Top 3 expenses from U.S. tax dollars

It’s important to first understand how much a common starting salary pays in taxes. But then where does it go?

Answer: Health (Health + Medicare) first at 27.6%, National Defense second at 19.5%, and Social Security third at 14.2%

Questions:

• Are you surprised by the top 3 categories the Federal government spends taxpayer money on? Explain.
• How would you adjust the spending allocation across these categories (if at all)? Why?
• What top three items do you think the government will spend tax dollars on in ten years? Why?

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.

 

Behind the numbers (USA Spending):

 

 

———————–

Taxes on the mind? Check out NGPF’s Taxes blog which is full of ideas to engage your students!

———————–

Want to attend NGPF Professional Developments and earn Academy Credits on your own time? Check out NGPF On-Demand modules!

About
the Author

Dave Martin

Dave joins NGPF with 15 years of teaching experience in math and computer science. After joining the New York City Teaching Fellows program and earning a Master’s degree in Education from Pace University, his teaching career has taken him to New York, New Jersey and a summer in the north of Ghana. Dave firmly believes that financial literacy is vital to creating well-rounded students that are prepared for a complex and highly competitive world. During what free time two young daughters will allow, Dave enjoys video games, Dungeons & Dragons, cooking, gardening, and taking naps.

More posts
by Dave