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PLEASE HELP FAST!!!!

DUE TODAY!!!
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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.)"

User Krzakov
by
7.6k points

2 Answers

3 votes

Answer:

Once upon a time, you and your sibling, whose name is Lily, went to your favorite store called Toys Emporium. There, Lily found a toy to buy, called a Lego set. It is labeled $3.99, and so Lily 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. Lily 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. Taxes are money that people have to pay to the government, which uses the money to provide services like education, healthcare, and public safety.”

“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. Taxes support the economy by paying for things like roads, bridges, and public transportation. This helps businesses move goods and people around the country and grow our economy.”

“It doesn’t help me. I shouldn’t have to pay. I’m just a kid.”

You respond, “Even children benefit. When you go to school, you benefit from taxes that pay for your education. Your family benefits when they go to the doctor or hospital and receive healthcare services. Communities benefit from taxes that pay for things like parks, libraries, and community centers.”

“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. A budget is a plan for how you will spend your money. To make one, you need to list all your income and expenses, like allowance, birthday money, and other sources of income. Then, list all your expenses, including the cost of the toy you want. After that, you can balance your budget by making sure your expenses don't exceed your income.”

“Will my budget be anything like the government’s budget?”

You respond, “They have similarities and differences. One similarity is that both budgets require careful planning and management. One difference is that the government has many more sources of income and many more expenses to pay for than an individual, which makes it much more complicated to balance their budget.”

Step-by-step explanation:

User Abuder
by
9.2k points
5 votes

You and your sibling, whose name is (Bryan), go to your favorite store called (Five Below). There, your sibling finds a toy to buy, called a (teddy bear). It is labeled $3.99, and so (Bryan) 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. (Bryan) 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."

“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. (A tax is a mandatory payment or charge collected by local, state, and national governments and it covers the cost of products. In simple terms, it is companies demanding a certain amount from its citizens (us) )"

“It doesn’t help me. I shouldn’t have to pay. I’m just a kid.”

You respond, “Even children benefit. The Child Tax Credit for tax year is $2,000 per child for most kids through age 16. Part of this credit is refundable so eligible families can get it in the form of a refund, even if they owe no federal income tax."

“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. A budget is managing how much money you spend and how you spend it. Save money for the things you really want and don't spend it on cheap products. For example, I saved up money for a new phone."

“Will my budget be anything like the government’s budget?”

You respond, “They have similarities and differences. Both individual and government makes budget · They both involve future projection. National budget is usually very huge, and personal budget is not as huge as national budget.

That took a little while but I think I did it correct :)

User Jaquay
by
8.2k points