Question of the Day Do you think the following quote is true or false and why? “We give the...
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Transcript of Question of the Day Do you think the following quote is true or false and why? “We give the...
Question of the DayQuestion of the Day
Do you think the following quote is Do you think the following quote is true or false and why?true or false and why?
““We give the government our We give the government our money, and they spend it where money, and they spend it where
they want without even asking us.”they want without even asking us.”
Income Tax for OccupationsIncome Tax for OccupationsDentistDentist-$113,000-$113,000– TaxTax-$29,274-$29,274
ParamedicParamedic-$33,000-$33,000– TaxTax-$3,683-$3,683
LawyerLawyer-$100,000-$100,000– TaxTax-$25,634-$25,634
Bank ManagerBank Manager-$53,000-$53,000– TaxTax-$11,138-$11,138
Social WorkerSocial Worker-$47,000-$47,000– TaxTax-$9,638-$9,638
Physical TherapistPhysical Therapist-$60,000-$60,000– TaxTax-$12,888-$12,888
MechanicMechanic-$49,000-$49,000– TaxTax-$10,138-$10,138
NurseNurse-$71,000-$71,000– TaxTax-$15,638-$15,638
Unit 5 Activity 2 Day 1Unit 5 Activity 2 Day 1Government Borrowing and DeficitsGovernment Borrowing and Deficits
Budget ProcessBudget Process
Governments make a Governments make a budgetbudget—plan —plan for managing and spending their for managing and spending their moneymoney
The budget has two parts:The budget has two parts:– A list of their A list of their revenuerevenue
– A list of their A list of their expendituresexpenditures—the items —the items on which they plan to spend their money on which they plan to spend their money onon
Balancing the BudgetBalancing the Budget
Governments try not to spend more than Governments try not to spend more than they receivethey receive
However, this is not always possible and However, this is not always possible and sometimes governments have to borrow sometimes governments have to borrow moneymoney
Balancing the Budget continuedBalancing the Budget continued
Most state constitutions require that the budget be balanced and that they cannot borrow money
States can ask the federal government for a grant—a sum of money given for a specific purpose
2003 Federal Expenditures2003 Federal Expenditures
2005 Louisiana Expenditures2005 Louisiana Expenditures
0 10 20 30 40
EducationParks andHospitalsHighways
Police ProtectionCorrection
Natural ResourcesPublic WelfareAdministration
InterestHealthOther
ExpendituresExpendituresCopy the following list into your notebook.Copy the following list into your notebook.
– DefenseDefense
– Human ResourcesHuman Resources——includes Education, training, employment, social includes Education, training, employment, social services, health, Medicare, income security, social services, health, Medicare, income security, social security, and veterans’ benefitssecurity, and veterans’ benefits
– Physical ResourcesPhysical Resources——energy, natural resources, environment, commerce and energy, natural resources, environment, commerce and housing credit, transportation, and community and housing credit, transportation, and community and regionalregional
– Other FunctionsOther Functions——agriculture, international affairs, general agriculture, international affairs, general science/space/technology, administration of justice, and science/space/technology, administration of justice, and general governmentgeneral government
Unit 4: Activity 2: AssignmentUnit 4: Activity 2: Assignment 1 1To be turned inTo be turned in so put on loose-leaf so put on loose-leaf
You are the United States government and your You are the United States government and your job is to decide where your money will go.job is to decide where your money will go.
You have to prioritize the items you just copied You have to prioritize the items you just copied from most important to least important to you. from most important to least important to you.
After you rank these please tell in 3 paragraphs After you rank these please tell in 3 paragraphs why you listed them as you did.why you listed them as you did.
Turn into bin when you are done.Turn into bin when you are done.