Current Tax System – Background Ques.
When & why did our current income tax system
come into being?
What is a progressive income tax system?
What are our current progressive tax brackets?
What are FICA taxes?
You made $55,000 last year as a single filer, what do
you owe for income taxes? FICA taxes?
Explain the other taxes beyond income taxes (excise,
sales, capital gains, estate, state income, property)
What is the process implemented by our government
to collect our taxes?