Teenagers often haven’t a clue where the US government gets its funding and how it’s spent. And more than half think members of Congress don’t pay taxes.
A national poll of about 1,000 13- to 17-year-olds by tax preparer H&R Block reveals that most know little about taxes. It’s not surprising: Block found just 3 percent have ever filled out an income-tax form.
“The education process begins at home,” says Kelli Ramey, a vice president with Block’s Dollars and Sense financial-education program. “Although many young people may consider the subject boring when they’re young, it is very important that parents start at an early age talking to their children — not only about taxes, but about money in general.”