Taxes, Taxes, Taxes

Paycheck Page 1: What is the gross pay on the check? (Hours x Payrate) =

• $3000

• $1834

• $2435

• $4000

Which is the BIGGEST tax that is taken out of your paycheck?

• State Income Tax

• Federal Income Tax

• Social Security Tax

• Health Insurance

How much total money is taken out of this paycheck for taxes and other deductions?

• 75% of this paycheck is gone.

• Little more than 1/3 of paycheck is gone.

• About 5% of the paycheck is gone.

• Almost all of it.

What is the 'net pay' of the paycheck? (what you are left with after taxes)

• $3,000

• $1,834

• $349

• $2134

How much money did this person choose to go towards their retirement every paycheck?

• $149

• All of the paycheck.

• $150

• $200

Page 2: Tax brackets. If you make very, very little, what % does the government take for taxes?

• 10%

• 15%

• 28%

• 39%

If you are really rich and make more than $500,000 a year, what percentage of that money goes to the government?

• 39%

• 35%

• 53%

• 15%

Which is true?

• The less you make, the more you get taxed.

• The more you make, the higher percentage tax is taken out.

• The more you make the lower you get taxed.

• If you are cool, you don't get taxed at all.

If you are a 'single filer' and get taxed 25%, how much money do you make?

• Up to $9,275

• $91,000- $190,000

• $37,000-$91,000

• $Over $450,000

If you are 'head of household' and make $300,000 exactly, what percentage of that does the government take?

• 33%

• 10%

• 20%

• 39%