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InstructorJennifer LoweryShow bio
Jennifer has taught elementary levels K-3 and has master's degrees in elementary education and curriculum/instruction and educational leadership.
Everyone pays taxes to the government to pay for important services. Explore the types of taxes, such as income, property, and sales tax, and discover how the government uses tax revenue.
Table of Contents
- What Are Taxes?
- Federal and State Tax
- Other Taxes
- How Are Taxes Used?
- Lesson Summary
Have you ever wondered how schools and parks are built? Or who is in charge of paying for and maintaining roads? In short, you are! That is, if you are old enough to pay taxes. Taxes are ways that the government can collect money from its citizens to pay for things that the people need, like schools and roads.
The use of taxes has been around for centuries, dating back to the first human civilizations. In ancient Mesopotamia, taxes were paid in the form of animals or goods since formal money had not yet been invented. Over the years, different forms of money were invented, and the collection of taxes continued. Today, taxes are collected in different ways and at various levels of government. Let's find out more about the collection and purpose of taxes.
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Let's say that you just got an awesome job working at a video game store. You know that you are making $10 an hour, and you are working ten hours a week after school. Because you're an ace in math class, you know that 10 x 10 is 100. So, your first paycheck should be $100, right? Unfortunately, you won't actually bring home $100 because the federal and state governments collect taxes from your income or the amount of money you earn.
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So, you have a great job, and once you're old enough, you would like to buy a car or a house. Guess what? You are required to pay taxes on things like cars and houses as well. This type of tax is called property tax, and it is often paid to local governments, like the county of the state where you reside. Once you own a home, every year you are required to pay property tax on that home until you sell it.
Another way that states and local governments collect taxes is through sales tax. This means that when you go to buy an item in a store or online, an extra charge is added in the form of a tax. Groups of items are taxed at different rates, and this money goes back to the state and local government.
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It may seem like there are a lot of taxes, but consider for a moment all of the public things that taxes pay for. What about the school that you attend? All of the textbooks, desks, and even the building itself are paid for by taxes. And your favorite teacher? They get paid each month by tax money. Taxes also pay for roads and bridges to be built and maintained, for police officers to protect neighborhoods, and for some parks and museums.
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Taxes are ways that the government can collect money from its citizens to pay for things that the people need. The concept has been around for centuries. There are different types of taxes, including federal and state taxes on a person's income, the amount of money earned at a job. There are local taxes, like property tax, a tax for things like cars and land. Sales tax is an extra charge added when you buy an item in a store or online.
Citizens are required to pay taxes to different levels of government, and these taxes are used to pay for a variety of necessary things, like education and public parks.
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Resources created by teachers for teachers
Over 30,000 video lessons& teaching resources‐allin one place.
Video lessons
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I would definitely recommend Study.com to my colleagues. It’s like a teacher waved a magic wand and did the work for me. I feel like it’s a lifeline.
Jennifer B.
Teacher
Try it now
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