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16. Financing the Government.
Nontax Revenues and Borrowing.
Spending and the Budget.
higher one’s income, the higher the tax
a declaration of that income and of the exemptions and deductions he or she claims
amounts owed by employees are withheld from their paychecks
taxes levied at a flat rate, without regard to the level of a taxpayer’s income or his or her ability to pay them
tax laid on the manufacture, sale, or consumption of goods and/or the performance of services
levy imposed on the assets of one who dies
one imposed on the making of a gift by a living person
taxes laid on goods brought into the United States from abroad
a charge for borrowed money, generally a percentage of the amount borrowed
the yearly shortfall between income and outgo; and it borrowed heavily to make up the difference
more income than outgo
the government’s total outstanding indebtedness
benefits that federal law says must be paid to all those who meet the eligibility requirements
Congress and the President can decide each year just how much will be spent on many of the things that the government does
nearly 80% of all federal spending (paying interest on public debt)
when signed by the President, this allows the affected agencies to continue to function on the basis of the previous year’s appropriations
Financing the Government.
Interpreting Political Cartoons.
How does the Federal Government Draw Revenue?
The Federal Government’s Income (in billions of dollars)
Progressive Income Tax.
U.S. Department of the Interior.
Don’t Borrow Against the Future.
U.S. Postal Service.
Voices on Government.
Government Borrowing, 1940-2005.
Budgets in Crisis.
Food Stamp Program.
Entitlements, Interest on Public Debt, and Defense.
Federal Spending (in billions of dollars)
Interpreting Political Cartoons.
Analyzing Political Cartoons.
American Citizenship Financing Government Chapter 16 Notes.
Chapter 16 Financing Government. Power to Tax Congress is given the power to tax by the Constitution.
Chapter 16 vocabulary. Any tax in which each step in the rate schedule is geared to the taxpayer’s ability to pay.
UNIT I: THE EXECUTIVE BRANCH CHAPTER 16 – FINANCING GOVERNMENT U.S. Government.
C H A P T E R 16 Financing Government By: Mr. Parsons.
Presentation Pro © 2001 by Prentice Hall, Inc. Financing Government.
Presentation Pro © 2001 by Prentice Hall, Inc. Magruder’s American Government C H A P T E R 16 Financing Government.
Taxes. Limitations on taxes May be levied on for public purposes Export taxes are prohibited Direct taxes must be proportional according to a states'
The Federal Budget and Social Security. Introduction Key Terms – Budget – A financial plan for the use of money, personnel, and property. – Balanced Budget.
Financing Government Chapter 16. Taxes Section One.
CH 16, pp. 446 to 462 “Death and Taxes”. Tax return A declaration of a person’s or business’s income for a given year – Jan. 1 to December 31. Filed by.
Chapter 16: Financing Government Section 1. Copyright © Pearson Education, Inc.Slide 2 Chapter 16, Section 1 Objectives 1.Explain how the Constitution.
123 Go To Section: Current Federal Taxes Chapter 16, Section Individual Income Tax Individual income taxes regularly provide the largest source.
The Federal Budget and Social Security. Key Terms Budget A financial plan for the use of money, personnel, and property. Balanced Budget When.
Ch. 15 The Gov’t at Work: The Bureaucracy What is a Bureaucracy? A large, complex administrative structure that handles the everyday business of an organization.
I. Introduction A. Key Terms B. Policy Tools 1.Budget A financial plan for the use of money, personnel and property The federal budget for 2010 was.
Nontax Revenues and Borrowing Nontax Revenues Nontax revenues come from a variety of sources, including canal tolls; fees for passports, copyrights, and.
Financing the Government. Taxes and Revenue Progressive tax – the higher the income, the higher the rate Payroll taxes – taxes matched by employers Regressive.
C H A P T E R 16 Financing Government. C H A P T E R 16 Financing Government SECTION 1 Taxes SECTION 2 Nontax Revenues and Borrowing Chapter
Chapter 16 – Financing Government By: Jason Winchell, Brock Pfingsten, Rasy Nhol, Mikhaela Creekmore.
Copyright, 2000 © Prentice Hall Magruder’s American Government C H A P T E R 16 Financing Government.
© 2001 by Prentice Hall, Inc. Magruder’s American Government C H A P T E R 16 Financing Government.
Warm-up: Make sure you have completed small group questions from Friday How and why did the Constitution give Congress the power to tax. List the most.
Tuesday 4/7 RAP What do you think of this political cartoon? Today: Movie “Dave”
Tuesday 11/17 RAP What do you think of this political cartoon? What is happening in many US states regarding Syrian refugees? Today: Movie “Dave”
CHAPTER 20 SECTION 1 PGS Taxing and Spending.
Unit IV – Legislative & Executive Taxing & Spending: The Budget Process.
Chapter 14 Jeopardy. Tax based on a person’s earnings (taxes taken out of your pay check):
Chapter 14: The Budget …or why we’re screwed. Focus: Does Your Family Have a Budget?
Chapter 14 Taxes and Government Spending. Section 1: What are Taxes? Tax: required payment to a local, state, or national government What is tax money.
Chapter 16: Financing Government Section 1: T A X E S.
Congress, the President, and the Budget. The debt and the deficit Budget deficit – spending > revenues in a year Budget deficit – spending > revenues.
Taxes and the Federal Budget Where does all my money go and how does the federal government influence the economy?
6.3 Financing and Spending the Budget Do Now: Who should pay?
Budget Deficit and National Debt A budget deficit exists when the federal government spends more than they are receiving in revenues within the year. When.
Bell Ringer “In this world nothing can be said to be certain, except death and taxes.” –Benjamin Franklin “The only difference between death and taxes.
BELLWORK What is the title of Unit 7, as well as Chapter 20? (Hint: Chapter 20 is right after Chapter 19 and right before Chapter 21)
Taxes. What are Taxes? Taxes are payments people are required to pay to local, state and national governments. Taxes are used to pay for services provided.
Taxes And Spending “In this world, nothing is certain but death and taxes” -Benjamin Franklin 1.
THE FEDERAL BUDGET 10 trillion and counting https://www.youtube.com/watch?v=pfZyffw7U6Ehttps://www.youtube.com/watch?v=pfZyffw7U6E https://www.uschamber.com/speech/10-truths-about-america%E2%80%99s-
Sources of Federal Revenue Chapter 14 pp
Ch. 25 Section 1 The Federal Government. Preparing the Budget Each year, the President and Congress are responsible for creating the federal budget –
Bureaucracy & Financing the Government. Bureaucracy Most of it is contained within the Executive Branch (p. 417) President is the Chief Administrator,
Chapter 25.1 The Federal Government. Preparing the Budget Each year, the president and Congress create the federal budget, which is a plan for how the.
The Congress, the President, and the Budget: The Politics of Taxing and Spending.
Bureaucracy & Financing. Bureaucracy Bureaucracy: Large, complex administrative structure which handles everyday business of the federal government.
Taxes And Spending “In this world, nothing is certain but death and taxes” -Benjamin Franklin.
Do Now Write a list of as many types of taxes that you can think of…..
Chapter 5 Taxes. Payroll Taxes ◦ Largest part of government revenue ◦ Based on employee total earnings ◦ Paid by you and your employer ◦ Include income.
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