Taxes What are they? Why do we need them? What are they used for?

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Presentation transcript:

Taxes What are they? Why do we need them? What are they used for? How are they set up?

Creates a lot of controversy Why do we need taxes? Tax- Charge imposed by the government on people or property for public purposes Creates a lot of controversy

National defense, legal system Parks, Highways, etc. Taxes and Public Goods National defense, legal system Parks, Highways, etc. Financed through taxes

Correct problems caused by negative externalities What do taxes do? Correct problems caused by negative externalities EX: water and air pollution Solution: Pollution tax

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