I would like the paper to show why a flat tax would be better than the current tax system. I would like it show how it would simplify the process of doing tax returns for individuals as for corporations. The paper should show how the current system is to complex and that no one really understands every thing about it.

I need a research paper on an accounting topic. The topic is
"comparing the united states tax system to other (atleast any 4) countries tax systems." It should be detailed and should have
atleast 10 qoutes or footers.

The paper will be a comprehensive study on why a "pure" flat income tax sytem would be preferable to a progressive income tax system such as the one used in the U.S. The introduction will tell of what it is to come and hypothesize that the flat tax is preferable. It will discuss what a pure flat income tax system would entail and what the current progressive income tax system entails. This would only take at most 4 pages. The meat of the paper will examine the pros and cons of each system and the economic consequences of each, such as the effect on tax revenue, tax evasion, marginal tax rates, gross domestic product, and other relevant economic matters. It will also focus on factors such as fairness, complexity of filing a return, and efficiency. The conclusion will use the information gathered from the above matters and determine that a flat income tax is a preferable method over a progressive income tax.

The paper should be written in Bluebook legal citation with footnotes at the end. 15 to 20 sources should be used, with a mix of primary and secondary. Hall and Rabushka's book The Flat Tax and articles in economic/legal journals are recommended.

Scenario: Your school district is being forced to:


1) Cut full-day kindergarten.

2) Increase class size to 30+ in grades 1??"5.

3) Eliminate an alternative program to prevent high school dropout and so on.

Prepare a persuasive essay to your state (NJ) and/or local legislature advocating for at least one alternative source for generating tax dollars for your district, school, and/or program.

In your essay, discuss:

1. The need for equalization of local, county, and state funding systems.

2. The impact of district power equalization.

3. Be sure to include the characteristics and function of a fair, equitable, and adequate tax system.

* I work for Trenton Public School District in New Jersey (inner city school district)
I will be sending about 4 resources --I have to at least use 3 out of the 4 I send you. You may add any other resources you to choose to use as well-
Thank you
There are faxes for this order.

Goal: Research the concept of an alternate tax system, National Sales Tax and compare this to the current tax code.

Objective: Many feel that the current tax system is both unfair and complex. Some of the richest people in America pay no tax, while a huge share of the tax burden falls on the rest. A mere glance at the tax code confirms that it is far too complex, with volumes of rules that no ordinary person could possibly comprehend. Although the current system gives tax professionals job security, it does lead many to believe that we can move to a more simplified system that would be fairer to them. Based upon your research, determine if an alternate tax system is viable, will provide equity for tax payers, meet social and economic obligations, and if simplicity can be obtained and is a valid argument for change.

Specific Requirements:

Note: You do not need to address Corporate and Excise Tax considerations with this project. This assignment is focused on Individual Income Tax methods.

1. Develop a more comprehensive understanding of [proposed/conceived] alternative federal income tax systems. Compare and contrast your knowledge to the current income tax system and make a determination if one system would have benefits over another.

I encourage you to compare and contrast different theories related to the topic, or different impacts related to socio-economic conditions. You may inform the reader up front what you thought your findings would be. What were your initial thoughts when you heard about the concept of a "flat tax" or "national tax?" Did your thoughts change based on your research?
2. Once a topic has been selected, research the following:
* What alternate tax systems are being considered?
* Is the alternate method simplistic in computation, collection, reporting, etc?
* Is the alternate tax fair? Who defines fairness?
* How would the elimination of current adjustment from AGI, for AGI and credits against Income Tax impact the working poor, middle class, and the wealthy? Who may benefit? Who may pay more?
* Does the proposed alternate plan address social needs or ability to pay?
* Should the tax system be used to address social and economic policies and change? Would an alternate tax prevent what Congress has determined to be societal necessities [saving for retirement, home ownership, charitable giving, etc]? If so, how would this be addressed in an alternate tax system?
* How would an alternate method address the current estate tax system, and accumulation of family wealth? In today's economy should this be a concern?
* Do you see administrative cost savings?
* How does the role of special interest change in an alternate system?
* Should consumption be included in the alternative tax system as a way to manage revenue generation and social behavior? Should the federal government continue to tax, or impose a tax on consumer purchases, use of natural resources, control behavior [sin taxation]?
* What other countries use an alternate method for taxation. Does it work?
* Do you see a more apparent solution than those you have researched? From what you have learned can you suggest a method for taxation that would meet your definition of tax fairness?
3. From the research information obtained:
* Prepare a 3-5 page double spaced typed report on your topic.
* The audience for your report is your classroom as a whole.
* Include information obtained from your research as outlined noted above. Use at least three different sources and to decipher how the sources differ when addressing this complex subject.
* Please be sure to properly introduce your subject matter to the reader. Include the purpose of the report and be aware of the audience reading the report. Do not assume they have knowledge of the topic you have selected for research.
* Include your observations and opinions in balance with the factual information.
* Offer a closing paragraph(s) in order to summarize the presented information and add your perspective.
4. Include a reference page with your report noting sources used. Use APA in-text.
5. For each source cited, give a brief annotation of the source entity. Are they considered conservative, liberal, political party affiliated, etc. How are they funded? This topic is highly subjective, so sources may have bias.

Discuss the possible introduction of a flat tax system in the Czech Republic and look at its possible benefits and potential failings, keeping in mind and using the other Central Europe countries that have adopted a flat tax, e.g. Slovakia, Stonia, Latvia, etc.
The paper should present some cogent argument using research as a means for making a point, but not as an end in and of itself. Descriptive sections of the paper should be used only in the context of the argument being presented.
Suggested sources: Toward Fundamental Tax Reform book; article in The Economist, April 05 issue; Euroativ.com: Flat Tax --> http://www.euractiv.com/Article?tcmuri=tcm:29-136190-16&type=LinksDossier;

Slovakia has it right? An interesting article from the Dec 28th NY Times.

Midterm Exam
Tax Policy


PLEASE DO NOT RESTATE THE QUESTIONS IN YOUR SUBMISSION. In most of these questions, I am looking for your opinion (supported by other material either from the readings or from other sources if you choose) not what somebody else thinks. So be sure that you state your opinion in your answer and also support that opinion. Be sure to use references as appropriate and include a reference list if necessary. I will be checking your submissions for plagiarism so be sure you indicate quotes and provide proper citations. While there are no page minimums or maximums; I would think it would be difficult to answer any of the questions on this exam appropriately in less than a page for each question. More than 2 pages for a question is most likely too much.


