American Government
1st EditionGlen Krutz
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Myers' Psychology for AP
2nd EditionDavid G Myers
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Marketing Essentials: The Deca Connection
1st EditionCarl A. Woloszyk, Grady Kimbrell, Lois Schneider Farese
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Intermediate Accounting
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Education
-Every state spends taxpayer money to support at least one public state university.
-They also provide financial help to local governments for public elementary and secondary schools.
Public Safety
-State police enforce traffic laws and help motorists in an emergency.
-State governments build and run corrections systems.
Public Welfare
-State funds support hospitals and clinics and unemployment benefits.
Highway and Transportation
-State
crews resurface roads and repair bridges.
-States pay some of the cost of facilities like waterways and airports.
Arts and Recreation
-States fund parks, nature reserves, museums, and art and music programs.
Administration
-State governments spend money to keep the government running.
-Revenues pay for state workers' salaries.
An efficient tax system is one that
(i)maximizes tax revenues.
(ii)minimizes deadweight losses from taxes.
(iii)minimizes administrative burdens from taxes.
(iv)promotes equity across taxpayers.
a. (i) only
b. (ii) and (iii) only
c. (i), (ii), and (iii) only
d. (i), (ii), (iii), and (iv)
Fundamentals of Engineering Economic Analysis
1st EditionDavid Besanko, Mark Shanley, Scott Schaefer
215 solutions
Principles of Economics
7th EditionN. Gregory Mankiw
1,394 solutions
Statistical Techniques in Business and Economics
15th EditionDouglas A. Lind, Samuel A. Wathen, William G. Marchal
1,236 solutions
Introductory Business Statistics
1st EditionAlexander Holmes, Barbara Illowsky, Susan Dean
2,174 solutions
charges individuals with high incomes a LOWER percentage of their total income.
25,000 income 15,000 amount spent 1,050
sales tax rate 7% tax rate 4.2%
75,000 income 15,000 amount spent 1,050 sales tax rate 7% tax 1.4% tax rate
150,000 income 15,000 amount spent 1,050 sales tax rate 7% tax rate 0.7%
50,000 15%
36,000 20%
Background information: In 2012, President Obama and
Congress debated the issue of taxes and tax cuts.
In this speech, President Obama is discussing the effects of a potential tax increase.
A typical middle-class family of four would see its income taxes go up by $2,200. That's $2,200 out of people's pockets. That means less money for buying groceries, less money for filling prescriptions, less money for buying diapers. . . .
. . . Businesses can't afford it either. . . . Economists predict that if taxes go up on the middle class next year, consumers will spend nearly $200 billion less on things like cars and clothes and furniture - and that obviously means fewer customers. That cuts into business profits.That makes businesses less likely to invest and hire, which means fewer jobs.And that can drag our entire economy down.
—President Barack Obama,
November 28, 2012
Which statements best communicate the main idea of this speech? Check all that apply.
Increased taxation on the middle class will improve the
economy.
Lower taxes increase consumer spending.
Increased consumer spending strengthens the economy.
Higher taxes will have a severe impact on citizens.
Spending on social needs is a low priori