What are Taxes? (…and Why Do We Have to Pay Them?)

Slides:



Advertisements
Similar presentations
Local Government Services and revenue.
Advertisements

Citizen Me! ALL Part One the LAYERS to YOUR CITIZENSHIP.
Taxes © 2013 Created by Sally Camden ~ The Reflective Educator ~
Citizen Me! ALL the LAYERS to YOUR CITIZENSHIP Part One.
Income Taxes Accounting I. Why do we have taxes at all? The United States has a big budget. –We have to pay for things like schools, roads, hospitals,
Chad Shelton.  Being a police officer is one of my dream jobs because I want to help keep the city safe. Being a police officer to me is one of the best.
Government 3 rd Grade. GA Grade 3, Social Studies StandardSS3E2 The student will explain that governments provide certain types of goods and services.
Why do People Need Governments? LESSON ONE - UNIT FIVE: THE GOVERNMENT OF MICHIGAN.
Ms. Garcia Social Studies Review 5 th GRADE CLASS REVIEW.
LESSON TWO – UNIT FIVE: THE GOVERNMENT OF MICHIGAN What is a Representative Government?
STANDARDS 1.4.3, Local and State Governments.
I CAN DETERMINE AND EXPLAIN THE IMPORTANCE OF CREATING A BUDGET AND HOW IT SUPPORTS GOOD FINANCIAL DECISION MAKING.
Economic continued Lets get through this so that we can work all next week on a debate.
“In this world, nothing is certain but death and taxes”
“In this world, nothing is certain but death and taxes”
Political discussion Level 1.
What are Taxes? (…and Why do I have to Pay Them?)
Free Enterprise Own Your Own Business
Junior Achievement hopes you had an awesome day at JA BizTown!
The Government and the Economy
Chapter 12 Local Government.
Mr. Sullivan Building Wealth
Math 1050 Project Part 3 Joshua Funderburk Sarah Hansen
The Federal Reserve System
The Role of Government in Business
Finalizing a job and TAxes
Happy Tuesday Have a good writing utensil ready.
This week we are thinking about the joy of being generous
How the Government Raises Money
All About Elections!.
Bellwork Do you behave better for teachers you like or teachers you are afraid of? Why? 2. If you could steal $10 and know for sure you wouldn’t get caught,
Accessing Help in Calgary:
Taxes.
Georgia Studies Unit 4 – Local Governments
Economics.
Citizens Make a Difference
After picking up the Personal Finance: Taxes worksheet from the sub, please answer the first question on the top of the sheet… What is a tax? How many.
Taxes and Social Security
Free Enterprise Own Your Own Business
The Great Depression.
Free Enterprise Own Your Own Business
National, Local, and State Government
Georgia Studies Unit 8 – Local Governments
“In this world, nothing is certain but death and taxes”
The Legislative Branch of Government
Objective 1.1 Purposes of government
The President’s Budget – Budget, Borrow, Spend, Save
Taxes And Spending “In this world, nothing is certain but death and taxes” -Benjamin Franklin.
Context – Domestic Policy & Social Security
Economics Vocabulary.
Branches of Government Levels of Government Who’s The Boss? Who Can
Bellwork Do you behave better for teachers you like or teachers you are afraid of? Why? 2. If you could steal $10 and know for sure you wouldn’t get caught,
Taxes.
Budget: Your money is where your heart is.
Unit 6 – Fiscal Policy and Monetary Policy
Three Different Levels
Important Terms for Life and for Spreadsheets
Unit 1 Governing the People
Georgia Studies Unit 8 – Local Governments
Bellwork Do you behave better for teachers you like or teachers you are afraid of? Why? 2. If you could steal $10 and know for sure you wouldn’t get caught,
Taxes And Spending “In this world, nothing is certain but death and taxes” -Benjamin Franklin.
Taxes.
After picking up the Personal Finance: Taxes worksheet from Mrs
Taxes!!!!.
Measuring economic activity
Taxes.
“You don’t pay taxes–they take taxes.”–Chris Rock
ENGLISH IN USE 15 SHOPPING AND PAYING.
Basic Income & Disability.
Government Study Guide
Presentation transcript:

What are Taxes? (…and Why Do We Have to Pay Them?)

Nobody likes to pay taxes but they are important Nobody likes to pay taxes but they are important. Governments need taxes to survive. And if no one paid taxes, governments would not have any money.

Copyright Right Brain Curriculum Let’s talk a little bit about what taxes are and what governments use tax money for…

Copyright Right Brain Curriculum There are things that everybody in a city or state or country needs but which are too expensive for any one person to build. For instance, we needs roads to drive on and bridges to go across our rivers.

Copyright Right Brain Curriculum We need police officers to keep us safe and fire fighters to be there in case a fire breaks out. We need people to collect the trash and electricity in our homes.

Copyright Right Brain Curriculum So we have a government that hires police officers, buys fire fighting equipment, builds roads, builds schools and hires teachers and does a lot of other things too. The only problem is all of those things are very EXPENSIVE!

Copyright Right Brain Curriculum So where does the government get the money to pay for all the things that it does? From taxes!

Adults have to pay taxes to the government every year. Copyright Right Brain Curriculum Adults have to pay taxes to the government every year.

Copyright Right Brain Curriculum There are many different types of taxes. There is a tax you pay on your income and tax you pay if you own a house. There is a tax on things you buy. This is called a sales tax.

Copyright Right Brain Curriculum For instance, if you bought a hammer for $10, you might have to pay an extra 50 cents in taxes.  You would pay $10.50 to the store and the store would pass on the 50 extra cents to the government.

Copyright Right Brain Curriculum But if you bought a hot tub for $1,000, you might have to pay $50 in sales tax!

Copyright Right Brain Curriculum There is another type of tax called an INCOME TAX. When you make money from your job, you have to pay taxes to the government. For instance, if you made $75,000 dollars for working for the year, you might have to pay $20,000 of it to the government!

Copyright Right Brain Curriculum Candidates running for office as senators, presidents, mayors and other positions tend to argue a lot about taxes. One question they argue about is, who should pay taxes and how much?

Copyright Right Brain Curriculum Generally, rich people have to not only pay more money in taxes, but they to pay a bigger percentage as well.

Copyright Right Brain Curriculum Some people think this is fair because rich people can afford to pay. Other people think it’s not fair because rich people earned that extra money. If you make very little money for the year, you may not have to pay any taxes at all.

Copyright Right Brain Curriculum Every year, each adult sends their tax money to a government group called the Internal Revenue Service or IRS. They have to send it in by April 15th.

Copyright Right Brain Curriculum If you don’t pay your taxes you can be in big trouble with the IRS. You might even go to jail!

Copyright Right Brain Curriculum There is debate about what the government should use the tax money for.

Copyright Right Brain Curriculum There are many questions: Should we spend more or less on paying for people’s health care? Should we spend more or less to build a big army and navy?

Copyright Right Brain Curriculum Should we spend more money to build great schools for kids? Should we spend more to help out poor people or people without homes?

Copyright Right Brain Curriculum Should we spend more for building parks or roads or bridges? What about police officers or fire fighters?

Copyright Right Brain Curriculum We have some important decisions to make about how much we charge in taxes and how much each person has to pay.

Copyright Right Brain Curriculum Remember that if your government doesn’t raise revenue from taxes, it will be hard to build anything.

But if you tax the people too much, they might get angry! Copyright Right Brain Curriculum But if you tax the people too much, they might get angry!