Federal taxes

19 Cards

CURATED BY Matthew Yglesias

2014-04-30 12:09:53 -0400

  1. What are federal taxes?
  2. What is the point of taxes?
  3. What's the income tax?
  4. What's the payroll tax?
  5. Does America have the highest corporate taxes in the world?
  6. How do marginal tax rates work?
  7. Is it true that 47 percent of Americans don't pay taxes?
  8. Can cutting taxes increase revenue?
  9. If a raise puts me into a higher tax bracket, do I lose money?
  10. Why is investment income taxed at a lower rate than regular income?
  11. Are America's taxes high?
  12. How progressive are federal taxes?
  13. Why are federal taxes progressive and state and local taxes regressive?
  14. Do high taxes crush economic growth?
  15. Why are income taxes so complicated?
  16. What's the story with estate taxes?
  17. Where can I learn more about taxes?
  18. You didn't answer my question!
  19. How have these cards changed?
  1. Card 1 of 19

    What are federal taxes?

    Taxes are money that people and companies are legally required to pay to a government. Americans pay taxes to many different levels of government — to states, to cities to counties, sometimes to school districts or other entities — but wherever we live we are touched by the taxes collected by the federal government. Those are federal taxes.

    As you can see from this Tax Policy Center data, income taxes and payroll taxesaccount for the bulk of federal tax revenue in the United States:

    Federal_revenue

    The corporate income tax is much less important than the other two. Excise taxes are targeted sales taxes on things like cigarettes and alcohol. Other taxes include the estate tax (called the death tax by its opponents) levied on the wealth of very rich deceased people, as well as some minor fees.

  2. Card 2 of 19

    What is the point of taxes?

  3. Card 3 of 19

    What's the income tax?

  4. Card 4 of 19

    What's the payroll tax?

  5. Card 5 of 19

    Does America have the highest corporate taxes in the world?

  6. Card 6 of 19

    How do marginal tax rates work?

  7. Card 7 of 19

    Is it true that 47 percent of Americans don't pay taxes?

  8. Card 8 of 19

    Can cutting taxes increase revenue?

  9. Card 9 of 19

    If a raise puts me into a higher tax bracket, do I lose money?

  10. Card 10 of 19

    Why is investment income taxed at a lower rate than regular income?

  11. Card 11 of 19

    Are America's taxes high?

  12. Card 12 of 19

    How progressive are federal taxes?

  13. Card 13 of 19

    Why are federal taxes progressive and state and local taxes regressive?

  14. Card 14 of 19

    Do high taxes crush economic growth?

  15. Card 15 of 19

    Why are income taxes so complicated?

  16. Card 16 of 19

    What's the story with estate taxes?

  17. Card 17 of 19

    Where can I learn more about taxes?

  18. Card 18 of 19

    You didn't answer my question!

  19. Card 19 of 19

    How have these cards changed?

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