1. Should tax policy (all types of taxes included) be used to accomplish goals other than raising revenue goals such as influencing the economy, social policy, etc. Why or why not? Be sure to give examples to support your position.


2. What are the distinctions between a legitimate tax shelter, an abusive tax shelter, and an illegal tax shelter? In your opinion, are tax shelters a good thing for the federal tax system? Why or why not? Be sure to support your answer.


3. What is your opinion of the administrative arm of US tax policy Bureau of Internal Revenue which became the Internal Revenue Service with respect to its functions, its public perception, and its effectiveness both historically and in the modern day? Be sure to support your answer.


4. In your opinion, is fiscal policy an effective tool for the government to use in managing the economy? Why or why not? Be sure to support your position.


5. Which type of tax do you believe is more fair a consumption tax (national sales tax), a flat tax (everyone pays X% - no deductions), or a progressive income tax (similar to our current system)? Why do you believe this? Do you think fairness matters in determining an appropriate tax system? Why or why not. Be sure to support your position.
(please choose the progressive tax)

Writer request: a writer who is faimilar with California's "proposition 13"



An ex-ante analysis of California?s school finance system suggests that it has achieved substantial equity. We have a foundation system that guarantees each district an amount of money (the revenue limit), at a tax rate of one percent of assessed value. The State pays each district the difference between its entitlement and what is raised through the property tax system. Evidence suggests that some 97 percent of the students in the state are located in school districts where general revenue limit revenues are within the Serrano band that today is just over $300 per ADA. Moreover, the state has an extensive categorical grant program that should lead to high levels of vertical equity if the funds are allocated on the basis of need.

Yet, other analyses of California school finance suggest that an ex-post analysis of California?s school finance system leads to the conclusion that there are substantial inequities across the state. The filing of a lawsuit by the ACLU two years ago leads one to suspect that others feel the same way. Moreover, because of California?s low ranking nationally in per pupil spending, many argue that our system does not provide adequate funding for public school children.

What do you think? Does California have an equitable funding system? Also, are the funds available adequate? Or are improvements needed. Draft a 10 page paper defending your point. If you feel the system is acceptable as it currently operates, indicate why and provide evidence. If you feel that the system needs to be changed, indicate why, and provide suggestions as to how it can be done.

A critical element in thinking about reform of California school finance is Proposition 13. Since this is a constitutional amendment which is unlikely to be changed in the near (or even distant) future, you must consider current property tax laws and systems as fixed in your effort to reform the finance system. If you feel Proposition 13 should be repealed or modified, you may suggest what changes should be made, and how they would help improve the system, but you must also offer suggestions as to how the system would be designed under the current Proposition 13 property tax system.

What I am after here is your thinking and critical analysis of the current system given what you learned in class this summer. Any and all options are possible. Be sure to consider equity, adequacy, and if you want, alternative distribution options such as school based funding.

Should be no longer than 15 pages in length including charts, graphs, endnotes, and bibliography. Specifically, the paper is to provide me with an improved United States tax system. The improvement may be at the margins or constitute a complete overhaul of the system. The paper should include a summary, a description of what is good and bad in the current system, and your recommendation for change. The revenues or revenue losses attributable to the tax changes you recommend should be included in it as well, perhaps in the concluding section.

Please consult ?resources for final paper? in the syllabus as the starting point for your research.

You should factor in the various goals of a sound tax system, which include efficiency, simplicity, fairness (horizontal and vertical equity), and the ability to raise revenue, while recognizing that these various aims may conflict with each other. Therefore, your own values (i.e. what you consider important) will play a role in your preferences and proposals. Happily, political realities should not be factored in to your analysis.

Alternatively, you may choose to focus on the tax system of the state of California or that of another country with which you are familiar.

A good paper is one which is well-organized and exhibits good writing skills. This means that there should be no spelling or grammatical errors (including sentence fragments or capitalization errors). In that regard, I highly recommend proofreading your manuscript before turning it in.

You should fully cite all information sources used in this paper. That includes any information gathered from websites. Your research, analysis and writing of this paper should reflect your own work. You should know I take plagiarism seriously and, if you plagiarize, it is grounds for failure of the course and referral to the appropriate academic authorities. A simple rule: if the language is not your own, you need to set it off in quotes and provide attribution.

Focus on:
? Tax Expenditures
? Simplicity
? Fairness
? Efficiency
? Promoting Economic Growth
? Fundamental Reform
o Consumption Tax
o Net Worth Tax
? Incremental Reform

Use this:
The Benefit and the Burden, Bruce Bartlett

Incorporate a lot of graphs and tables into the paper, to get the graphs and tables use this website:
http://www.taxpolicycenter.org/index.cfm

Structure the paper like the examples uploaded.

ACCT 612 RESEARCH PAPER GUIDE

Please thoroughly read the following. This guide will provide you with the information that you need to properly complete your research paper assignment. If you have questions or confusion after reading this guide, please contact the professor immediately.

THE RESEARCH PAPER ASSIGNMENT

For the research paper assignment, you will have the opportunity to research, think about, and write about in great detail one topic from the course. This topic will be of your choosing; just be sure that it fits with this course (Please note: previously submitted papers will not be accepted. The paper for this course must be an original paper). This research paper should be an example of publishable-quality graduate-level writing. It should be free of errors and should be in good APA format and style. Further, the topic should relate to tax jurisprudence (theory or philosophy of tax law) as opposed to the tax research projects, which deal with practice-related tax research scenarios. If you have questions about this distinction, please contact the professor prior to submitting you paper topic.

The paper will be at a minimum 15 pages (including only the body and excluding the reference page and title page for the purposes of counting pages) and should include, at a minimum, 20 distinct scholarly, academic sources. As always, for these sources primary and secondary legal/tax authorities are preferred. If you use other sources, they should be cited; however, these other sources will not count toward your minimum of 20 sources. Failure to follow these two basic and foundational guidelines will lead to a significant reduction in your grade. In addition, please note that 14 pages does not constitute the minimum page length requirement.

The professor, based upon his professional judgment and experience, will grade the paper. As a help to the student, a document entitled Grading Criteria for Research Paper is provided.

SUBMITTING THE ASSIGNMENT

Per the Course Chart, you will complete and submit this project in three parts. There are links in Blackboard that will provide a way for and instructions regarding how you should submit your project parts. The three parts are as follows:

1. Research Paper Topic Submission. (THIS WOULD BE PAGE 1 OF 17) For the first part of this assignment, you will submit a Microsoft Word file containing a one or two paragraph explanation of the topic that you plan to use for your research paper. This must include references to two scholarly, academic sources. This part of the research paper assignment is due at the end of week 3. The paragraph(s) will need to be similar to that of an abstract. In other words, you should not be using first or second person, citations need to be in proper APA format, and do not make statements such as, I wish to write about..., This paper will..., etc. Doing so, will result in a reduction of points.

