Tax Brackets

Tax Brackets

Video

Why do people pay different amounts of income tax?

• The tax system is REDISTRIBUTIVE: meaning some money from the top earners gets redistributed to the lower earners in the form of social programs (Medicaid, SNAP, housing assistance, etc)

• Other taxes go to education, infrastructure, military/defense, etc

Where do federal income taxes go?

Where do state taxes go?

Tax Brackets

Calculating Percent

• Turn the percent into a decimal, then multiply that by the whole

• For example: 15% in decimal form is 0.15

• 15% of 200 is 200 x 0.15 = 30

Multiple Choice

What is 25% in decimal form?

• 25.0

• 2.5

• 0.25

• 0.025

Multiple Choice

What is 11% in decimal form?

• 11.0

• 1.1

• 0.11

• 0.011

Worksheet on Classkick

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