//melvindale.melnapschools.com/apps/classes/1016940/assignments/ Class Name: Economics - 5th Hour - Semester 2 - 20/21 Instructor(s): Ian Striz en-us SchoolSitePro //melvindale.melnapschools.com/homeworkItem7802240 //melvindale.melnapschools.com/apps/classes/1016940/assignments/ ]]> Thu, 27 May 2021 01:06:15 PDT //melvindale.melnapschools.com/homeworkItem7862107 //melvindale.melnapschools.com/apps/classes/1016940/assignments/ ]]> Thu, 03 Jun 2021 00:13:28 PDT //melvindale.melnapschools.com/homeworkItem7767242 //melvindale.melnapschools.com/apps/classes/1016940/assignments/ ]]> Sun, 23 May 2021 03:15:33 PDT //melvindale.melnapschools.com/homeworkItem7741681 //melvindale.melnapschools.com/apps/classes/1016940/assignments/

Then, in the space provide here, respond to these prompts:


1. Identify 2 changes the federal government has made to the Child Tax Credit.
2. Is this policy more likely to FIRST increase demand (consumption) or supply (production) in the economy?


I have also linked to the full article if you would like to try to read that on your own time. It may be hidden behind a paywall. If it is not, the WSJ has a feature that will read the article to you.
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Most people agree that taxes are necessary but that too much taxation is bad for the economy. The most effective taxes are simple, equitable, and efficient.

One question we ask when deciding on taxes is who should pay them. Below are two answers to that question:

1. People who get the benefit from the government service should have to pay, i.e. if you drive a car you pay a gas tax, or if you drive on a toll(tax) road you pay the toll(tax). - Benefit Principle

2. People who have the ability to pay should have to pay, i.e. if someone earns more than enough income for them to live comfortably, they should pay more in tax than someone who does not earn enough income. - Ability to Pay Principle

Another question we ask is what type of tax? There are 3 types:

1. Progressive - The more resources/wealth/income you have, the higher percentage of taxes you pay. One example is income taxes.
2. Regressive - The less resources/wealth/income you have, the higher percentage of taxes you pay. One example is sales taxes on necessary goods and services.
3. Proportional - Everyone pays the same percentage of tax regardles of their resources/wealth/income. One example is property taxes.

In this assignment you are going to explore the answer to those questions: Who should have to pay taxes. First, we will build some background together about taxes. Second, watch the video and respond to the questions in the attached Google Form. This is what you will turn in.


NOTE: This video is presenting an argument. Because of that, it has a bias for one tax plan above the others. You will notice this in the way they use sounds and the tone of the narrator's voice. Your job is not to automatically agree or disagree with the video. Your job is to listen to it, think about your own priorities relative to taxation (the stuff in the notes) and make a descision that you think is best.
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I have set the due date for today. If you don't get it done today, reminder, I accept work up to 7 days past the deadline with no penalty, so don't stress.
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The Federal Reserve's role in all of this is to monitor how much money is being created, and using their "tools" to either speed up or slow down that process. When they do this they have to balance risks. If they speed the process up too fast (easy-money policy) then we risk inflation. If they slow it down too much (tight-money policy) then we risk a recession.
]]> Fri, 16 Apr 2021 10:49:16 PDT //melvindale.melnapschools.com/homeworkItem7417153 //melvindale.melnapschools.com/apps/classes/1016940/assignments/ Step 2: Read the article linked below, and also the infographic attached to learn about money through time.
Step 3: Use the worksheet to evaluate different items for their usefullness as currency/money. You will rank them using the criteria of Characteristics of Money and Functions of Money. Descriptions of those can be found in Chapter 14, section 1 of the text.
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