In our current society in the United States, wealth inequality has grown by leaps and bounds. As time is passing, we are seeing that the rich individuals in our communities are getting richer and the poor individuals are getting poorer. This is to be expected with capitalism at the base stage, but one would think that there would be measures in place to prevent the poor from getting too much poorer. However, in the United States at least, some of the wealthiest members of society are,…
been a very controversial topic for awhile now. It seems everyone has different opinions on how it should work. When it comes to the tax distribution between the rich and the poor the debate becomes even harder. The average tax rate is the total amount of tax divided by total income; for example, if somebody makes $100,000 and pays $15,000, then their average tax rate is 15%. The real debate comes in when you start talking about taxes between the rich and the poor. I believe the rich should be…
Housing Supply/Demand The City of St. Johns housing market is presently experiencing limited supply while demand has remained steady. The limited supply is caused by the lack of new housing development within the previous decade. The steady demand is due to the City of St. Johns housing affordability and stable regional employment opportunities created by the city’s close proximity to Lansing, the state capitol of Michigan. This limited supply and steady demand has resulted in the City of St…
Sin Taxes and Their Impact on Health Care Merriam-Webster defines a sin tax as “a tax on substances or activities considered sinful or harmful (as tobacco, alcohol, or gambling)” (np). Sin taxes are “a form of excise tax. That is a tax levied on some but not on all commodities” (Sadowsky 1). Simply put, Sin taxes are used to control the supply and demand of certain products. By increasing the cost of items it deems harmful, the government can decrease that item’s desirability. Decreasing…
Trickle-down economics comes in many forms. Supply-side arguments, these are economic arguments that are most normally associated with tax cuts for high earners, the 1% of Americans, these arguments are used to suggest that the wealthy would be more incentivized to raise output in the marketplace and create better jobs. Demand-side arguments, these as well are associated with subsidies and tariffs, they continue on the argument that the wealthy need protections in order to keep paying their…
The Zika virus will also have a remarkable impact on the Olympics scheduled to be in Rio de Janeiro, Brazil in the summer of 2016. In addition to the cost of building the stadium, Brazil will have to deal with low audience and athlete attendance rates because of Zika. Athletes expected to perform in the Olympics have been given permission to not attend if they wish not to by the U.S. Olympic committee. Hope Solo, a…
0 Q2 Q1 Quantity There are many reasons for government to place higher tax rates on products such as petrol and cigarettes because the government tends to impose sales taxes to increase revenues, and to reduce consumption. Higher tax also would act as an incentive to reduce the pollution caused by certain products such as petrol and cigarettes. As a from the diagram above, the demands for the products have been decreased…
helps to understand economics, so we know how economic conditions impact our investments such as stocks, and bonds. In 2008, when the economy crashed, everything got effected especially the automotive industry and real estate market. The unemployment rate was the highest it’s been since the Great Depression. This situation effected everyone including me. Government Role Public finance is when the government pays for the services it provides to the public, such as, schools, roads, social…
This is inevitable trend that has been going on since the dawn of presidencies. Now how quickly we spend money is the key. William or better known as “Bill Clinton” obviously rose the debt but at a moderate rate. Almost making a smooth curve on a graph. While Bush’ economy looked like the “stairway to heaven.” It stretched further than the projected outcome. Clinton had many programs that we needed in place such as Omnibus Budget Reconciliation Act of 1993…
the restriction of state boundaries on healthcare, price transparency for exams and procedures, lower restrictions on safe and dependable oversea drugs, and allow individuals to fully deduct health insurance premium payments from their tax returns under the current tax system. On the surface, Trump’s plan is very practical and can work to lower the cost of healthcare. However, the issue with Trump’s free market healthcare is that it will not be equal. Trump’s plan to operate healthcare in a free…