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16. Financing the Government.. Taxes. Nontax Revenues and Borrowing.

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Presentation on theme: "16. Financing the Government.. Taxes. Nontax Revenues and Borrowing."— Presentation transcript:

1 16. Financing the Government.

2 Taxes.

3 Nontax Revenues and Borrowing.

4 Spending and the Budget.

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6 higher one’s income, the higher the tax

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8 a declaration of that income and of the exemptions and deductions he or she claims

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10 amounts owed by employees are withheld from their paychecks

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12 taxes levied at a flat rate, without regard to the level of a taxpayer’s income or his or her ability to pay them

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14 tax laid on the manufacture, sale, or consumption of goods and/or the performance of services

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16 levy imposed on the assets of one who dies

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18 one imposed on the making of a gift by a living person

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20 taxes laid on goods brought into the United States from abroad

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22 a charge for borrowed money, generally a percentage of the amount borrowed

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24 the yearly shortfall between income and outgo; and it borrowed heavily to make up the difference

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26 more income than outgo

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28 the government’s total outstanding indebtedness

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30 benefits that federal law says must be paid to all those who meet the eligibility requirements

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32 Congress and the President can decide each year just how much will be spent on many of the things that the government does

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34 nearly 80% of all federal spending (paying interest on public debt)

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36 when signed by the President, this allows the affected agencies to continue to function on the basis of the previous year’s appropriations

37 Financing the Government.

38 Interpreting Political Cartoons.

39 How does the Federal Government Draw Revenue?

40 The Federal Government’s Income (in billions of dollars)

41 Progressive Income Tax.

42 U.S. Department of the Interior.

43 Don’t Borrow Against the Future.

44 U.S. Postal Service.

45 Voices on Government.

46 Government Borrowing, 1940-2005.

47 Budgets in Crisis.

48 Food Stamp Program.

49 Entitlements, Interest on Public Debt, and Defense.

50 Federal Spending (in billions of dollars)

51

52 Interpreting Political Cartoons.

53 Analyzing Political Cartoons.


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