• Taxes are collected by the Government, then used to pay for it’s expenses. • Medicare is health insurance for the young who are disabled and elders 65 and up. It is federally funded. • The IRS (Internal Revenue Service) is the federal agency that collects and enforces taxes. • Social security is an insurance program that benefits the unemployed, disabled and the retired. When you work, the money you earned is put into the system. Later on, when you are retired, you or someone else can use that money for you benefits.
• Taxes are collected by the Government, then used to pay for it’s expenses.
ReplyDelete• Medicare is health insurance for the young who are disabled and elders 65 and up. It is federally funded.
• The IRS (Internal Revenue Service) is the federal agency that collects and enforces taxes.
• Social security is an insurance program that benefits the unemployed, disabled and the retired. When you work, the money you earned is put into the system. Later on, when you are retired, you or someone else can use that money for you benefits.