2. Research Paper Outline. (THIS WOULD BE PAGE 2 OF 17)For the second part of this assignment, you will submit a Microsoft Word file containing a detailed outline of your research paper. This submission should begin with a revised version of the one or two paragraphs submitted in part one. Then, it should be followed by a detailed outline of the research paper. This submission must include references to ten scholarly sources, which may either be shown in a reference section or within the outline and in a reference section. This part of the research paper assignment is due at the end of week 6. An example has been provided below for your review.

3. Research Paper. (THIS WOULD BE THE OTHER 15 PAGES OF 17) For the final part of this assignment, you will submit a Microsoft Word file containing the final research paper. The part of the research paper assignment is due at the end of week 8, and will be submitted via a Turnitin link. I am allowing you to submit your paper to Practice Turnitin link prior to the final official submission, so that you may correct any potential plagiarism issues. If your paper has an originality report of more than 20% you must modify the paper until it is below 20%. You may submit your paper more than once in the Practice Turnitin link. After using the Practice Turnitin link, use the Final Research Paper Turnitin link to submit your final draft. You may only do this once. If the originality report is more than 20% your grade will automatically be zero. Please see below for more information on Turnitin.

Please follow these instructions carefully and contact the professor as soon as possible with questions.


That being said, there are some significant differences. For example, the research paper will be a true scholarly research paper in good and full APA format and style. Accordingly, you will have a title page, an abstract, etc. Further, you will be submitting this paper to the professor as a Word file that you will upload. If you have questions about these or other differences, please contact the professor immediately.

OUTLINE EXAMPLE:
Remember, that in a properly formatted outline, if you have a subcategory of "A", then you should also have a "B", etc. Please note that your outline should be longer than the one provided on the next page, and in more detail. For example, each subheading should have at least one or two sentences associated with it (paragraphs are welcome, but not necessary). Hopefully, the example will provide you with a general idea of what a detailed outline should resemble.
I. Introduction
A. The History of Taxes
B. The History of Taxes in the United States
II. Types of Taxes
A. Progressive Tax
i. Countries that currently operate using a progressive tax system
ii. How effective the tax system is viewed by its citizens
B. Flat Tax
i. Countries that currently operate using a flat tax system
ii. How effective the tax system is viewed by its citizens
C. Other Tax Systems
ii. Countries that use other forms of taxation.
ii. How effective the tax system is viewed by its citizens
III. Conclusion
A. Summary of Findings
B. Recommendations
Again, the outline does not have to be in complete paragraphs, but there should be at least one or two sentences for each subcategory. Ideally, if sentences are done, this will allow you to take those sentences and then make paragraphs, which in turn, will be your paper.
TURNITIN INFORMATION:

Turnitin is often utilized by professors in an attempt to distinguish between the writing of the student and that of the sources being utilized. While it does not catch every plagiarism issue, the database that is utilized by the system contains every article, blog, document submitted to Turnitin, any other document that may be found on the Internet, and most, if not all, documents that have been published. Consequently, it is recommended that students use the free attempt to determine how likely their paper would be considered plagiarized. Once submitted, Turnitin will compare the students paper to its database, and provide it with a score. The lower the score, the less likely the student has plagiarized. Obviously, the higher the score, the more likely that plagiarism has occurred. Students should not submit a paper with a score higher than 20%. If a paper is turned in with a score higher than this, you will get a zero for the paper.

Some leaders in the U.S. Congress have favored the establishment of a national sales tax to replace the federal individual income tax system. Assess the advantages and disadvantages of that proposal. Is this fair to the American people or will it discriminate.

? Revenue Administration and Tax Mix
The major limiting factor in determining the size of a budget in the public sector is the capacity to tax or generate revenue. To compute fiscal capacity, a representative tax system should assess the level of personal income, the value of retail sales, and the value of property. However, there are other areas that governments should focus on when striving to ensure and maintain revenue generation. Diversifying a revenue portfolio is paramount, especially when the economy takes a downturn. In this Application, you will evaluate whether a hypothetical city has an adequately diverse tax mix, and recommend possible actions to improve its tax base.
To prepare for this assignment:
Focus on tax mix and revenue administration.
Focus on the need for achieving a diverse revenue portfolio.
Reflect on the need of governments to achieve a balanced tax mix to ensure revenue generation regardless of external limiting factors.
Think about ways in which a public organization could diversify its tax mix.
Consider the following scenario for use in this Assignment:
The City of Swobodaville, a city in the lower Midwestern states, has not analyzed its tax base for a number of years. A new mayor, elected on a fiscally conservative platform, orders the city manager to conduct such an analysis. The mayor argues that the real tax base has declined in the previous five years. Part of the analysis shows a recent, although small, trend of businesses leaving the city for the suburbs. At the same time, the population is aging. The number of retirees has increased noticeably, but not significantly, in recent years. The analysis reveals that the real tax base has declined slightly in three of the previous five years and increased slightly in the other two years. It also shows that the tax collection rate has fallen off from 95 percent to 93 percent. The city analyzes its position with comparator cities. The following is discovered:
Type of Tax
Personal Income: Comparator: 11%; Swobodaville: 14%
Corporate Income: Comparator: 7%; Swobodaville: 6%
Sales Tax: Comparator: 39%; Swobodaville: 36%
Property Tax: Comparator: 38%; Swobodaville: 36%
Other Taxes/Fees: Comparator: 5%; Swobodaville: 8%
The assignment: (1?2 pages)
Analyze the tax mix of Swobodaville. In your analysis
o Explain whether the different tax types represent a good mix of revenue for the city.
o Describe any actions the city should take regarding its tax base.
o Explain what else you would need to know to conduct a more complete analysis of the tax mix situation in Swobodaville

Government Spending, Taxation, and the National Debt. Please respond to the following:
A)Recommend changes to the American tax system that would have positive effects on the U.S. Economy. Explain your rationale.
B)Discuss how the financial crisis which began in 2008 affected government revenues and expenditures and the most likely impact on future taxpayers. Provide specific examples to support your reasoning.
Social Security and Medicare. Please respond to the following:
C)Discuss which current proposal to save the social security system you prefer the most. Explain your rationale.
D)Describe how you would change the Medicare program to make it financially sound. Be specific, and defend your proposals with economic reasoning.

OPEN TO ALL WRITERS!!!!

