Taxes - How Does The Government Spend Money?

Washington

State & Local Government Expenditures

By Function
$ Millions 2004-05

- K-12 Education = $9,232
- Public Welfare = $6,758
- Health & Hospitals = $4,939
- Higher Education = $4,527
- Governmental Administration = $1,940
- Highways = $2,765
- Housing, Community Development, Sewerage, Solid Waste = $2,684
- Natural Resources,
Parks & Recreation = $1,604
- Interest on General Debt = $1,844
- Correction = $1,355
- Police & Fire Protection = $2,169
- Other = $4,544
- Total = $44,360

Savings and Debt

People nowdays can't save too much money because of the fact that the credit cards have a high interest percentage rate. When you make a late payment in a credit card bill, you will be charged more than you were suppose to pay, therefore the interest rates comes and puts the price higher, and at the end, it's more expensive. That's why most Americans don't get to save anything in an account since they have to pay an interest rate for the credit cards and they get in big debts sometimes, that could even mess up the credit, besides of the fact that when you pay late, your credit score goes lower and then you won't be able to qualify in buying expensive houses or cars.

Critique of GDP Podcast

The Podcast that I liked was Veronica's and Lucy's. This GDP Podcast was good because it had questions asked and answered, it also had pictures relevant to the podcast and what was said. The podcast was understandable and clearly spoken. It gave examples about the top five gross domestic product nations. I learned a lot throughout this podcast and I also liked it. Good job Vero and Lucy!!!

http://mmoloneyiths.com/econ/podcasts/gdp/veronica-lucy.mov

US Trade Deficit: Getting Better

This article discusses about the trading around the world and the trade deficit. The trade deficit is a negative balance of trade also know as a trade gap, The trade deficit occurs when we have more imports than exports. This leaves the U.S. with a trade gap. If we get to have more exports than imports, we'll be leaving this trading gap with a lower amount, and our economy will go up. China, Ecuador, Colombia, and most of the South American countries for example, have a McDonald's and that helps our economy to go up since it comes from the U.S. and it's exported in another country.

Taxes - How does the Government get Money?

Explain the different types of taxes Americans pay. How does the federal government get money? How about the state government? And how do local (city) governments get money? Make a chart and track all of the different ways Americans are taxed. Hint - there is more than one!

The different types of taxes we pay are: Direct Taxes on income from work, Indirect taxes on income from work, Taxes on income from capital, Taxes on property, Corporate taxation and Taxes on goods and services. Check the chart on how we pay these taxes here or here <--click Open when new window appears The State Government, Federal Government and Local Goverment gets money by the taxes we pay. These taxes are called Direct Taxes that are taxes payable on income from work, taxes on income related to work (such as sickness benefits, pensions and parental benefits) and basic pension contributions.

Students Loans - Beware

Why do you think some of these culinary school students took out such large student loans? What is your feeling on student loans? Do you plan on taking out any student loans? If so - for approximately how much?
The colleges are expensive to study, and that's why some people don't even apply for one. Some other people that do apply, take student loans and financial aid, in order to study and pay after they get their degrees. This culinary schools takes so large student loans because some of them have programs really expensive, up to $48,000 for 2 years and some people that apply to these colleges don't come from rich families, but some others do. In my opinion this large student loans should be applicable to these people that know they will make a living after studying this in college. I'm not planning to take any student loan because I joined the U.S. Marines Corps (USMC) and after I retire from the USMC I have the chance to get the Montgomery GI Bill for college payments and I will study my career.

mg

HELLOOOO