Cents on National Parks and $15 on Medicare." We'll be looking at this topic next week. The article mentions four types of taxes: individual income taxes (people pay based on money they earn from work and investments), payroll taxes (individuals pay each pay period for Medicare (health care for seniors), Medicaid (health care for the poor) and Social Security), corporate income taxes, and other taxes, like customs duties (paid on some imports) and excise taxes (on items like gasoline and cigarettes). In order, which of these raise the most and then the second most?
- individual income taxes, payroll taxes
- payroll taxes, corporate income taxes
- corporate income taxes, customs duties and excise taxes
- customs duties and excise taxes, individual income taxes