Your Role As A Taxpayer Page 2
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1
2Answer Key:
A. 24%
B. 7%
C. 32%
D. 30%
D
Borrowing to cover deficit
A Social Security, Medicare, unemployment and other retirement taxes
B
Corporate income taxes
C
Personal income taxes
Part 3
Use the pie charts from Part 2 to answer the following questions. Indicate whether each
of the statements below is True or False. Write your answer in the space provided.
1. The largest federal outlay is for Defense. False
2. Social Security, Medicare, and other retirement accounts for 38% of federal spending.
True
3. Personal income tax accounts for the greatest tax revenue. True
4. More government dollars are spent on Law Enforcement than on Defense. False
5. Corporate Income Taxes make up 7% of federal revenue. True
Understanding Taxes
2
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