Unit 5: The Role of Government

Chapter 27 - We Are All Taxpayers

Key Terms

public goods and services

public sector

income tax

excise tax

sales tax

payroll tax

property tax

estate tax

gift tax

user fee

income redistribution

protective tariff

revenue tariff

sin tax

school tax

benefits-received principle

ability-to-pay principle

deduction

progressive tax

taxable income

self-employment tax

proportional tax

regressive tax

loophole

indirect tax

direct tax

Chapter 28 -Government Spending and Budgeting 

Key Terms

federal budget

budget process

fiscal year

mandatory spending

discretionary spending

entitlements 

longevity

environmental property 

social problem

receipts

expenditures

balanced budget

deficit budget

national debt

surplus budget

income security