Don’t Mess with Taxes!

Like this? Share with your STEAM friends...

What are taxes?

Taxes are money that people are required to pay to their local, state and federal governments.

Why do we have taxes?

Every service that the government provides us citizens is paid for by taxes. Without taxes, we wouldn’t have public schools, public parks to play in, paved roads, and public buses.

What do our taxes pay for?

Federal Budget allocations
Image source – CBPP.org

Federal taxes pay for

  • Public health programs, like Medicare, Medicaid and Children’s Health Insurance Program (CHIP)
  • Social security – to provides retirement benefits and disability payments to our senior and disabled citizens.
  • Defense and security – our country’s military expenses, Department of Defense, and Homeland Security.
  • Anti-poverty or safety net programs – unemployment insurance, food assistance, low-income housing assistance, supplemental income, foster care and adoption programs.
  • Interest on the national debt
  • Other federal expenses, like scientific and medical research, transportation and infrastructure spending, education, etc.

While every state decides on its own priorities, state taxes usually pay for –

  • Education programs, like public schools, community colleges and university systems.
  • Public health programs, like Medicaid and Children’s Health Insurance Program (CHIP) – these are jointly funded by federal and state governments.
  • Justice programs, like state prisons.
  • Other programs, like state infrastructure (roads, bridges), public transport, low income assistance, hospitals and parks and recreations.

 


Like this? Share with your STEAM friends...
Previous articleThe Many Facets of Architecture
Next articleThe Characteristics of Living Things
As a 7th grader, Divya has a million ideas running through her head at any single moment. She's a creative force, and is the official design guru for STEAMism.com, designing the infographics and digital art you see on the website. She loves reading, has been a blogger and prolific writer since Kindergarten and is an expert on Greek Mythology. She's also learning the art of video and audio design and editing. Checkout her STEAMism videos on YouTube!

LEAVE A REPLY

Please enter your comment!
Please enter your name here