Dear Writer:

PLS visit: www.decentschools.org/expert for additional articles on school adequacy and reform. Ex. the article by Orday.

Thanks.
Expansion on order #A1057042, order ID#38233
Writer request: Jennifer L. Jones


Please emphasize that Subject should be statewide, but urban. Please be sure to cover and follow these three areas:
BE SURE TO TELL "WHY" ARE WE DOING THIS..
Equity:
Identify Issues
Argument/explanation
Citations/evidence
Adequacy:
Identify Issues -
Argument/explanation
Citations/evidence
Reform ?V
Prop 13
Reforms -
Argument -
Citations/evidence

The following is the instruction for the paper:


An ex-ante analysis of California??s school finance system suggests that it has achieved substantial equity. We have a foundation system that guarantees each district an amount of money (the revenue limit), at a tax rate of one percent of assessed value. The State pays each district the difference between its entitlement and what is raised through the property tax system. Evidence suggests that some 97 percent of the students in the state are located in school districts where general revenue limit revenues are within the Serrano band that today is just over $300 per ADA. Moreover, the state has an extensive categorical grant program that should lead to high levels of vertical equity if the funds are allocated on the basis of need.

Yet, other analyses of California school finance suggest that an ex-post analysis of California??s school finance system leads to the conclusion that there are substantial inequities across the state. The filing of a lawsuit by the ACLU two years ago leads one to suspect that others feel the same way. Moreover, because of California??s low ranking nationally in per pupil spending, many argue that our system does not provide adequate funding for public school children.

What do you think? Does California have an equitable funding system? Also, are the funds available adequate? Or are improvements needed. Draft an 8-10 page paper defending your point. If you feel the system is acceptable as it currently operates, indicate why and provide evidence. If you feel that the system needs to be changed, indicate why, and provide suggestions as to how it can be done.

A critical element in thinking about reform of California school finance is Proposition 13. Since this is a constitutional amendment which is unlikely to be changed in the near (or even distant) future, you must consider current property tax laws and systems as fixed in your effort to reform the finance system. If you feel Proposition 13 should be repealed or modified, you may suggest what changes should be made, and how they would help improve the system, but you must also offer suggestions as to how the system would be designed under the current Proposition 13 property tax system.

What I am after here is your thinking and critical analysis of the current system. Any and all options are possible. Be sure to consider equity, adequacy, and if you want, alternative distribution options such as school based funding.

Have work incentive programs in US been effective in promoting employment among low income families? Discuss, using budget line analysis and drawing on empirical evidence.
Please read following handout first.
This handout considers a simple model for assessing the effects of taxes on work and savings decisions with heterogeneous individuals.
There are three important aspects to the analysis.
The first is to represent the effects of the tax system (and of reforms to the system) using the budget line diagram. In the no-tax case, the budget constraint is simply a straight line with a slope of the (gross) wage (w) in the labour supply diagram and a slope of one plus the (gross) interest rate (1+r) in the savings diagram, as discussed in lectures 1 and 2. Introducing taxes changes the budget constraint by altering its slope (to the after-tax wage or interest rate) and, in general, by introducing kinks at the thresholds between one tax rate and the next (including the threshold of the zero rate - the personal allowance - and the first non-zero tax rate).
The second is to depict the effects on individual (labour supply or savings) behaviour, reflecting the impact of income and substitution effects. This would include how the changes in the budget constraint lead to income and/or substitution effects.
The third is to describe the heterogeneity of effects on different groups of individuals. This heterogeneity can be captured by assessing how different sets of preferences ? as reflected in the different tangencies between indifference curves and the old and new budget lines ? are associated with different behavioural responses.
Example 1: UK Working Tax Credit, WTC
a. The budget set
The Working Tax Credit (WTC), introduced in April 2003, replaced the Working Families Tax Credit (WFTC), which had been introduced in October 1999. Unlike the WFTC and the Family Credit that preceded it, WTC is also available to individuals without children. Individuals or families with children are now eligible for the new Child Tax Credit, which is not examined here. See HM Treasury (2002) for a more detailed presentation of the new credits and Blundell (2000) for an analysis of the impact of the WFTC and similar work-incentive programmes in other countries.
A simplified version of the changes in the labour supply budget set implied by the Working Tax Credit are shown in the figure below. We consider an individual facing market wage w, non-labour income of E and a fixed cost of working equal to F.
In the absence of the WTC, the budget set (shown by the solid line in the figure below) includes:
1. The point E, where the individual is not working.
2. The initial line segment with slope - w starting from (but not including) the point E-F, representing earnings falling within the personal allowance that are exempt from tax.
3. The second line segment with slope - w (1-.20) representing earnings subject to the 20% rate (?Basic rate?) of tax (we ignore the 10% tax bracket for simplicity).
4. The third line segment with slope - w (1-.4) representing earnings falling into the top tax bracket of 40% (the ?Higher rate?).

With the WTC, the budget set for those eligible for the credit is shown by the dashed line segments:
1. The non-working point E remains the same.
2. At 16 hours (30 hours for individuals without children), individuals become eligible for the WTC and the budget line shifts up vertically as represented by the vertical dashed line segment.
3. The second dashed line segment has slope - w, indicating the region of earnings where no subsidy is paid for additional hours worked, but the credit is not being withdrawn.
4. The third dashed line segment has slope - w(1-0.37), since the credit paid on previous earnings is being withdrawn over this region of earnings (the taper under the WTC is 37% of gross income).
Impact of the UK Working Tax Credit (WTC) on labour supply budget set

b. Budget line analysis with heterogeneous individuals
We can identify six groups of individuals for whom the effects of the WTC are different:
Case (a): Individuals who were not working prior to the reform and whose reservation wage is sufficiently high (indifference curve sufficiently steep) that they do not choose to work after the WTC is introduced either. The labour force participation of these individuals is unchanged (?LFP = 0) and they are unaffected by the reform.
Case (b): Individuals who were not working prior to the reform but who choose to work after the credit B
is introduced. As shown in the figure below, their original (pre-reform) indifference curve (U 0 ) cuts below the new budget line, indicating that they can now achieve a higher utility level by working (?LFP > 0).
Case (c): Individuals who were already working prior to the reform and are on the first kink in the new dashed budget line after the reform. These individuals face offsetting income and substitution effects, implying an ambiguous effect on the hours they choose to work (?H ?). [This case is not shown in the figure.]
Case (d): Individuals who were already working prior to the reform and are on the second dashed segment (where the slope is - w ) after the reform. These individuals experience a pure income effect as a result of the reform, which implies that they work unambiguously less as a result (?H<0). [This case is not shown in the figure.]
Case (e): Individuals who were already working prior to the reform and whose post-reform indifference E
curve (U 1) is tangent to the third dashed segment (where the slope is - w(1-taper) ) after the reform. These individuals experience an income effect and a negative substitution effect as a result of the reform, which implies that they work unambiguously less as a result (?H<0).
Case (f): Individuals who were already working prior to the reform and are on some part of the unchanged budget line (facing the 20% or 40% tax rate) after the reform. These individuals are clearly unaffected by the reform (?H = 0).

