Taxes 101
What is the main reason citizens pay taxes to the government?
What is to fund programs and services provided by local, state, and federal governments?
What is the rate you see taken out of your paycheck for Medicare?
What is 1.45%?
What organization sets monetary policy for the U.S.?
What is the Federal Reserve?
What organization provides similar insurance for credit unions?
What is the National Credit Union Administration?
Which of these is not a typical time you’re taxed: when you earn, spend, or donate?
What is Donate?
What is the rate you see taken out of your paycheck for Social Security?
What is 6.2%?
True or False: The Federal Reserve sets national interest rates.
What is True?
What does the FDIC protect?
What is your savings in banks?
When people buy cigarettes or alcohol, they pay a special kind of tax. What’s it commonly called?
What is a sin tax? (Single Points)
What is an excise tax? (Double Points)
What form tells your employer how much tax to withhold from your paycheck?
What is a W-4?
How many regional Federal Reserve Banks exist across the country?
What is 12?
How much money is insured per account by the FDIC or NCUA to date?
What is up to $250,000?
What is your “withholding” section of a paystub?
When you get a paycheck, which part shows money taken out for taxes?
Which is the major benefit of online banking?
What is convenience?
he Federal Reserve helps control inflation by adjusting what financial factor?
What are interest rates?
What is one major difference between banks and credit unions?
What is banks are for-profit and credit unions are member-owned nonprofits?
What is a progressive tax system?
The more money someone earns, the higher the percentage of income they pay.
Social Security takes money from your paycheck now — what does it do with that money?
What is it’s used to support current retirees and will help fund your future benefits?
Who appoints the Chairperson of the Federal Reserve?
Who is the United States President?
What was the main threat to banks that the FDIC was founded to protect?
What are run on banks?