{"id":13279,"date":"2016-12-12T20:50:47","date_gmt":"2016-12-13T01:50:47","guid":{"rendered":"http:\/\/iblog.dearbornschools.org\/farhoud\/?p=13279"},"modified":"2016-12-12T20:54:53","modified_gmt":"2016-12-13T01:54:53","slug":"personal-finance-12132016","status":"publish","type":"post","link":"https:\/\/iblog.dearbornschools.org\/farhoud\/2016\/12\/12\/personal-finance-12132016\/","title":{"rendered":"Personal Finance  &#8211; 12\/13\/2016"},"content":{"rendered":"<p><strong> I.\u00a0 Bellwork:<\/strong><\/p>\n<p>A.\u00a0 <a href=\"https:\/\/www.taxadmin.org\/sales-tax-holidays\"><strong>Tax holidays Link<\/strong><\/a><\/p>\n<p style=\"padding-left: 30px;\">1) In what month do most states offer Sales Tax Holidays?<\/p>\n<p style=\"padding-left: 30px;\">2) According to the lists, What 4 items are often most\u00a0 included in the tax holidays?<\/p>\n<p>II.\u00a0 <strong>Objective:<\/strong><\/p>\n<ul>\n<li>Given various scenarios distinguish between progressive, regressive, and proportional taxes<\/li>\n<li>Identify and classify taxes as progressive, regressive, and proportional according to the methods implemented to generate revenue.<\/li>\n<li>Analyze and discuss the merits of various methods in which governments generate revenue on consumption, income and wealth.<\/li>\n<\/ul>\n<p><strong>III.\u00a0 Discussion<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/www.tax-rates.org\/michigan\/excise-tax\">Michigan Excise Taxes<\/a><\/li>\n<li><a href=\"https:\/\/www.salestaxinstitute.com\/resources\/sales-tax-holidays\">States with Tax Holidays<\/a><\/li>\n<\/ul>\n<p><a href=\"https:\/\/apps.irs.gov\/app\/understandingTaxes\/whys\/thm03\/les03\/ac1_thm03_les03.jsp\">Activity 1: Progressive Taxes and You<\/a>\u00a0 Show what percentage of each person&#8217;s income would go towards tax in a progressive system by completing pie graphs.<\/p>\n<p><a href=\"https:\/\/apps.irs.gov\/app\/understandingTaxes\/whys\/thm03\/les02\/ac1_thm03_les02.jsp\">Activity 1: Regressive Taxes and You <\/a>\u00a0\u00a0Show how a $2,000 tax affects the incomes of five citizens.<\/p>\n<p><a href=\"https:\/\/apps.irs.gov\/app\/understandingTaxes\/whys\/thm03\/les04\/ac1_thm03_les04.jsp\">Activity 1: Proportional Taxes and You<\/a> Find out how income is affected in a proportional tax system<\/p>\n<p>IV.\u00a0 <strong>Classwork<\/strong><\/p>\n<p>A.\u00a0 <a href=\"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-content\/uploads\/sites\/151\/2015\/12\/progressive-regressive-and-proportional.xlsx\">progressive regressive and proportional<\/a><\/p>\n<p>B.\u00a0 <strong>P. 136 Definitions (8)<\/strong><\/p>\n<p><strong> C.\u00a0 Questions<\/strong><\/p>\n<ol>\n<li><strong>What is the largest source of government income?<\/strong><\/li>\n<li><strong>Explain the ability-to-pay principle.<\/strong><\/li>\n<li><strong>Identify the 3 types of taxes.<\/strong><\/li>\n<li><strong>Provide an example for each type of tax.<\/strong><\/li>\n<li><strong>What are the main functions of the IRS?<\/strong><\/li>\n<li><strong>Who has the power to levy taxes?<\/strong><\/li>\n<li><strong>What are the penalties associated with failure to pay income taxes?<\/strong><\/li>\n<\/ol>\n<p><strong> D.\u00a0 Tax Review on iLearn<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I.\u00a0 Bellwork: A.\u00a0 Tax holidays Link 1) In what month do most states offer Sales Tax Holidays? 2) According to the lists, What 4 items are often most\u00a0 included in the tax holidays? II.\u00a0 Objective: Given various scenarios distinguish between progressive, regressive, and proportional taxes Identify and classify taxes as progressive, regressive, and proportional according [&hellip;]<\/p>\n","protected":false},"author":176,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[80],"tags":[],"class_list":["post-13279","post","type-post","status-publish","format-standard","hentry","category-personal-finance-f2016"],"_links":{"self":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/13279","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/comments?post=13279"}],"version-history":[{"count":0,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/posts\/13279\/revisions"}],"wp:attachment":[{"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/media?parent=13279"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/categories?post=13279"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/iblog.dearbornschools.org\/farhoud\/wp-json\/wp\/v2\/tags?post=13279"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}