Example 2: Individual Savings Accounts (ISAs) for individual savers in the UK (introduced in 1997)
a. The budget set
As shown in the diagrams below, the budget line (in C0, C1 space) is kinked at the point where savings equals ?5,000 (the limit on tax-free savings under ISAs), with a slope of 1+r for 0 < annual savings < ?5,000 and a slope of 1+r(1-t) for annual savings > ?5,000. [One could alternatively take an approximation to the expected cumulative value of ISAs over an individual's working life.] Note that the budget lines in the diagrams overleaf also exhibit a kink where C0 = y0 (S=0), reflecting the higher interest rate faced by borrowers (C0>y0) than by lenders (C0 b. Budget line analysis with heterogeneous individuals
We can identify four groups of individuals for whom the effects of the ISAs are different:
Case (a): Individuals who, following the introduction of ISAs, have annual savings > ?5,000. These
individuals experience a pure income effect as a result of ISAs and this implies that they save LESS
than before (since C0 must be a normal good). [Note, however, that individuals are unambiguously 10
Case (b): Individuals who had savings > 0 before the reform and 0 < annual savings < ?5,000 after the reform. These individuals experience both income and substitution effects and the effect on their savings is ambiguous.
Case (c): Individuals who had zero savings before the reform but positive savings after the reform (the slope of their indifference curve at the zero saving point is steeper than the pre-ISA budget line but less steep than the (no-tax) post-ISA budget line). These individuals experience both income and substitution effects and the latter dominate the former. Hence, their savings increases.
Case (d): Individuals who have zero savings before and after the reform (the slope of their indifference curve is steeper than both pre- and post-ISA budget lines). These individuals experience no income or substitution effects and there is, obviously, no change in their savings. Note that this is the only case in which individuals are not better off as a result of the introduction of ISAs.
Read and Use following link as references;
http://www.nber.org/papers/w5023
http://www.princeton.edu/ceps/workingpapers/165rothstein.pdf (section 1 and 8 only)

Writer Request: Jennifer L. Jones


An ex-ante analysis of California?s school finance system suggests that it has achieved substantial equity. We have a foundation system that guarantees each district an amount of money (the revenue limit), at a tax rate of one percent of assessed value. The State pays each district the difference between its entitlement and what is raised through the property tax system. Evidence suggests that some 97 percent of the students in the state are located in school districts where general revenue limit revenues are within the Serrano band that today is just over $300 per ADA. Moreover, the state has an extensive categorical grant program that should lead to high levels of vertical equity if the funds are allocated on the basis of need.

Yet, other analyses of California school finance suggest that an ex-post analysis of California?s school finance system leads to the conclusion that there are substantial inequities across the state. The filing of a lawsuit by the ACLU two years ago leads one to suspect that others feel the same way. Moreover, because of California?s low ranking nationally in per pupil spending, many argue that our system does not provide adequate funding for public school children.

What do you think? Does California have an equitable funding system? Also, are the funds available adequate? Or are improvements needed. Draft a 10 page paper defending your point. If you feel the system is acceptable as it currently operates, indicate why and provide evidence. If you feel that the system needs to be changed, indicate why, and provide suggestions as to how it can be done.

A critical element in thinking about reform of California school finance is Proposition 13. Since this is a constitutional amendment which is unlikely to be changed in the near (or even distant) future, you must consider current property tax laws and systems as fixed in your effort to reform the finance system. If you feel Proposition 13 should be repealed or modified, you may suggest what changes should be made, and how they would help improve the system, but you must also offer suggestions as to how the system would be designed under the current Proposition 13 property tax system.

What I am after here is your thinking and critical analysis of the current system given what you learned in class this summer. Any and all options are possible. Be sure to consider equity, adequacy, and if you want, alternative distribution options such as school based funding. As always, the paper should be properly referenced and documented.

Expansion on order ID#38280:

Please emphasize that Subject should be statewide, but urban. Please be sure to cover and follow these three areas:
BE SURE TO TELL "WHY" ARE WE DOING THIS..
Equity:
Identify Issues
Argument/explanation
Citations/evidence
Adequacy:
Identify Issues -
Argument/explanation
Citations/evidence
Reform ?
Prop 13
Reforms -
Argument -
Citations/evidence

The following is the instruction for the paper:


An ex-ante analysis of California?s school finance system suggests that it has achieved substantial equity. We have a foundation system that guarantees each district an amount of money (the revenue limit), at a tax rate of one percent of assessed value. The State pays each district the difference between its entitlement and what is raised through the property tax system. Evidence suggests that some 97 percent of the students in the state are located in school districts where general revenue limit revenues are within the Serrano band that today is just over $300 per ADA. Moreover, the state has an extensive categorical grant program that should lead to high levels of vertical equity if the funds are allocated on the basis of need.

Yet, other analyses of California school finance suggest that an ex-post analysis of California?s school finance system leads to the conclusion that there are substantial inequities across the state. The filing of a lawsuit by the ACLU two years ago leads one to suspect that others feel the same way. Moreover, because of California?s low ranking nationally in per pupil spending, many argue that our system does not provide adequate funding for public school children.

What do you think? Does California have an equitable funding system? Also, are the funds available adequate? Or are improvements needed. Draft an 8-10 page paper defending your point. If you feel the system is acceptable as it currently operates, indicate why and provide evidence. If you feel that the system needs to be changed, indicate why, and provide suggestions as to how it can be done.

A critical element in thinking about reform of California school finance is Proposition 13. Since this is a constitutional amendment which is unlikely to be changed in the near (or even distant) future, you must consider current property tax laws and systems as fixed in your effort to reform the finance system. If you feel Proposition 13 should be repealed or modified, you may suggest what changes should be made, and how they would help improve the system, but you must also offer suggestions as to how the system would be designed under the current Proposition 13 property tax system.

What I am after here is your thinking and critical analysis of the current system. Any and all options are possible. Be sure to consider equity, adequacy, and if you want, alternative distribution options such as school based funding.

