1. Economic Priorities

2. Federal Government Income Individual Income TaxesCorporate Income Taxes Social Insurance TaxesOther: (Estate, gas, Luxury, Excise)

3. Income 1.Individual Income 2.Corporate Income 3.Social Insurance 4.Other Items What percentage of the national income would you like to tax each category?

4. Government Spending DefenseEducationInterestForeign AidOtherSocial SecurityEnvironment & Conservation Welfare & Income SecurityHealth

5. Spending 1.Defense 2.Education 3.Foreign Aid 4.Social Security 5.Welfare & Income Security 6.Health 7.Other 8.Environment 9.Interest What percentage of the national income would you like to spend on each category?

6. Federal Government Income Individual Income TaxesCorporate Income Taxes Social Insurance TaxesOther: (Estate, gas, Luxury, Excise) 43% 32% 6% 13% Now add these together? Does it come to 100%? Where does the rest of the $ come from?

7. Borrowing! That is 6% of our income we borrow. That totaled $163 billion in 2007. When our economy was good! Why do we borrow, because we spend too much and tax too little

8. Government Spending 2007 DefenseEducationInterestForeign AidOtherSocial Security Environment & Conservation Welfare & Income SecurityHealth 23% 1% 3% 7% 9% 13% 21% 22%

9. Homework Create a circle graph that illustrates your income and spending. 2007 Federal Income