News Herald – Juliann Talkington
Regardless of whether you believe taxes are crucial and helpful or unnecessary and unfair, it is important that your kids understand the concept of taxation, how tax money is collected and used, and what they can do to influence tax policy.
Here are a few kid friendly facts you can share with your children.
There are a lot of taxes in the U.S.
Individuals are taxed on property, purchases, income, wages, facilities use (tolls), and dying (death tax). Companies pay duties, tariffs, fees, registrations, and employment taxes. They pass these extra costs onto consumers as higher prices, which means individuals ultimately pay for business taxes.
U.S. taxpayers have little say on how tax money is spent.
Once the taxes are collected by a taxing agency, taxpayers have little control on how the money is allocated. As a result, it is critical that voters consider all tax referenda carefully. If a taxpayer does not like a tax he/she can circulate a petition to have the tax recalled, run for office, and/or work to get different politicians elected.
Taxes increase the power of the government.
Tax revenues give government entities control over large budgets, which can create problems with corruption as companies and individuals lobby to obtain projects bid by the government.
Taxes fund a wide variety of programs.
Taxes are used to pay for everything from roads and bridges to special projects like studying methane emission from dairy cows.
Private sector worker taxes pay for government jobs.
When someone works for a public school, a public college or university, the TSA, the military, a company who executes government contracts, an organization that receives government grants etc. his/her salary is paid by people working in the private sector. Even though government employees pay “taxes”, these “taxes” just reduce the cost of that worker, since the taxes go back into the pool of money used to pay government salaries. As a result, it is impossible for the government to operate without loans or tax contributions from private sector workers.
Tax marketing is often different from tax implementation.
Taxpayers are often more willing to approve taxes for education, so government agencies will sometimes market a tax as a way to improve schools without restricting the money to schooling.
Once your kids have an understanding of taxation they can make sound economic decisions for themselves and help their communities make wise choices about taxes and community services.
The Simple Dollar – Kristin Kuchar
“One great way to reduce your student loan debt while you’re still in school is to keep to a budget. And one of the best ways to have some fun while sticking to that budget is to take advantage of student discounts. Here are dozens of discounts available to students across the country.”(more)
The Sacramento Bee – Carolyn Wilke
“While school bullying has been widely condemned for harming students’ emotional health, a new study calculates the financial cost to school districts: $276 million annually in California. The study published in June in School Psychology Quarterly is the first to count the direct losses caused by bullying-related student absences. “If we think about the climate of bullying in schools, we actually see differences in overall achievement,” said Stephen Russell, a professor of child development at the University of Texas, Austin, and one of the study’s authors.”(more)
Inside Higher Ed – Karl Eikenberry
“When I was a student in Nanjing University in China in the early 1980s, a professor there told me that if I spoke no Chinese at all, I would always be a metaphorical window shopper in his city, admiring the goods on display from a distance on the street. But after investing the time and effort to become proficient at Mandarin and knowledgeable of Chinese custom, I would be invited by the shop owner to come inside and enter the room where his real treasures were kept. I have had many occasions since then to reflect on the wisdom of my professor’s advice and encouragement. As the deputy commander of the UN security force in Panmunjom in Korea, defense attaché to China, commander of coalition forces in Afghanistan and the United States ambassador in Kabul, I have found myself at the intersection of cultures and languages — often when the stakes were much higher than a mere trip to the local shop. Yet the lesson has withstood the test of time and experience: a working knowledge of another culture, its language and norms, its history and ideals, is often the difference between a failed and a successful mission.”(more)
USA Today – Teddy Nykiel
“College prepares students to be everything from accountants and teachers to government workers and health care technicians, but not all students learn basic money management skills. Here’s advice for this year’s graduates on how to succeed financially.”(more)
Medical X-Press – Staff Writer
“The best culinary paths to better health are not always paved with cash, new research shows, and cooking at home can provide the best bang-for-the-buck nutritionally as well as financially. A study by Arpita Tiwari, a health systems researcher at Oregon State University, and collaborators at the University of Washington confirms what many mothers and grandmothers have said for decades: that habitually eating dinner at home means a better diet and lower food expenditures compared with regularly dining out.”(more)