Revenue Administration and Tax Mix



The major limiting factor in determining the size of a budget in the public sector is the capacity to tax or generate revenue. To compute fiscal capacity, a representative tax system should assess the level of personal income, the value of retail sales, and the value of property. However, there are other areas that governments should focus on when striving to ensure and maintain revenue generation. Diversifying a revenue portfolio is paramount, especially when the economy takes a downturn. In this Application, you will evaluate whether a hypothetical city has an adequately diverse tax mix, and recommend possible actions to improve its tax base.



To prepare for this assignment:



?Review the selected readings from Chapters 7, 8, 9, and 10 in Fiscal Administration: Analysis and Applications for the Public Sector, focusing on tax mix and revenue administration.

?Review this week's course media, "Budget Management Functions: Revenue," and focus on the need for achieving a diverse revenue portfolio.

?Reflect on the need of governments to achieve a balanced tax mix to ensure revenue generation regardless of external limiting factors.

?Think about ways in which a public organization could diversify its tax mix.

?Consider the following scenario for use in this Application:

The City of Swobodaville, a city in the lower Midwestern states, has not analyzed its tax base for a number of years. A new mayor, elected on a fiscally conservative platform, orders the city manager to conduct such an analysis. The mayor argues that the real tax base has declined in the previous five years. Part of the analysis shows a recent, although small, trend of businesses leaving the city for the suburbs. At the same time, the population is aging. The number of retirees has increased noticeably, but not significantly, in recent years. The analysis reveals that the real tax base has declined slightly in three of the previous five years and increased slightly in the other two years. It also shows that the tax collection rate has fallen off from 95 percent to 93 percent. The city analyzes its position with comparator cities. The following is discovered:



Type of Tax

Personal Income: Comparator: 11%; Swobodaville: 14%

Corporate Income: Comparator: 7%; Swobodaville: 6%

Sales Tax: Comparator: 39%; Swobodaville: 36%

Property Tax: Comparator: 38%; Swobodaville: 36%

Other Taxes/Fees: Comparator: 5%; Swobodaville: 8%



The assignment: (1?2 pages)



?Analyze the tax mix of Swobodaville. In your analysis

?Explain whether the different tax types represent a good mix of revenue for the city.

?Describe any actions the city should take regarding its tax base.

?Explain what else you would need to know to conduct a more complete analysis of the tax mix situation in Swobodaville.

Comment: The introduction in the final draft should give a summary of your conclusions after stating your working hypothesis ? which I take it from the last item is that perhaps the strong euro has slowed down export growth and economic expansion for both Spain and Portugal. In general, you seem to lump the two countries together, but I think there are interesting differences in how they have responded to the EU and the euro. Spain, in particular, has had a more restrictive monetary policy before the euro, so the change in monetary policy has not been such a shock to it as it has for Portugal, which ran into difficulties with the Stability and Growth Pact.
Further, Spain has found some interesting investment opportunities in Latin American, especially in the banking sector, which should be analyzed in contrast with Portugal. I like focusing on the changed pattern of trade ? find the Direction of Trade statistics from either eurostat or the OECD or the IMF (I prefer the OECD in general as more complete than eurostat and less confusing than IMF presentations, but you decide which you like best for this paper).

Outline


I. Introduction

A. Overview of Spain and Portugal?s economic history in the last 50 years.
B. Decision to join the European Union
C. Expectations for the futures of each country.

II. Changes in general performance and structural economy of Spain and Portugal prior to and
after joining the EU.

A. Annual Growth Rate before EU and since the EU
B. Change in structure of the economy
D. Export GDP Ratio and Import GDP Ratio
E. Trade within the EU and outside the EU
1. The structure of both countries? exports and imports (commodity structure and
geographical structure).
a. The effects of importing too much from outside the EU. Geographic
distribution of Exports (where do they go)
b. The effects that occur when exporting to U.S and dollar-tied economies
2. In general all of Europe is having a tougher time exporting.

III. The impact the Euros appreciation has had on both economies

A. Appreciation of Euro makes imports of Spain and Portugal from outside cheaper and exports less competitive.
B. Investment Flows
1. Effects on Foreign Direct Investment
a. Two types of investments; receipts and non-official (private)
b. How much is coming from within and outside the EU.

IV. Expectations for the Future
A. Economies more European oriented.
B. Given that both countries have cheaper labor maybe it would be better for
multinational corporations to invest more in them.
C. The richer economies of the EU might want to investment more outside of the EU.
a. Assets in the U.S. are cheaper and might be more attractive than investing in Spain and Portugal.

VIII. Conclusion


Sources

As for sources here are a few sources I found and was hoping to use. One thing that is a requirement for the paper is to use an article from the "Organisation for Economic Co-operation and Development" website.

Baer, Werner & Leite, Antonio (2003). The economy of Portugal within the European Union: 1990-2002. The Quarterly Review of Economics and Finance, 738-752.

Joumard, Isabelle (2002). Tax Systems in European Union Countries. OECD Economic Studies, 34, 92-145.

Martin, Carmela & Herce, Jose & Rivero, Simon & Velazquez, Francisco (2002). European Union Enlargement Effects on the Spanish economy. Economic Studies Series, 27, 21-64.

Neal, Larry & Iglesia-Garcia, Maria (2003). The economy of Spain without & within the EU: 1945-2002. The Quarterly Review of Economics and Finance, 755-772.

Portugal Overview (2003). Portugal Offer. Retrieved February 9, 2005, from http://www.portugaloffer.com/about_us/portugal.html.

Articles using the news and the DeVry Online Library (http://library.devry.edu) [YOUR DS# IS D01660260 and THE PASSWORD IS 197001

Question: What is the "current macroeconomic situation" in the U.S. (e.g. is the U.S. economy currently concerned about unemployment, inflation, recession, etc.)? What fiscal policies and monetary policies would be appropriate at this time?

1. Write your individual answers to the questions listed above together in essay format (minumum of 300 words combined in APA style), using correct economic terms covered in the discussions. If you only write 300 words, you probably won't be able to fully answer the questions. Use the APA Template in Doc Sharing as a guide. You will also find the grading rubric for this assignment in Doc Sharing.

2. Key concepts to include in your paper--data trends on unemployment, inflation, GDP growth, expansionary fiscal policy tools, FOMC, easy money policy tools and other terms from this class.

3. You must use at least one article. Note: The textbook is not an article and cannot be the only source for the assignments. Use the DeVry Library as a resource for finding your references.

