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# Taxation **A. Which Tax Is It?** Match each scenario with the tax it is describing. 1. **Yvonne buys gloves that cost \$10.00. At the register, she must pay \$10.80.** → **Sales Tax** 2. **Sasha bought a townhouse last year. She just got a tax bill from the county showing the value of her h...

# Taxation **A. Which Tax Is It?** Match each scenario with the tax it is describing. 1. **Yvonne buys gloves that cost \$10.00. At the register, she must pay \$10.80.** → **Sales Tax** 2. **Sasha bought a townhouse last year. She just got a tax bill from the county showing the value of her house and the amount of tax she owes.** → **Property Tax** 3. **Bigmart sells boots that are made in China and boots made in the U.S. Bigmart must pay 27% tax on each pair made in China, but not on the US-made pairs.** → **Tariff** 4. **State citizens voted to add a 75-cent tax to each pack of cigarettes to pay for programs to help people quit smoking.** → **Excise Tax** 5. **Jake got his paycheck today. He worked 40 hours at \$20 per hour. His gross pay was \$800, but the amount of his paycheck was only \$623.15.** → **Income/Social Security/Medicare Taxes** 6. **Clyde Cash owned two houses, three office buildings, a Bugatti Veyron, antiques, stocks, and a jet, all worth \$25 million. He passed away. His heirs owe the government \$9 million in taxes.** → **Estate Tax** **B. Tax Organizer** | Taxes You Pay | Description | |---|---| | **Sales Tax** | A percentage of the total price for everything in your shopping cart. | | **Excise Tax** | Added to the price of certain items such as transportation | | **Tariffs** | Added to the price of many goods made in other countries | | **Income Tax** | A percentage of the total amount of income you have for the year | | **S.S Tax** | Used to fund retirement program for U.S. workers. | | **Medicare Tax** | Used to fund a health care program for people age 65 and over.| | **Property Tax** | A tax on the value of land and property you own | | **Estate Tax** | A tax on what you own when you die, if it is worth a very high amount | **Note** The graphic organizer contains a visual representation. A summary of the information and links between the taxes has been included in this table.