Directions: To use this template, replace the items in (parentheses) with your own writing as instructed.
You and your sibling, whose name is alex, go to your favorite store called target. There, your sibling finds a toy to buy, called a hot wheels. It is labeled $3.99, and so alex 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. Alex 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.)"