Story Frame Template
You and your sibling, whose name is _________________________, go to your favorite store called _________________________. There, _________________________ finds a toy to buy, called a _________________________. (He or She) really wants this toy. The toy is labeled $3.99, and so (he or she) brings it to the cashier. The cashier tells your sibling, “That will be $4.19.” Your sibling removes four dollar bills from a pocket and then, finding no more money, starts to cry. (He or She) turns to you and begins asking questions as you as you walk away from the counter.
“Why was the label wrong? It said $3.99!”
Your respond, “It rang up as $4.19 because of _________________________. These are _________________________. We pay other types of _________________________ to government such as _________________________.
“Why do we pay them? It seems so unfair! Now I can’t have my toy!”
You respond, “We pay them because _________________________. Governments at each level provide _________________________ such as ______________________. It helps the economy because _________________________.
“It doesn’t help me. I shouldn’t have to pay. I’m just a kid.”
You respond, “Even kids benefit. One specific example is _________________________. A way that our family benefits is how _________________________. A way that our community benefits is how _________________________.
“How was I supposed to know all this? I don’t have 19 cents. What do I do now?”
You respond, “What you should do is create your own budget. A budget is _________________________. It lists all your _________________________ and _________________________. When you subtract _________________________ from _________________________, what is left can be a _________________________, _________________________, or it could be _________________________. The reason having a _________________________ is bad is because _________________________.
“Will my budget be anything like the government’s budget?”
You respond, “They have similarities and differences. Some similarities include _________________________. Some differences include _________________________.
plz help
I would be able to check answers for you, but you have to fill out the blanks yourself.
Yes, we'd be glad to check your answers, but we have to see what they are first.
taxes
Introduction:
You and your sibling, whose name is ____, go to your favorite store called ____. There, your sibling finds a toy to buy, called a ____. They really want this toy. The toy is labeled $3.99, and so they bring it to the cashier. The cashier tells your sibling, “That will be $4.19.” Your sibling removes four dollar bills from a pocket and then, finding no more money, starts to cry. They turn to you and begin asking questions as you as you walk away from the counter.
Question 1: “Why was the label wrong? It said $3.99!”
Response: “It rang up as $4.19 because of _____. These are _____. We pay other types of taxes to the government such as _____.
Explanation: The toy was labeled as $3.99, but it rang up as $4.19 because of taxes. Taxes are additional charges imposed by the government on goods and services. They help the government generate revenue for various purposes. In addition to sales tax, there are other types of taxes such as income tax, property tax, and so on. These taxes are used by the government to fund public services, infrastructure, and other essential functions.
Question 2: “Why do we pay them? It seems so unfair! Now I can’t have my toy!”
Response: “We pay them because _____. Governments at each level provide _____. It helps the economy because _____.
Explanation: We pay taxes because they are necessary for the functioning of the government and to provide essential services to the public. Governments at different levels, such as local, state, and federal, use tax revenue to fund infrastructure projects, education, healthcare, public safety, and other services that benefit society as a whole. This helps the economy by creating jobs, maintaining social stability, and enabling economic growth.
Question 3: “It doesn’t help me. I shouldn’t have to pay. I’m just a kid.”
Response: “Even kids benefit. One specific example is _____. A way that our family benefits is how _____. A way that our community benefits is how _____.
Explanation: Even though you are a kid, you still benefit from the services provided by the government. For example, one specific benefit is education. The government allocates tax revenue to provide quality education for children, including schools, teachers, and educational resources. This benefits your family by giving you access to knowledge and skills that will be valuable in the future. Additionally, taxes contribute to the overall well-being of the community by supporting public infrastructure, public transportation, parks, and recreational facilities, which are used by people of all ages.
Question 4: “How was I supposed to know all this? I don’t have 19 cents. What do I do now?”
Response: “What you should do is create your own budget. A budget is _____. It lists all your _____. When you subtract _____ from _____, what is left can be a _____. The reason having a _____ is bad is because _____.
Explanation: To manage your money effectively, it's important to create a budget. A budget is a plan that lists all your income and expenses. You need to track how much money you have and how you plan to spend it. When you subtract your expenses from your income, what is left can be saved, used for other purchases, or it could be a deficit if your expenses exceed your income. Having a deficit is not ideal because it means you are spending more than you are earning, which can lead to financial difficulties.
Question 5: “Will my budget be anything like the government’s budget?”
Response: “They have similarities and differences. Some similarities include _____. Some differences include _____.
Explanation: While there are similarities between personal budgets and the government's budget, there are also differences. Some similarities include the need to allocate resources wisely, prioritize spending, and balance income and expenses. Both budgets aim to manage money effectively. However, some differences exist, such as the scale and complexity of government budgets compared to personal budgets. Government budgets involve larger sums of money, cover a wide range of public services, and are influenced by various stakeholders, including policymakers and taxpayers.