A tax system where the tax rate increases as taxable income rises, meaning higher-income individuals pay a larger percentage of their income in taxes. (the rich pay more)

An income tax system that applies the same percentage tax rate to all individuals, regardless of their income level, often referred to as a flat tax.

A tax system where the average tax burden decreases as income increases, resulting in lower-income individuals paying a higher percentage of their income in taxes. (the poor pay more)

A financial situation where government expenditures exceed revenue, resulting in a shortfall.

A financial situation where government revenue exceeds expenditures, resulting in excess funds.

The total amount of money that the federal government has borrowed to cover its expenditures over time.

Government spending that is not mandated by law and can be adjusted through the annual budget process, such as funding for education and defense.

Government spending that is required by law, including programs like Medicare, Medicaid, and Social Security.