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Explore the relationship between taxes and benefits, ability to pay, and income levels. Understand progressive, regressive, and proportional taxes and how they affect spending choices. Analyze the impact of sales tax on different income groups.
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Economics 9-1 The Economics of Taxation Pages 223-229
Economics 9-1The Economics of Taxation Pages 223-229 • ESSENTIAL QUESTION: • Why should people pay taxes in proportion to the benefit that they receive? • Why should people be taxed based on their ability to pay taxes? • How do the three types of taxes affect people with different income levels?
The Economics of TaxationPages 223-229 GPS STANDARDS: SSEPF3- Explain how changes in government monetary and fiscal policy can have an impact on an individual’s spending and saving choices. b.) Define ( and explain the impact) of progressive, regressive, and proportional taxes c.) Explain how an increase in sales tax affects different income groups
Figure 9.3 The Economics of TaxationPages 223-229