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TAXES TAXES AND MORE TAXES. What are some examples and what is their purpose?. Excise tax. A tax, similar to a sales tax, imposed on some goods. Ex. Luxuries items such as boats and cars. Sales tax. A tax on any item that is sold. Ex. Food, clothes, shoes, XBOX 360. Income tax.
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TAXES TAXES AND MORE TAXES What are some examples and what is their purpose?
Excise tax • A tax, similar to a sales tax, imposed on some goods. • Ex. Luxuries items such as boats and cars
Sales tax • A tax on any item that is sold. • Ex. Food, clothes, shoes, XBOX 360
Income tax • A tax on income(money) that is earned. • Ex. Tax paid to our state & federal governments.
Graduated or Progressive Income Tax • A tax of a higher rate on people with higher income. Lower incomes are not taxed as much. • Ex. A person earning $1,000,000 per year would pay a higher % rate than someone earning $10,000 per year.
Poll tax • A tax of a certain amount per person that must be paid before the person could be considered to vote. • Ex. No longer exists BUT used to exist as a way to disenfranchise African-American voters or poor whites.
Which tax affects you the most? • Think about the previous taxes discussed and as a table group rank them in order of LEAST acceptable (HATE IT) to MOST acceptable (UNDERSTANDABLE). Be prepared to defend your ranking of the taxes and explain with detail.
NEW TAX?? • Act as if you are a member of the House of Representatives and you decide to come up with a NEW type of tax that will raise money for the government which the people of the United States will not find objectionable. Be creative and think about what your tax will be named and describe who the tax will affect and how it will affect them.
