Tax Quiz #1
What is one example of "mandatory" spending? What is one example of "discretionary" spending?
An example of "mandatory" spending is medicare. An example of "discretionary" spending is the military.
What's one category you wish more taxes were spent on? Why?
I think more money should be put towards unemployment and labor. I feel this way as the United States has some of the highest unemployment rates in the world. This way I feel people could be motivated to put themselves out there and fill jobs.
What's one category you wish fewer taxes were spent on? Why?
I wish fewer taxes were spent on health. Although health is an essential part of everyone's life, I feel their are more significant aspects of society that need to be addressed such as the Federal Debt or Veteran's Benefits.
What is one benefit that you or someone you know receives as a result of government spending?
One benefit of the government for someone who needs it is disability insurance.
Why does the government need taxes?
Taxes make up the government income thus without them the government could not provide services people want and/or need.
Distinguish between net pay and gross pay.
Gross pay is the original amount of money one makes before any deductions. Net pay is the amount of money you take home after deductions.
What do you think are the top three categories the government spends our tax dollars on?
Health, military, and social security
Identify two deductions you will see on your pay stub.
Two deductions you will see are social security and medicare.
In your own words, explain why we pay taxes.
We must pay taxes because that is the government's form of income. Without taxes, the government would not be able to provide American citizens with the things they want/need.
