TAXES, taxes, taxes Understanding taxes.

Slides:

Advertisements

Similar presentations

2.04 Acquire knowledge of the impact of government on business activities to make informed economic decisions.

Advertisements

TAXES CHANGE BEHAVIOR. 1.PAY FOR THE COST OF GOVERNING WHAT ARE THE FUNCTIONS OF TAXATION?

Payroll withholding systemTax loophole Sin taxMedicare Property taxSurcharge Individual income taxProportional tax Investment tax creditRegressive tax.

Chapter 16 Public Finance: Expenditures and Taxes 1 Graphs and Tables Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved.

Taxes and Spending Chapter 14.

Taxes, National Debt & Fiscal Policy. Taxes Types of taxes Regressive: If the rich pay a smaller proportion of their income for the tax than do the poor.

TAXES: The main source of government revenue The Economics of Taxation  In addition to creating revenue for the government, taxes also impact the economy.

T for Taxes Chapter 9 sections 1 & 2 Teacher’s edition.

Sources of Government Revenue: How the government collects money.

TAXES: The main source of government revenue …nothing is certain, but death and taxes. B. Franklin …nothing is certain, but death and taxes. B. Franklin.

Describe the nature of taxes. What are taxes Legally mandated payment to the government that is not made in exchange for a good or service Examples: income.

Sources of Gov’t Revenue--TAXES Chapter 9. Criteria for Effective Taxes 1. Equity 1. Equity –Must be fair –Want to avoid tax loopholes —when people find.

Rano. Z.ZAkhriddinova Taxation. Types of taxation:  regressive tax  progressive tax  proportional tax.

What are Taxes? Why have Taxes? Funding Government Programs Allow governments to provide services and operate Taxes & the Constitution This is the first.

Sources of Gov’t Revenue--TAXES

TAXES: The Main Source of Government Revenue Economics for the 21 st Century.

Government Revenue Economics 120. There is a saying that only two things in life are certain: death and taxes.

CH. 16 & WHAT ARE “PUBLIC GOODS?”  Goods and services that the government provides for its citizens  Ex. Public school  Pg. 430.

Taxes!!! Taxes! Taxes. Essential Question: Why do all levels of the government need to collect taxes from its citizens?

Important Tax Forms W-2 form: reports employee’s annual wages and total amount of taxes withheld from his or her paycheck W-4 form: Determines how much.

Taxes As Incentives Unit Objectives: Recognize that governments impose taxes in order to collect revenues Identify reasons why people dislike paying taxes.

Government Debt vs. Deficit

definitions  Tax Charge levied by the gov. to meet public needs  Levy To impose  Revenue How much money you bring in  Expenditure How much money you.

Federal Govt. Collects Different Taxes Chap. 15. Two Principles of Taxation Benefit Principle – Those who benefit from a service, pay the tax. –Ex. Bridge.

Mandatory SpendingDiscretionary Spending spending Congress doesn’t have to approve annually because it is tied to some mandatory program money that.

Journal #12 How are citizens and businesses taxed in the U.S.? Think of any thing that we as citizens or business owners pay taxes for in the U.S. Feel.

TAXES Chapter 5. Used For n Sanitation n Prisons n Public Org. - Library, Fire, School n National Defense n Street/Park n Social programs - FICA (Federal.

Direct and Indirect Taxes By: Edmond, Max, and Russell Hold on tight, we are going on a ride m/watch?v=6Q3NPgHZ zDo.

Fairness In Taxes Sahara Burton, Parris Collins, Brittany Yokely.

Chapter 14SectionMain Menu Taxes. Chapter 14SectionMain Menu Clear Target I will be able to describe progressive, proportional, and regressive taxation.

Taxes. Tax A charge imposed by the government on people or property to raise money to meet public needs.

Do Now Write a list of as many types of taxes that you can think of…..

Sources of Government Revenue. Payroll Deductions Taxes – government fees on business and individual income, activities, products or property. Medical.

Sources of Government Revenue and Spending. Types of Taxes 1. Proportional - same percentage on everyone regardless of income example: flat tax, tithe,

© Thomson/South-Western ECONOMIC EDUCATION FOR CONSUMERS Slide 1 Chapter 5 LESSON 5.3 Taxes and Government Objective: By the end of class, students will.

Economics Unit 5 Fiscal Policy and Taxes Answer the first question on your guided notes sheet on your own!

2.04 Acquire knowledge of the impact of government on business activities to make informed economic decisions MM 2.00 Understand Financial Analysis.

Government Taxation and Spending. The Purpose of Taxes Taxes are designed to provide revenue for government programs. For example, California property.

Taxes. What are Taxes? Taxes are payments that people are required to pay to a local, state, or national government.

UNDERSTANDING TAXES AND GOVERNMENT SPENDING GOVERNMENT AND THE ECONOMY.

Taxes and Spending Chapter 14.

2b – Functions of Government and Government Finance

LECTURE IX: Stylized Facts of Taxation

Economics Unit Taxes.

Ch. 14 Know the criteria for effective taxes

Fiscal and Monetary Policy

Criteria for Effective Taxes

$100 $100 $100 $100 $100 $200 $200 $200 $200 $200 $300 $300 $300 $300 $300 $400 $400 $400 $400 $400 $500 $500 $500 $500 $500.

Government Expenses -Government Services -Government Employees

How Taxes Work Unit 14.1.

Government Taxation.

Taxes As Incentives Unit Objectives:

Taxes and Fiscal Policy

2b – Functions of Government and Government Finance

Fiscal Policy, Inflation & Taxes

The Economics of Taxation

Government Debt vs. Deficit

Taxation in the USA.

Principles of Taxation

Economics Review Ch. 7, 8, 9 and 10

Hey, did you hear the one about…………

ECONOMICS: April 10 Warm-up

MM 2.00 Understand Financial Analysis

ECONOMICS Chapter 16.4: Taxation Learning Target: Understand the principles and forms of taxation in the U.S. Success Criteria You should be able.

“You don’t pay taxes–they take taxes.”–Chris Rock

Government Debt vs. Deficit

Federal Budget.

Presentation transcript:

TAXES, taxes, taxes Understanding taxes

Classifications of Taxes Progressive – imposes a higher percentage rate of taxation on persons with higher incomes, and usually use a marginal tax rate. Regressive – imposes a higher percentage rate of taxation on low incomes than on high incomes. Proportional – imposes the same percentage rate of taxation on everyone, regardless of income.

Types of Taxes Personal Income Tax (Federal and State) Sales Tax Excise Taxes Property Tax Social Security Tax (FICA) Estate Tax Gift Taxes

TAX FORMS Taxes are the main source of revenue for the federal, state and local government and are used to provide us with public goods and services. They are also used to help the government stabilize the economy. See www.irs.gov tax forms and information.

Tic tAc taxes http://www.econedlink.org/interactives/EconEdLink-interactive-tool-player.php?filename=em370_TicTacTaxes.swf&lid=370