Economics terms used in the discussions:
planned investment
investment schedule
aggregate expenditures schedule
equilibrium GDP
leakage
injection
unplanned changes in inventories
net exports
lump sum tax
recessionary ecpenditure gap
inflationary expenditure gap
aggregate demad- agregate supply model
agregate demand
real balances effect
interest rate effect
foreign purchases effect
determination of aggregate demand aggregate supply
immediate short run aggregate supply curve
short run and long run aggregate supply curve
determinants of aggregate supply
productivity
equilibrium price level
equilibrium real output
menu costs
efficiency wages
fiscal policy
council of economic advisers
expansionary fiscal policy
budget surplus
built in stabilizer
progressive tax system
proportional tax system
cyclical deficit
crowding effect
public debt
us securities
external public debt
public investments


Customer is requesting that (Researchpro) completes this order.

I have copy and pasted below a section of the attachments. The directions are very laid out. There is a part where you can pick which topics, and free to choose what you want. Thank you very much. Also on the attachment, there is a section on how it wants to be cited.

Background
On June 26, 2009, the US House of Representatives passed a Carbon Cap and Trade Bill by a narrow 219 - 212 vote. The closeness of the House vote shows how divided the country is on this issue. A Cap and Trade policy is strongly supported by the Obama administration. Meanwhile, the US Senate has delayed a vote on Cap and Trade until sometime this fall.
If it becomes law, Cap and Trade would require that the United States severely reduce its emissions of Carbon Dioxide over the next four decades to a level 83% below what the US emitted in the year 2005 by the year 2050. Of course that would be great if there were no costs involved. However, there is little doubt that this would greatly increase the cost of energy. Those in favor of Cap and Trade generally believe this or similar action must be taken now to avoid or at least reduce the potential harm from human-caused global warming and climate change that will occur if we do not reduce carbon dioxide emissions. Those against Cap and Trade either do not think emission controls are necessary at all (not worried about potential human caused climate change) or that Cap and Trade is too expensive to justify against the possible benefits.
This issue is obviously relevant to all of us. I think it is important to learn about Cap and Trade and personally decide whether or not it is a good plan. Armed with this understanding, we can then discuss our feelings on this issue with our elected representatives and other concerned citizens.


Your assignment is to research the cap and trade concept and write a short term paper, 4 double-spaced pages. Your paper should be written in a way that the general public can easily understand. This is not meant to be a strongly technical or scientific paper. Approach the paper as if you are writing a short article for a non-technical publication, such as a newspaper or magazines like TIME or even Rolling Stone.

The paper should consist of three main sections: an introduction, which clearly describes the basic premise of cap and trade, including the difference between an auction system and a grandfather system (for example, see http://www.grist.org/article/cap-and-trade-another-notion-thats-past-its-use-by-date for definition of grandfather and auction systems) for distributing or assigning carbon credits; the body of the paper, wherein you will choose two or more specific debatable issues concerning cap and trade, describe the pros and cons for the specific issues, then wrap it up by giving your opinion on the issue (a partial list of specific issues is provided in the supplementary information for the term paper available under the homework link on the class web page); and a conclusion, wherein you provide a brief summary of your paper and state whether or not you support a cap and trade policy for the United States. Additional information about each section of the paper is contained in the supplementary information for the term paper. Please read it before you start to write your paper!
In doing your research, you may come across papers that are highly technical and difficult to understand. You do not need to include this material in your paper. You should be able to find plenty of understandable reference material. A simple web search will find thousands of articles and links concerning cap and trade. One issue that you will have to consider while doing research for your paper, especially for internet-only articles, is that the author of an article may be biased. In trying to push a personal agenda, some authors will misrepresent supporting and refuting evidence. You should try to avoid referencing such material.

Requirements and Assessment
Your objectives in writing this paper are to inform the readers about the basics of cap and trade as well as to come to a personal decision about whether or not the United States should enact a cap and trade policy. Your article should be composed of an introduction, body, and conclusion as described above. The individual sections need not be labeled separately.

It should conform to the following requirements:
Paper should have a title
4- 5 pages typed, double-spaced, 12 point font suggested, excluding graphs or charts and bibliography. You are free to include any graphs, tables, or figures that you consider necessary in your paper. These do not count against the page limit. The maximum page limit for text is 5 pages.
Bibliography or list of references cited correctly along with parenthetical citations when needed. In other words you MUST cite references where required. Given that this is a research paper, you should have at least several references in your bibliography. There are no strict formatting rules for in-line citations or the bibliography, however, you MUST reference where required and the reader should be able to easily locate the material listed in the bibliography. A simple format for in-line citations is suggested below. The bibliography does not count against the page limit.
No grammatical or spelling errors. Besides using a spell checker, it is a good idea to have one or more others read over your paper before you turn it in. If necessary, you should work with a writing tutor.

We will use the criteria above in addition to the following to assess your work:
Is the paper easy to understand? Are the basics of cap and trade well described?
Did you discuss two or more specific issues in more detail? Are the pros and cons of each specific issue clearly presented?
Are your opinions clearly stated?
Overall, is the paper well written and laid out? You must use your own words unless you are directly quoting from a reference. Copying phrases directly from reference material without proper citation will be dealt with severely.
You are not graded on the length of your paper (unless it falls outside the 3 5 page range), so dont feel like you must write 5 pages to get a good grade. It is more important that you write your paper well. Dont unnecessarily repeat yourself.

Some additional information about the contents of each section of the term paper is provided below.

Introduction
Clearly describe the basic premise of a cap and trade policy. Explain why proponents favor a cap and trade policy, i.e., what is it supposed to accomplish and how? I also would like you to explain the difference between an auction system for carbon credits (supported by the Obama administration) vs. a grandfather system for distributing carbon credits (utilized in the European Union cap and trade scheme). This is meant to be a simple definition of cap and trade without influence from your personal opinions. You will be able to inject your opinions later in the paper. So even if you are totally opposed to cap and trade, refrain from making cynical statements like the real intent of cap and trade is a huge government expansion of power and control over citizens even if that is what you believe.

Cap and Trade Questions
You should select and focus on 2 4 debatable issues concerning cap and trade. A list of some possible issues is given here. If you think of any others, please let me know and I will add them to this list. You will need to do some research here. I expect that you will find reference material for both sides of the issue. You should clearly define the issue, provide pros and cons relative to enacting a cap and trade policy, and wrap it up by giving your opinion on the issue. The reason I want you to focus on a small number of issues is that cap and trade is somewhat complex in that there are too many individual concerns to try to tackle all of them.

1. Cap and Trade in the United States will not be very effective in reducing worldwide CO2 emissions unless all countries participate, since many energy intensive industries will simply move to a country that des not have a cap and trade policy, particularly China and India. OR- Should we do it anyway either because it is the right thing to do or continue to try to convince them to enact a similar policy.

