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Federal Budget and Taxes Review

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Across
1.the government's expectation of how much money it will need in the coming year
5.money a person or the government receives
8.type of tax paid on all the money a person receives in a year
11.tax paid on the assets of a person's property when they die
12.the US has an excise tax on cigarettes, alcohol, and ______
17.tax taken out of your paycheck to pay for social security and medicare
18.tax on goods imported into the country
21.tax on houses and cars
22.nickname for excise tax
23.taxes that increase as income increases, such as the income tax
24.the highest expenditure for state and local governments
Down
2.tax paid when a person gives a gift over $10000
3.term that means to "impose a tax"
4.this results when expenditures exceed revenue
6.level of government that spends most of its tax revenue on social security
7.money a person or the government spends
9.all the money the US government owes its creditors
10.tax on goods you purchase
13.the Suger Act is an example of this type of tax
14.type of tax in which everyone pays the same rate, such as sales tax
15.the highest expenditure for the national government
16.level of government that gets most of its tax revenue from property taxes
19.the President submits the budget to _____ for approval
20.If Congress and the President cannot agree on a budget, this can happen

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