
  1. 1. THE LOWER YOUR INCOME, THE HIGHER PERCENT GOES TOWARDS TAXES
  2. 5. EVERYONE PAYS THE SAME PERCENTAGE OF TAXES
  3. 6. A TAX ON THE VALUE OF A GIFT (2 WORDS)
  4. 8. ANYTHING THAT PEOPLE WILL ACCEPT AS PAYMENT FOR A GOOD OR SERVICE
  5. 9. MONEY CAN NOT DECOMPOSE OR BREAK EASILY
  6. 10. TAXABLE INCOME IS BROKEN DOWN INTO SMALLER PARTS (2 WORDS)
  7. 12. A TAX ADDED TO MOST GOODS OR SERVICES (2 WORDS)
  8. 13. HOW EASILY YOU CAN ACCESS YOUR MONEY
  9. 15. ADDITIONAL TAXES ADDED TO CIGARETTES, ALCOHOL, AND SODA (2 WORDS)
  10. 22. A NATIONAL HEALTH INSURANCE FOR CITIZENS 65&OLDER (a part of FICA)
  11. 24. THE HIGHER YOUR INCOME THE MORE TAXES YOU PAY
  12. 25. MONEY NEEDS TO BREAK DOWN INTO SMALLER AMOUNTS
  13. 26. WHO ULTIMATELY PAYS FOR INCREASE IN TAXES
Down
  1. 2. A DOLLAR BILL IS EQUAL TO 5 DOLLARS IN SILVER
  2. 3. A PAYROLL TAX THAT COVERS ELDERLY, UNEMPLOYED DUE TO DISABILITY, AND SURVIVING MEMBERS OF WORKERS WHO HAVE DIED (abbreviation)
  3. 4. MONEY CAN BE EASILY CARRIED AROUND
  4. 7. MONEY HAS VALUE BECAUSE THE GOVT SAYS IT DOES
  5. 11. TAXES ARE NOT VOLUNTARY. THEY ARE A _______ PAYMENT TO THE GOV’T. (Starts with an M)
  6. 14. THE GOV'T USES ________ TO GENERATE REVENUE THAT FUNDS PUBLIC SERVICES
  7. 16. GOLD IS AN EXAMPLE OF THIS TYPE OF MONEY
  8. 17. PROVIDES FINANCIAL ASSISTANCE TO RETIREES, PEOPLE W/ DISABILITIES, AND SURVIVORS OF DECEASED WORKERS (a part of FICA) (2 WORDS)
  9. 18. A TAX ON INDIVIDUALS AND BUSINESSES EARNINGS (2 WORDS)
  10. 19. SALES TAX IS AN EXAMPLE OF A REGRESSIVE TAX (TRUE OR FALSE)
  11. 20. FOOD CAN NOT BE USED AS MONEY BECAUSE IT LACKS THIS MONEY CHARACTERISTIC
  12. 21. CIGARETTES, GAMBLING, AND GAS HAVE THIS ADDITIONAL TAX (2 WORDS)
  13. 23. CITIZENS PAY TAXES WHICH BECOMES ______ FOR THE GOVERNMENT