Question

6.05 Story Frame Template

Directions: To use this template, replace the items in (parentheses) with your own writing as instructed.
You and your sibling, whose name is (name), go to your favorite store called (store name). There, your sibling finds a toy to buy, called a (name a small toy). It is labeled $3.99, and so (sibling name) brings it to the cashier. The cashier says, “That will be $4.27.” Your sibling removes four one-dollar bills from a pocket and then, finding no more money, starts to cry. (Sibling's name) turns to you and begins asking questions as you walk away from the counter.
“Why was the label wrong? It said $3.99!”
You respond, “It rang up as $4.27 because of tax. (Write two sentences to explain what taxes are.)"

“Why do we pay taxes? It seems so unfair! Now I can’t have my toy!”
You respond, “We pay them because they help our economy. (Write two sentences to explain how taxes support the economy.)"

“It doesn’t help me. I shouldn’t have to pay. I’m just a kid.”
You respond, “Even children benefit. (Write at least three sentences to give specific examples of how youth, families, and communities benefit from taxes.)"

“How was I supposed to know all this? I don’t have 27 cents. What do I do now?”
You respond, “What you should do is create your own budget. (Write in complete sentences to explain what a budget is, how to make one, and how to balance it.)"

“Will my budget be anything like the government’s budget?”
You respond, “They have similarities and differences. (Write two sentences to describe one similarity and one difference between personal and national budgets.)"

Answer 1

Taxes are fees paid to the government to fund public services. They support the economy, benefit children, families, and communities, and individuals can create their own budget. Personal and national budgets have similarities and differences.

Step-by-step explanation:

What taxes are:

Taxes are fees that individuals and businesses are required to pay to the government. They are used to fund public services and programs such as schools, roads, police and fire departments, and healthcare.

How taxes support the economy:

Taxes play a vital role in supporting the economy by providing the government with the necessary funds to invest in infrastructure, education, and social welfare programs. These investments create jobs, stimulate economic growth, and improve the overall quality of life for citizens.

Benefits of taxes for children, families, and communities:

Taxes benefit children by providing funding for education and child welfare programs. Families benefit from taxes through services such as healthcare, childcare subsidies, and social assistance programs. Communities benefit from taxes by having access to public infrastructure, parks and recreation facilities, and public safety services.

What a budget is and how to create one:

A budget is a financial plan that outlines income and expenses. To create a budget, you need to identify your sources of income and list all your expenses. Then, allocate your income to cover your expenses, making sure to prioritize essential needs and savings.

Similarities and differences between personal and national budgets:

One similarity between personal and national budgets is the need to balance income and expenses. However, a major difference is that national budgets involve much larger sums of money and have a broader scope, encompassing the needs and priorities of an entire country.