Navigating U.S. Taxes for Kids

What is the primary purpose of taxes according to the video?

• To increase the wealth of politicians

• To pay for government services and programs

• To cover international debts

• To fund private enterprises

Which tax is deducted from most U.S. citizens' paychecks?

• Sales tax

• Gift tax

• Property tax

• Federal income tax

What type of tax is charged on profits from selling assets like real estate?

• Sales tax

• Excise tax

• Income tax

• Capital gains tax

Which states do not charge a sales tax?

• Only California and Texas

• All states charge sales tax

• Five states including Oregon and Delaware

• None, all states have sales tax

What is the highest state income tax rate mentioned in the video?

• More than 13% in California

• 8% in New York

• 6% in Florida

• 10% in Texas

What is the main source of local government revenue mentioned in the video?

• Sales taxes

• Property taxes

• Gift taxes

• Corporate taxes

Which tax applies to overnight stays in hotels and inns?

• Property tax

• Lodging tax

• Sales tax

• Income tax

What unique tax does Kansas have?

• Tax on blueberries

• Tax on hot air balloons if tethered

• Tax on uncut bagels

• Tax on belt buckles

Which state exempts citizens over 100 years old from state taxes?

• California

• Texas

• New York

• New Mexico

What happens to the tax on a bagel in New York if it is cut?

• There is no tax

• The bagel is taxed

• The tax is reduced

• The tax is doubled