The government collects taxes every week from working people. This money is spent on various things suchs as education, transportation, program funding, medicare and military exspenses. Below is a dollar bill chart that shows where each dollar goes for funding. Majority of the money goes to medicare ad social security (which is said to be diminished within the next 50 years.) The next highest amount of money goes into national defense which is basically funding for unnecessary wars. On the other hand, New York State spends money on things such as education, economical development and medicaid. There is not much of a difference between the way NYS spends their money and the way the Federal Government spends their money.
Thursday, May 31, 2007
Taxes-How does the Government Spend Money?
The government collects taxes every week from working people. This money is spent on various things suchs as education, transportation, program funding, medicare and military exspenses. Below is a dollar bill chart that shows where each dollar goes for funding. Majority of the money goes to medicare ad social security (which is said to be diminished within the next 50 years.) The next highest amount of money goes into national defense which is basically funding for unnecessary wars. On the other hand, New York State spends money on things such as education, economical development and medicaid. There is not much of a difference between the way NYS spends their money and the way the Federal Government spends their money.
Savings and Debt
Wednesday, May 30, 2007
GDP Podcast Critique
US Trade Deficit: Getting Better
What is this article discussing?
This article talks about the US economy expanding. If the US continues to export and grow in other countries, it will help our economy more than it has in over a decade.
What is a trade deficit?
A trade deficit occurs when a country imports goods from another country worth more then the value of its exports to that other country.
Why is the US trade deficit likely to go down in the future?
The US trade deficit is likely to go down because of all the business that the US economy is doing overseas. Because our exports are growing, it is helping our economy to become stronger creating more domestic jobs and a better domestic economy.
What kind of products is the US selling overseas?
A lot of products are being sold overseas. Everything from GM cars to KFC to the things needed to support the developing world such as factory machinery.
And what about the US dollar - how can a weak dollar actually help the US economy and the trade deficit?
American companies are sending more and more products overseas to countries that have a weaker dollar thus helping to make American goods more competitive in foreign markets.
Wednesday, May 23, 2007
Taxes- How Does The Government Spend Money?
Federal Taxes • Payroll Tax: collected from wages and salaries only
• Income Tax: collected from wages, salaries, rents, interest on bank accounts and dividends
• Corporate Income Tax: collected from a corporations net income
• Excise Tax: collected from the sales of items like gas, alcoholic beverages and tobacco
• Estate Tax: collected from a dead person’s estate
• Gift Tax: collected during the transfer of property between people
State Tax • General State Tax: collected from general sales
• Excise Tax: collected from the sales of items like gas, alcoholic beverages and tobacco
• Estate Tax: collected from a dead person’s estate
• Inheritance Tax: collected from a person after they inherit something from a dead person
City/Local Taxes • General Sales Tax: collected from general sales
• Excise Tax: collected from the sales of items like gas, alcoholic beverages and tobacco
• Property Tax: collected from assets like stocks, bonds, houses, cars and artwork
Miscellaneous Taxes • Pollution Tax: collected from companies that produce air, water, oil or water pollution.
Thursday, May 10, 2007
Student Loans
Saturday, March 17, 2007
Critique of Federal Reserve Podcast
This podcast was really good, especially compared to mine. They had a good set up of their information and how they answered the questions. The images coincide with the information that was being said throughout the podcast. Their voices were very clear and I could hear what they were saying perfectly. They discussed all the aspects of The Fed and even mentioned some things I did not know. The podcast wasnt outstandingly creative but it was somewhat creative. I would say this podcast was definately educational and interesting. Great sound effects Tiana.