In this worksheet, students will learn about the concept of progressive taxation by calculating the total tax to be paid by different individuals based on their taxable income. The activity will provide students with progressive tax brackets and guided questions to help them determine the total tax liability for each individual.
Additionally, students will calculate the tax percentage paid by each individual, gaining an understanding of how lower-income individuals pay a lower percentage of tax compared to higher-income individuals.
Activities:
This worksheet is designed to enhance students' financial literacy and understanding of the tax system, providing them with practical knowledge to navigate and comprehend progressive taxation.