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15 Cards in this Set
- Front
- Back
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Regressive tax |
Makes middle and low income families pay a larger share of their incomes than the rich |
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Proportional tax |
Takes the same percentage of income from everyone, regardless of how much or how little they earn |
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Progressive tax |
Upper income families pay a larger share of their incomes in tax than do those with lower incomes |
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What type of tax is the fairest |
Progressive |
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What tax allows low income families to be exempted entirely |
Progressive |
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The wealthiest 1% of the us has more total income than the bottom _% |
40 |
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The best off _% makes more than the remaining _% combined |
20% 80% |
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The first federal income tax act was signed by _ |
Abraham Lincoln |
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The _ amendment to the Constitution was ratified, clarifying federal authority to impose a tax on incomes |
16th |
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Personal income tax |
Fairest tax Makes the rich pay their fair share, eases the tax burden for middle income families, and completely exempts the poor |
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Lincolns tax was... permanent? Or temporary wartime? |
Temporary wartime |
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Lincolns tax was a _, with a _ personal allowance and rates as high as _ for incomes exceeding _. |
Graduated levy $600 10% $10,000 |
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Opponents called the income tax |
Confiscatory Assault on capital Communism |
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Early individual tax rates, ranged from _, with only _ paying any tax at all due to generous personal exemptions. |
1-7% 1/100 Americans |
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Most states have very _ tax systems |
Regressive |
