Additional Study Guide Before Test #1 (ANSWER KEY)

Additional Study Guide Before Test #1 (ANSWER KEY) - Heaton...

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Heaton Mitchell T. Heaton Mr. Newport American Government 5 November 2009 Additional Study Guide Before Test #1 (ANSWER KEY) ____ individual income tax ________ What is the source of the largest amount of federal income? ____ graduated tax (progressive tax) _______ What is the term for the type of tax that entails the more money you have, the greater the tax? ________ April 15 _______________________________________ When are income taxes due? ____________ 2010 _________________________________ When do the Bush tax cuts expire? ____ regressive taxes _____________ What type of taxes are Social Security and Medicare taxes? T or F More people pay more of Social Security and Medicare Taxes than income tax. ___ the first $2 million _____________ In death taxes, what portion of the inheritance is exempt? ___ Custom Duties (tariff) _____________________ What is the name for taxes paid on imports? ___________ Treasury Bills (used for government borrowing money)__ ____ What are “T Bills”? T or F Purchasing a T-bill is like investing in money. __
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This note was uploaded on 02/26/2012 for the course GENERAL 101 taught by Professor None during the Spring '12 term at Aurora University.

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Additional Study Guide Before Test #1 (ANSWER KEY) - Heaton...

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