10/28/13 “My Economic System”

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Presentation transcript:

10/28/13 “My Economic System” Is your economic more capitalist or more socialist than the U.S. economic system? Provide 3 examples of changes that go one way or the other.

More Capitalist More Socialist “My Economic System” More Capitalist More Socialist

10/28/13 Econ. Agenda My Economic System Project – work day #2 HW: Projects due to Harrison ABSOLUTELY NO LATER THAN Tues. end of class

U.S. Economic System Type: Explanation How does the U.S. get its money? How does the U.S. govt. spend its money? Individual Income Taxes High Medium Low President Obama’s Proposed Budget (2014): Medicare = % Military = % Education = % Etc. Total revenue = Total spending = Corporate Income Taxes Large Small Effective What goods & services are paid for privately? Examples, examples, examples, examples

Harrison’s Economic System Type: Explanation Trickle-Down economic theory because… How does my govt. get its money? How does Harrison’s govt. spend its money? Individual Income Taxes (lower than U.S. govt.) High Medium Low President Delfin’s Proposed Budget (2014): Medicare = % (more than U.S. govt.) Military = % (more than U.S. govt.) Education = % (more than U.S. govt.) Etc. Total revenue = (less than U.S. govt.) Total spending = (less than U.S. govt.) Corporate Income Taxes (higher than U.S. govt.) Large Small Effective? What goods & services are paid for privately? (more than U.S. govt.) Examples, examples, examples, examples