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B. Tax Organizer. Use what you learned in the reading to complete this graphic organizer. TAXES YOU PAY...

B. Tax Organizer. Use what you learned in the reading to complete this graphic organizer.
TAXES YOU PAY
WHEN YOU BUY STUFF
A percentage of the total price for everything in your shopping cart.
Added to the price of certain items such as ________.
Added to the price of many goods made in other ________.
OUT OF YOUR INCOME
A percentage of the total amount of income you have for the ________.
Used to fund a program for U.S. workers.
Used to fund a health care program for people age ________ and over.
ON STUFF YOU OWN
A tax on the value of land and property you own.
A tax on what you own when you die, if it is worth a very high amount.

Answer

WHEN YOU BUY STUFF

  1. A percentage of the total price for everything in your shopping cart is typically known as sales tax.
  2. Added to the price of certain items such as alcohol and tobacco is known as excise tax.
  3. Added to the price of many goods made in other countries is known as a tariff.

OUT OF YOUR INCOME

  1. A percentage of the total amount of income you have for the year is known as income tax.
  2. Used to fund a program for U.S. workers is known as Social Security tax.
  3. Used to fund a health care program for people age 65 and over is known as Medicare tax.

ON STUFF YOU OWN

  1. A tax on the value of land and property you own is known as property tax.
  2. A tax on what you own when you die, if it is worth a very high amount, is known as estate tax.

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