Fiscal Policy & Taxes
Published on Apr 30, 2016
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PRESENTATION OUTLINE
Understanding Fiscal Policy
Header
Taxes Vocabulary
- fiscal policy
- progressive tax
- regressive tax
- flat tax
How government collects money
(called revenue)
and spends money (called expenditures)
Fiscal Policy defined
Progressive Tax
vocabulary # 2
a tax that takes a larger percentage from high-income earners than it does from low-income individuals
Example of Progressive Tax
- Federal Income Tax
- sliding scale for services
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Regressive Tax
vocabulary #3
a tax that takes a larger percentage from low-income people than from high-income people.
Examples of Regressive Taxes
- property tax
- sales tax
- user fees (parks, car registration, hunting license, etc.)
- hotel room, entertainment tickets, airline ticket
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a system that applies the same tax rate to every taxpayer regardless of income bracket.
Fair Share
sounds good, but not so simple
