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The Public Purse

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Lesson Plan

The Public Purse

Students will be able to identify the primary sources of government revenue, explain how government funds are allocated, and analyze the impact of fiscal policy on the economy.

Understanding how government collects and spends money is crucial for informed citizenship. This lesson empowers students to comprehend complex economic decisions and their real-world implications.

Audience

10th Grade Students

Time

60 minutes

Approach

Through slides, a budget activity, and a reflection, students will explore fiscal policy.

Materials

Whiteboard or projector, Taxes, Budgets, and You, Budget Breakdown Challenge, and Taxpayer's Thought Bubble

Prep

Teacher Preparation

15 minutes

Step 1

Introduction: The Government's Allowance

5 minutes

  • Begin by asking students: 'Where does the government get its money, and how does it decide what to spend it on?'
    - Introduce the lesson objectives and the concept of fiscal policy. Use the first few slides of Taxes, Budgets, and You to set the stage.

Step 2

Exploring Revenue and Spending

20 minutes

  • Present the Taxes, Budgets, and You, focusing on slides that explain different types of taxes (income, sales, property) and major areas of government spending (education, defense, healthcare).
    - Encourage questions and facilitate brief discussions about each revenue source and spending category.

Step 3

Activity: Budget Breakdown Challenge

25 minutes

  • Distribute the Budget Breakdown Challenge.
    - Explain that students will work individually or in small groups to allocate a hypothetical government budget across various sectors.
    - Circulate to assist students and encourage critical thinking about their spending priorities. Discuss the rationale behind their choices.

Step 4

Wrap-up and Reflection

10 minutes

  • Bring the class back together.
    - Distribute the Taxpayer's Thought Bubble.
    - Ask students to complete the cool-down, reflecting on what they learned and how government spending impacts their lives.
    - Collect the cool-down slips as an exit ticket.
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Slide Deck

Money & Government: The Public Purse

How does the government pay for things like roads, schools, and defense? Where does all that money come from, and where does it go? Today, we're diving into the fascinating world of government finance – let's explore!

Introduce the topic and connect it to students' daily lives.

What is Fiscal Policy?

It's how the government uses:

  • Taxation: Collecting money from individuals and businesses.
  • Spending: Deciding where to use that collected money.

...to influence the economy and achieve goals like a strong job market and stable prices.

Explain what fiscal policy is in simple terms.

Where Does the Money Come From?

Main Sources of Government Revenue:

  • Income Tax: Paid on earnings from jobs.
  • Payroll Tax: Funds social security and Medicare.
  • Corporate Tax: Paid by businesses on their profits.
  • Sales Tax: Added to the price of goods and services.
  • Property Tax: Paid by homeowners to local governments.
  • Excise Tax: Taxes on specific goods like gas or tobacco.

Discuss different types of taxes the government collects.

Where Does the Money Go?

Key Areas of Government Spending:

  • Social Security & Medicare: Support for seniors and healthcare.
  • Defense: Funding for the military and national security.
  • Education: Support for schools and colleges.
  • Infrastructure: Building and maintaining roads, bridges, public transit.
  • Healthcare: Programs like Medicaid and health research.
  • Interest on Debt: Payments on money the government has borrowed.

Explain how the government allocates its funds to different sectors.

The Government's Budget

A plan for income and expenses!

  • The government creates a budget each year.
  • It estimates how much money it will collect.
  • It decides how much money it will spend on different programs.

Why is it important?

  • Ensures funds are used wisely.
  • Addresses national priorities.
  • Impacts every citizen!

Introduce the idea of a budget and its importance.

Budget Breakdown Challenge!

Now it's YOUR turn to be the budget planner! You'll receive a Budget Breakdown Challenge worksheet where you'll decide how to allocate a hypothetical budget. Think carefully about your priorities!

Set up the worksheet activity. Explain that students will get to be budget creators.

Your Role as a Taxpayer

Every decision about taxes and spending impacts us all. How do you think these choices affect your daily life and future? Get ready to share your Taxpayer's Thought Bubble.

Conclude with a thought-provoking question for the cool-down.

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Worksheet

Budget Breakdown Challenge

Instructions: Imagine you are a government official with a budget of $100 billion to allocate across different sectors. Your goal is to distribute these funds in a way that best serves the needs of the country. For each sector below, write down how much money (in billions of dollars) you would allocate and provide a brief justification for your decision.

Your Budget: $100 Billion

1. Education

  • Allocation: $





    * Justification:











2. Healthcare

  • Allocation: $





    * Justification:











3. National Defense

  • Allocation: $





    * Justification:











4. Infrastructure (Roads, Bridges, Public Transit)

  • Allocation: $





    * Justification:











5. Social Services (Poverty Reduction, Housing, Food Assistance)

  • Allocation: $





    * Justification:











6. Environmental Protection

  • Allocation: $





    * Justification:











7. Research & Development (Science, Technology)

  • Allocation: $





    * Justification:











Total Allocated: $____________ Billion (Should equal $100 Billion)

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Cool Down

Taxpayer's Thought Bubble

Instructions: Reflect on today's lesson about government money and spending. Answer the following questions honestly and thoughtfully.

1. What was one new thing you learned about how the government gets or spends money today?







2. If you could decide on one area for the government to increase spending, which area would it be and why?












3. How do you think government financial decisions might affect your life in the future?












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