Our son (soon to be seven years old) now knows that the price tag on toys and taxes. Thus he knows that price tag on the toys is not the actual price we pay at the cash register. He knows he has to pay 13% HST tax every time (it is us paying though). He is also getting good with rounding numbers up and calculating and overall understanding of basic math, of course, around money.
Today he was playing in the living room and for fun he set up a pretend store. He displayed his toys and prepared SOLD OUT tags in anticipation of his successful future sale of his merchandise to us.
“Mom and Dad come and buy my toys for $5 each and $100 tax,” he said.
“$100 tax? You know you have to give that tax back to the Government,” I added.
Pause.
“Mom and Dad come to my Government and buy some toys,” he yelled from another room after a few seconds of silence.
A few hours later.
“Can I take over your Government?” I asked.
“Why?” he asked surprised.
“Because I want to lower taxes,” I replied.
“No you cannot have my Government and I am not lowering any taxes,” he replied firmly.
Smile and enjoy our Kids Talk moment. Little minds often makes us think how complicated adult life is. Kids are learning as they grow.
Anna Lozyk Romeo
Aurora, ON
 now knows that the price tag on toys is not the actual price we pay at the cash register. He knows about the taxes.){kind=link}