Thursday, December 3rd

One of our topics tomorrow will be something everyone has been looking forward to: TAXES! Read pages 65-71 in the economics book. Here are the introductory questions for this topic, bring them tomorrow!

Taxes, Taxes, and more Taxes
Please read pages 65-71 in the Economics Book and answer the questions below.

About half of the money the federal government takes in from taxes is from ________________.

Explain the difference between progressive and regressive taxes.

What is an Excise Tax and why is it an indirect tax?

Explain what a Tariff is.

How do you think a business that is required to pay a tariff instead ends up putting the cost of the tariff on us, the consumers?

What is the GDP/or GNP and why is it important?

Google/Research question - how much does the average person pay in taxes out of their pay check? (a percent) see if you can find it...