1. Divide page 6 into a 4 square
FEDERAL GOV’T
REVENUE EXPENDITURES
STATE GOVT (TEXAS)
LOCAL GOV’T
CHALLENGES

2. Federal Government Revenue
Where does the Government get most of its revenue from?

3. Federal Government Expenditures
What does the Federal Government spend MOST of its money on?

4. Texas Revenue Where does Texas get most of its revenue from?
Who contributes to this?

5. Texas Expenditures What does Texas spend MOST of its money on?
Does this surprise you?

6. Local Government Revenues
Where does the local government get most of its revenue from?
Who contributes to this?

7. Local Government Expenditures
What does Texas spend MOST of its money on?
How does this effect you?

8. GET A STAMP! Page 7 > How would you spend the money?
Review the pie charts one more time- look at the expenditures of either the Federal, State, or Local government and decide If you were going to run the Federal/State/Local (Pick ONE) government, what would your expenditures be? 1. Create your own pie charts with 4 for income and 6 for expenditures 2. Explain the why for each category (I & E) at the bottom. Use BECAUSE statements.

9. Page 4: Mixed Market Circular Flow

10. Vocab: List these on the back of the workbook
7. FICA
8. IRS
Tax types:
Sales tax
Estate tax
Flat/proportional tax
Sin tax
Payroll tax
Property tax
Progressive tax
Regressive tax
Budget deficit
Budget surplus
Fiscal year
Expenditure
Revenue
The ‘Fed’