SAYRE | MORRIS Seventh Edition Fiscal Policy CHAPTER 7 7-1© 2012 McGraw-Hill Ryerson Limited.
Government budget and Taxes. Direct taxes: these take money directly from people’s incomes or from companies’ profits, – Income tax – payable on income.
Learning Objectives: Fiscal Policy LO1: See why the federal government’s budget depends on the rate of taxation, the size of the GDP, and its own spending.
Budget- a plan for managing and spending money. A budget has two parts revenues and expenditures. A budget has two parts revenues and expenditures. Revenue.
12 The Design of the Tax System. What’s in this chapter? How does the US government raise money and what does it do with it? Is our tax system efficient?
Christina Clerk Miles Brooke Blake Weiser. Common Misconceptions “Myths” Steal jobs from American workers Collect an excess of government benefits In.