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Understanding Taxes Government Spending and Pay St

Explored government spending in 2021, guessing top expenses like healthcare, insurance, and education. Reflected on why these priorities make sense given the population's needs and challenges in personal financial management.

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    Math 4 Unit 1 Day 1- Taxes and Your Pay Stub Warm Up: What were the top 5 expenses the government paid for with our tax dollars In 2021? If you don t know- make some educated guesses! -Health care -Insurance -Taxes -Rent/pro petty expenses -Education Follow Up Questions to Warm Up: 1. Are you surprised by the top 3 categories the Federal government spends taxpayer money on? Explain. Not, really since most of the U.S the entire population of people are made of people who don't manage their money properly. So most of the U.S spends their money on needs like healthcare, I was surprised to see how u n e m p l o y m e n t and labor was spent, but at the same time not really since we have a high level of u n e m p l o y m e n t . The last category wasn't much of a shock since we ve spent a lot on weapons and aiding countries. 2. How would you adjust the spending allocation across these categories I if at all)? Why? Have a budget that can be adjusted when needed. 3. W hat to p th ree He ms do you t hin k t he go ve rn ment w ilI s pen d tax dol la rs on in te n yea rs? How m uch par item? Why? Climate change about a few billion dollars a year National debt trillions a year Education If Paychecks Could Talk 1. What does FICA consist of? a. Health Insurance b. Social Security & Medicare c. Federal £ State Taxes d. E m p loye r S pons red R etire ment 2. W hat are 2 exa m p les of disc retio na ry spe ndln g? a. Social Security b. Education c. Military d. Medicare 3. All of the following options are benefits we receive as a result of government spending EXCEPT... a. Air quality b. Credit card debt forgive ne ss

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