THE GOVERNMENT, TAXATION, & ECONOMIC ACTIVITY CE.13C.

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Presentation transcript:

THE GOVERNMENT, TAXATION, & ECONOMIC ACTIVITY CE.13C

QUESTION How does the government influence economic activity?

ECONOMIC ACTIVITY taxes, borrows, and spends The government taxes, borrows, and spends to influence economic activity.

GOVERNMENT TAX CYCLE Government tax increases reduce the funds available for individual and business spending; tax decreases increase funds for individual and business spending.

GOVERNMENT BORROWING Increased government borrowing reduces funds available for borrowing by individuals and businesses; decreased government borrowing increases funds available for borrowing by individuals and businesses. US Debt-

GOVERNMENT SPENDING Increased government spending increases demand, which may increase employment and production; decreased government spending reduces demand, which may result in a slowing of the economy.

GOVERNMENT SPENDING Increased government spending may result in higher taxes; decreased government spending may result in lower taxes.

THE 16 TH AMENDMENT The 16th Amendment to the Constitution of the United States of America authorizes Congress to tax personal and business incomes.

REVIEW Describe the impact of taxation, including an understanding of the reasons for the 16th Amendment, spending, and borrowing.