iRubric: K-12 Income Standards - G12 rubric

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K-12 Income Standards - G12 K-12 Income Standards - G8 K-12 Personal Financial Literacy Series. Income Standards: Grade 12 Benchmarks. http://www.jumpstart.org/national_standers.html Rubric Code: M484B By gandalf Ready to use Public Rubric Subject: Finance Type: (Other) Grade Levels: 9-12

Income Student knows the grade 4 & 8 benchmarks and also that
	Yes 10 pts	No 0 pts
1. People’s income reflects choices they have made about jobs and careers, education, and skill development.	Yes	No
2. The wages/salaries paid for a given job depend on a worker’s skills and education, plus the importance of the work to society and the supply of and demand for qualified workers.	Yes	No
3. Social Security and Medicare are government programs that provide insurance against some loss of income and benefits to eligible recipients.	Yes	No
4. Social Security and Medicare are funded by a compulsory payroll tax.	Yes	No
5. People pay taxes on many types of income, such as wages or salaries, interest, dividends, capital gains, tips, commissions and profit from a self-owned business.	Yes	No
6. Deductions, exemptions, and credits reduce taxable income.	Yes	No
7. Employer-sponsored savings plans enable workers to shift some current income to the future, often with tax advantages.	Yes	No