Madison County Democrat. (London, Ohio) 19??-1958, 1952-09-26
GOOD GOVERNMENT is
EVERYBODY'S BUSINESS

government, to provide funds for government
penditures
How Many KINDS OF TAXES?
Direct tax, Indirect taxes, progressive tax, re-
gressive tax consumption tax corporation tax
profit tax, excise tax inheritance tax lux
ury payroll tax, poll tax, social security tax
unemployment tax, personal property tax, sales
tax and transaction tax.
What Is DIRECT TAX? esas4.S 4ss.@s
Taxes paid directly to the government by the
taxpayer.
What Is an INDIRECT TAX?
One paid as part of the price on goods bought
at retail.
What Is PROGRESSIVE TAX?
One in which the rate becomes larger with in
creaSes in amount taxed
What Is CONSUMPTION TAX?
One based on the consumption or expenditure
for article.
What Is CORPORATION TAX?
One paid directly by corporation such as in
come tax, excess profit tax processing tax, etc.
What Is EXCISE TAX?
A tax levied a specified type of goods, COM
modities services produced within the country
where they consumed.
What Is EXCESS PROFIT TAX?
An additional tax paid corporate incomes
which in of average normal income
invested capital. ~-t
What Is INCOME TAX?
One which is imposed the income of an indi-
vidual group corporation.
What Is INHERITANCE TAX?
A tax income wealth, property, or anything
which is inherited.
What Is LUXURY. TAX?
not considered to be actual necessities.
What is a PAYROLL TAX?
One levied on the payroll of corporation, such
as one levied for old age benefits (social security
taxi, or one levied by the various States for
employment benefits unemployment taxi
What is a PERSONAL PROPERTY TAX?
One levied personal possessions such
Jewels slverware fur coats, pianos autos etc.
What is SALES TAX?
One levied the retail selling price of
What Is a TRANSACTION TAX?
One levied financial transactions above
given size
A per capita tax which is usally fixed amount; "a
regardless of wealth. Used by of the south
ern States this tax must be paid before has
the right to vote.
What Is YOUR TAX RATE?
The tax rate varies according to income but.
it is estimated the average taxpayer of medium
income pays federal state and local governments
in of 30c in taxes for every S100 he earns.
What Is the CORPORATION TAX RATE2le .,a
The normal tax rate is 30% on all profits and
the surtax rate is 229o incomes $4,000. @~
In addition to income tax, corporations pay
sS pesy tax tax at ranging eG gafe 0f
on earnings considered to be unreasonably ac-
cumulated.
What Is the Source of
GOVERNMENT INCOME?
The Government has no money excepting that
which it receives from the taxpayers. 1t is your '1
money that the government spends ae.,
What Are the Total GOVERNMENT
EXPENDITURES? .s-.1
u. =.
our expenditures for the fiscal year 1852 will
reach approximately ST. 5940oooo0 and d. that our
receipts will be approximately, $55,138oOoooo,
leaving a deficit og S16,456, 100000
How Much Have EXPENDITURES
INCREASED?
In 1897 our actual receipts were S4979 100000
.and expenditures were $7,756 100000 leaving
a defect of $2777,O00,000.
How Much for DEFENSE?
More than half of present budget goes for
foreign aid and defense
How Many GOVERNMENT EMPLOYEES?
Twenty years ago there were approximately
$50 thousand civilians the Federal payroll. AS
of January 1852 this number had increased to g.
$4,000 civilians. In the past twenty years govern
ment bureaus sections services etc. have lncreas-
ed more than 1000.
What Is DEFICIT FINANCING? -f
When the government does not get enough
money from tax payers to pay its bills, it borrows
money which must be repaid later This is deficit
financing.
What Is the Total NATIONAL DEBT?
The us. Treasury Department reports that the
total gross National debt as of June 3d. 1851 was
S255 251 100000.
What Is Your PERSONAL DEBT?
II the public debt was &c equally divided ya among among
they would each owe $169380,
What Are the INTEREST CHARGES?
Between five and six billion dollars in interest
is required annually on this debt.
What is the DEBT LIMIT?
Two hundred seventy five billion dollars
What Is the FUNCTION OF CONGRESS?
Congress is the legislative branch of govern
ment. 1t has, in addition to other general powers,
the power to lay and collect taxes regulate COM
merce, declare and to enact laws for the
common defense and welfare of the United States.
How Does Congress Make LAW? &.
The Senate and The House of Representatives
vote and pass bill, which is then sent to The
President for his signature When the President
signs the bill it becomes law.
What Is BILL?
bill is proposed law, presented to Congress
for action.
What is RIDER?
A BILL resolution or order which ordinarily has
a slim chance of passage by itself, attached to
another bill which favorable action seems
assured.
What Is VETO? 6e##G 80.
The legislative power of the President and Gov
to disapprove legislation. The Constitution
provides the President shall sign bill or return
to he with 10 ten with his