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Unformatted text preview: siness slumps and be curbed
supply side economics a theory that states changes in marginal tax rates influence economic
Grover Norquist Anti Tax Pledge a promise to never, ever to vote for a tax increase.
progressive income taxA system of taxation in which persons or corporations are assessed at a
greater percentage of their income according to the theoretical ability to pay Budget Process
Here is a flowchart describing the annual federal budget. Use the pie chart above or go to A Citizen’s Guide to the Federal Budget.
Where does the federal government get most of its revenue? individual income
What is the second highest source of government revenue?social insurance and
retirement receipts _____________
What is the third highest source of government revenue? corporation income
Where else does the government get its revenue? Excise taxes Go to A Citizen’s Guide to the Federal Budget.
What is the total amount of revenue the federal government took in?From the year...
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This note was uploaded on 02/13/2014 for the course HISTORY AP Governm taught by Professor Richardhoppock during the Fall '12 term at Hayfield Secondary.
- Fall '12