Learning Objectives
Students will be able to...
- Identify the government’s sources of tax revenue
- Explain that government uses tax money to provide certain goods and services.
- Explain how federal, state, and local taxes support the economy as a function of the U.S. government.
- Describe the impact of taxation.
- Analyze a pay stub.
- Calculate sales tax and compare the effect of different tax rates on total price paid.
Overview
This lesson teaches the basics of taxes: what they are, who pays them, what kinds exist, and what they’re used for. Students learn how people’s income is taxed, how much revenue taxes generate, and how taxes and government services are related. Activities based on real life show students how to analyze a pay stub and how to calculate sales tax.