You and your sibling, whose name is ______ , go to your favorite store called Walmart. . There, ______. finds a toy to buy, called a nerf gun . He really wants this toy. The toy is labeled $3.99, and so he 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 turns to you and begins asking questions as you walk away from the counter.
“Why was the label wrong? It said $3.99!”
You respond, “It rang up as $4.19 because of taxes . This is extra money business have to charge because the government saves the money in a piggy bank like we do, just in case something brakes, they can take money out of the bank to fix it. Things like roads and buildings. . We pay other types of taxes to the government such as federal state and local taxes
“Why do we pay them? It seems so unfair! Now I can’t have my toy!”
You respond, “We pay them because it’s the law Governments at each level provide us with different things such as roads, food for us to but It helps the economy because where would the government get their money, so they can buy things for us to buy
“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 getting free vaccines. A way that our family benefits is how we get to pay only less after being hospitalized. A way that our community benefits is how we get new school buildings.
“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 how you plan to spend your money. It lists all your income and expenses. When you subtract expenses from income
. what is left can be spent how you please , on things you don’t really need or it could be an emergency fund. The reason having a budget is bad is because you can’t spend all of your money that you would like to.
“Will my budget be anything like the government’s budget?”
You respond, “They have similarities and differences. Some similarities include paying for transportation. Some differences include the governments highest priority is social security, while personal budgets do not include that.
( hope this helps!!! the stuff in bold is what gose in the blanks. <3