Today’s fantastic family finance article is:
Do your kids have any idea what it’s like to pay taxes?
Don’t let that first summer job paycheck be the rude awakening. “Hey, what’s this net pay thing!?”
Conan O’Brien has a quick tip for introducing kids to the trauma of taxes at an early age. He sums it up in this favorite tweet:
“Just taught my kids about taxes by eating 38% of their ice cream.”
After the kids stop crying, you can have a quick conversation about where taxes go. The big three dominate the federal list: 27% military, 26% health, 15% interest on the federal debt. Of course, that third one might just start the tears all over again. See today’s article for more info and a nice little summary graphic.
Enjoy your net ice cream kids.
Get tomorrow’s tip here.