Standard 2: Taxes

Identify and explain types of taxes (e.g., personal income, sales, and property taxes) and explain the reasons for taxation at the local, state, and federal levels (e.g., roads, water/sanitation services, social services, schools, and law enforcement).
Explain how taxes, employee benefits, and payroll deductions affect income.
Explain the importance of meeting tax obligations and describe possible consequences of failing to meet those obligations (e.g., fees, penalties, interest, garnishment of wages, and imprisonment).
Explain the societal importance for meeting tax obligations (e.g., market economy and capitalism: poverty, pollution, medical research, government assistance programs, education, and government funded services and projects).

Teaching Resources

Oklahoma State Department of Education: Making $en$e: Financial Success Curriculum | view now

Lessons, Activities, Calculators and Video Resources: