Social Studies, 08.05.2021 17:30, myahlit84

Federal Taxes 1. What are some steps that a person can take to reduce his/her taxable income?

2. What is the main purpose of paying FICA taxes such as Social Security and Medicare?

3. OPINION: Do you think it’s ‘fair’ that people in the US pay out unemployment taxes? How does this relate to the idea of economic equity?

4. Based on the graph above, how would a contraction in the business cycle affect the percentages expressed above?

5. Why does the government collect taxes on the “pay as you earn” system?

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Federal Taxes 1. What are some steps that a person can take to reduce his/her taxable income?

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