Tuesday, December 7th

One of our topics on Thursday will be something everyone has been looking forward to: TAXES! Read pages 64-71 in the economics book. Here are the introductory questions for this topic, bring them tomorrow!  HIGHLIGHT AND COPY

 

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?
• Requires thought - why is sales tax considered a regressive tax?
• Google/Research question - What is "tax freedom day"?  What is Wisconsin's?