Thursday, November 2, 2017 and Friday 11/3
E2 INDIVIDUALS AND BUSINESSES IN FREE MARKETS: Free enterprise is a pillar of the United States economy and is based on the principle that individuals and businesses are free to make their own economic choices as they participate
in these markets. Individuals buy the goods and services that they desire from businesses in the product markets, and they contribute to producing these goods and services by supplying the resources that they own to businesses in the markets. This activity is the basis of our private economy, and our governmental spending programs.
CAREER MOMENT: One Day at a Time!
Cartoon about the Federal Reserve from a century ago: Would this cartoon eventually prove accurate?
Federal Reserve Districts
Graphic of modern ACH system
Essential Questions:
Do taxes hinder or promote productive behavior?
What do you think is an acceptable rate of taxation?
Consider the following:
Say you had a job that paid you hourly. You had to work 40 hours a week at this job, but COULD work an extra 10 hours a week if you wanted. The extra 10 hours a week caused you to make enough money to have your income taxed at 25% instead of 15%. One day you wake up to find that Congress had raised the tax rates such that the extra 10 hours a week would now be taxed at 40% instead of 25%. What would be your response? Would you keep working the extra 10 hours a week?
Laffer Graphic
Laffer Curve part 1
Laffer Curve part 2
Dr. Sowell on The Great Con
Article on New Fed Chair
in these markets. Individuals buy the goods and services that they desire from businesses in the product markets, and they contribute to producing these goods and services by supplying the resources that they own to businesses in the markets. This activity is the basis of our private economy, and our governmental spending programs.
CAREER MOMENT: One Day at a Time!
Cartoon about the Federal Reserve from a century ago: Would this cartoon eventually prove accurate?
Federal Reserve Districts
Graphic of modern ACH system
Essential Questions:
Do taxes hinder or promote productive behavior?
What do you think is an acceptable rate of taxation?
Consider the following:
Say you had a job that paid you hourly. You had to work 40 hours a week at this job, but COULD work an extra 10 hours a week if you wanted. The extra 10 hours a week caused you to make enough money to have your income taxed at 25% instead of 15%. One day you wake up to find that Congress had raised the tax rates such that the extra 10 hours a week would now be taxed at 40% instead of 25%. What would be your response? Would you keep working the extra 10 hours a week?
Laffer Graphic
Laffer Curve part 1
Laffer Curve part 2
Dr. Sowell on The Great Con
Article on New Fed Chair
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