https://padlet.com/lussiermat/qvvjyk4eut8cix9c Economic Project en-us 2022-10-20 12:16:43 UTC 2023-01-10 17:24:22 UTC hello@padlet.com lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2348935946 A proportional tax is a tax that makes the same percentage from ever single American paying taxes.]]> 2022-10-20 12:21:15 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2348935946 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2348937257 A progressive is one where as income increases, the percentage of income paid out as taxes also increases.]]> 2022-10-20 12:22:08 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2348937257 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2348938504 A regressive tax is a tax that takes a larger share in taxes from low income households]]> 2022-10-20 12:23:00 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2348938504 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2348940259 Those who are going to benifit from the taxes that the government collects should be the ones to pay for it.]]> 2022-10-20 12:24:09 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2348940259 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2348941492 The belief that people should be taxed according to their "Ability to pay."]]> 2022-10-20 12:24:56 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2348941492 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2357582885 - Where does the state receive most of its funding?
             The state receives most of its fundings from taxes.

- What percentage of the State Revenue for 2019 is from Individual Income Taxes?
             The percentage of the State Revenue for Indivdual Income Taxes is 13%

- What Sources of Revenue exist that are exclusive to the State level of government, compared to local government.
             ]]> 2022-10-26 16:12:19 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2357582885 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2357590797 - What percentage of the State Revenue for 2019 is from Individual Income Taxes?
The percentage of the State Revenue for Individual Income Taxes is 13%

- What percentage of the money was spent on education?
Taxpayers only paid 0.32% on education funds while the State and local funds spent 3.76%

- What percentage of the money was spent on the roads?
Only 24% of all of the spending was spent on the roads.

]]> 2022-10-26 16:16:41 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2357590797 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2363603380 Definition: When the government uses taxation and public spending in order to control the total demand of public goods and services for the economy.

]]> 2022-10-31 16:20:58 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2363603380 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2365163552 - What are the key steps to the U.S. Budget Process?  Provide 5 key steps, beginning and ending with the President
• President Budget Request
* Budget Resolution
* Appropriation Bills
* Authorization Bills
* Revenue Measures]]> 2022-11-01 15:50:21 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2365163552 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2365165411 Definition: What the Federal Reserve, the nations bank, does to influence the amount of money and credit in the U.S. economy.]]> 2022-11-01 15:51:28 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2365165411 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439633929 - Where does the Locality receive most of its funding? Provide the three largest categories
* Mandetory Spending
* Discrestionary Spending
* Interest on Debt

- What percentage of the Local Revenue for 2020 is from Property Taxes?
Property taxes are the primary source of tax collections at the local level, responsible for 72.2 percent of local tax revenue in fiscal year 2020 

- What Sources of Revenue exist that are exclusive to the Local level of government, compared to State governments?
They mostly come from property, sales, and a bunch of other taxes.


]]> 2023-01-10 16:49:14 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439633929 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439644146 - What areas of spending was the largest in the Local budget?
* Education
* Health
* Service Program

- How much money was received by Allendale from the State Government?
Allendale recieved a little more than $321 million

- What would likely be counted in the “Recreation and Culture” section of the local budget?
I think parks and museums would count as recreation and culture.]]> 2023-01-10 16:55:13 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439644146 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439647681 - What similarities and differences are there between State and Local Sources of Revenue?
State revenue gets its money from taxes, while local revenue comes from internal debt, etc.
- What similarities and differences are there between State and Local Spending?
State Spending barely pays for education while local 
spending spent about $321 million on education.]]> 2023-01-10 16:57:24 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439647681 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439665713 Definition: Fiscal policy that increases aggregate demand directly through an increase in government spending

Example: Tax Cuts]]> 2023-01-10 17:07:37 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439665713 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439669762 Definition:
Contractionary fiscal policy is when the government either cuts spending or raises taxes.
Example: Decrease government spending]]> 2023-01-10 17:09:51 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439669762 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439671147 Fiscal policy can be swayed by politics and placating voters, which can lead to poor decisions that are not informed by data or economic theory.]]> 2023-01-10 17:10:43 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439671147 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439676931 Definition: Open Market Operations is when the purchase and sale of securities in the open market by a central bank

Example: The Federal Reserve Bank]]> 2023-01-10 17:14:13 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439676931 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439681046 Definition: Future cash flows are reduced by the discount rate, so the higher the discount rate the lower the present value of the future cash flows.

Example: When other interests rate rises]]> 2023-01-10 17:16:41 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439681046 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439687232 Definition: Reduces the volume of deposits that can be supported by a given level of reserves
Example: If a financial institution holds $1,000,000 in deposits and the reserve ratio is set at 10%, then the minimum cash reserve the financial institution needs to maintain is $100,000]]> 2023-01-10 17:20:12 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439687232 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439692662 Definition:
The IORB is the rate of interest that the Federal Reserve pays on balances maintained by or on behalf of eligible institutions in master accounts at Federal Reserve Banks.
Example: If the federal funds rate is lower than the IORB rate, banks will borrow in the federal funds market and deposit those funds at the Fed to earn a profit on the interest rate differential]]> 2023-01-10 17:23:33 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439692662 lussiermat https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439693874 The issue with the Fed would be responding to past economic conditions with policies that are not likely to affect the economy for a year or more.]]> 2023-01-10 17:24:22 UTC https://padlet.com/lussiermat/qvvjyk4eut8cix9c/wish/2439693874