2. It is important that the United States act quickly before the UN Climate Change summit in Copenhagen this December to send a message to rest of world that we are serious about combating the global warming issue. OR it is better to move slowly on this issue and make sure we do what is best for both the environment and the United States, and not worry so much about what the rest of the world may think.

3. A government run cap and trade system will not work well because of bureaucratic waste, fraud, and corruption. This is common in many government programs. This includes lobbyists who may push for things like extra free emission credits be given to my corporation. OR the government is the only entity that can administer a cap and trade program. We will just have to be watchful for fraud.


4. A cap and trade policy will raise the price (possibly by a large amount) of almost everything since almost everything we buy or do requires energy. OR - We should pay for the environmental damages related to our actions of using energy that produces greenhouse gases.

5. There is so much that we do not understand about the Earths climate and possible human caused climate change that we should not act now or until we know for sure that our actions are or will cause future environmental disasters. OR we know enough now that action is immediately necessary or even if we dont fully understand our climate system, why take the risk? There are many who dont think humans have caused much if any climate change due to CO2 emissions. This in itself is a huge debate: Are human activities causing significant climate change?. Please do not write your entire paper around this issue.

6. Even ardent supporters of CO2 emission reductions admit that even if the United States meets the recently proposed goals of by 2020 emitting 14% less than we did in 2005 and by 2050 emitting 83% less than we did in 2005, the predicted effect (based on climate model projections) on global average temperature would be less than 0.1 C by the end of this century. Some say all this effort and cost increase is not worth the small affect on global average temperatures. OR while US action alone will not be a huge effect it is an important first step for us and important in getting the rest of the world on board with us.

7. The increased costs of energy and goods will most hurt the poor who simply cannot afford any increase in cost of living and therefore cap and trade should not be done. OR everyone should share in somehow paying for potential harm to the environment. Also note that the current versions of a US cap and trade policy have provisions for using some of the revenue to government to help the poor deal with higher energy costs. Maybe you think this is what the government should do.

8. Politicians are incapable of running a hard cap and trade scheme that will work to significantly reduce emissions because once prices go up, individuals, companies, and lobbyists will complain to their elected politicians. Politicians do not like unhappy constituents, so they will make allowances for special interests, which in effect turns the hard cap into a soft cap and emissions are not reduced as originally intended. OR This is just something we will have to trust politicians to administer and not cave in to special interests. Perhaps you believe that some fraud is inevitable, but more important to start an emissions control policy rather than worry about stopping all possible fraud and special interest pandering.

9. Some people think that all we need to do is spend some money and get serious about using renewable energy (like wind and solar) to replace our existing fossil fuel use. However, current solar and wind energy technologies are not capable of replacing the energy we now produce by burning fossil fuel. It is entirely possible that solar and wind will not be able to provide a large part of our energy demands. Thus, if we try to hold fast to future reduction goals, and we are unable to produce enough reliable energy from wind and solar, there may be future energy shortages and/or extremely high energy prices. Bottom line is you cannot just legislate how energy is produced, the technology must be capable of providing the energy demands of the people. OR the technology will surely improve due to the economic incentive to reduce carbon emissions. And it need not be wind and solar, perhaps a currently unidentified method of energy production.

10. The European Union Greenhouse Gas Emission Trading System (EU ETS) began operation in 2005. How has it worked so far? Present good and bad points. Does this tell us anything about the potential effectiveness of a cap and trade policy in the United States?

Conclusion

Here you state whether or not you support a cap and trade policy for the United States or what parts of a cap and trade policy you would support and what parts you would not support. You may want to restate and combine together the opinions you expressed at the end of the subsections you wrote above. Perhaps you would rather support an alternative emission reduction scheme, such as a carbon tax system rather than cap and trade. Or you may believe that no emission controls are necessary.


There are faxes for this order.

A.Relate the findings to these issues from chapters 1-4 as best you can:
I. Chapter 1
-organization of businesses
II. Chapter 2
-balance sheet
-statement of cash flows
Income statement
Statement of cash flows
Accounting income vs. cash flow
MVA and EVA
Federal tax system
III. Chapter 3
Ratio analysis
Du Pont system
Effects of improving ratios
Limitations of ratio analysis
Qualitative factor
IV. Chapter 4
Financial markets
Types of financial institutions
Determinants of interest rates
Yield curves
B. Paper Guidelines:
Find and clip (or download) a recent article in the business press (Wall Street Journal, Business Week, Fortune, Financial Times, business section of the Washington Post, financial news web site, etc) that relates to material studied in Chapters 1, 2, 3, 4. Write a two page paper (typed, double spaced) summarizing the article and explaining how it relates to material in one or more of the chapters. Turn in both your article and the paper.

Grading criteria include: Was the article related well to the textbook material? Were specific sections of the relevant chapters cited? Was the paper coherently written? Was the article summarized included? Was the analysis (relating the article to the text) a major part of the paper or was the paper almost entirely a summary of the article?

It will be easy to find articles. When I was looking for articles to use, I found these on the first couple of pages of the first Wall Street Journal I picked up.

Examples:

1. ?Greenspan Puts His Stamp on Fiscal Policy,? Wall Street Journal, September 28, 2001

This article explains how Federal Reserve Chairman Alan Greenspan has made quick monetary and fiscal policy responses to the terrorist attacks. The Federal Reserve first lowered interest rates by half a percent. Greenspan also advised that Congress wait for economic data to come in before enacting policy changes. He said that any economic stimulus should be large, and he recommended against a capital gains tax cut. Specifically, Greenspan recommended a $100 billion stimulus package, which represents about 1% of gross domestic product. The $100 billion includes amounts already approved, such as $40 billion in emergency spending and $15 billion for airlines.
Greenspan has had a significant impact on Congress, for example, House Minority Leader Richard Gephardt had proposed an immediate economic stimulus package. After Greenspan?s remarks, he decided to wait several weeks.

After summarizing your article you can relate it to material, in this case, in Chapter 5
- Cut in discount rate increases the supply of money could include a few sentences explaining why this is the case)
- Explain how the government?s spending $1 billion will impact interest rates. You could include a diagram of the interest rate supply and demand curves before and after the economic stimulus, showing a new, lower equilibrium interest rate.
- Explain what impact these measures could have on a possible recession, for example, how spending is designed to stimulate the economy.

2. ?United Technologies? Otis, Carrier Units Gain Importance Amid Aviation Crisis,? Wall Street Journal, September 28, 2001

This article explains that jet engines used to be the glamorous product for United Technologies Corp. Now, because of the crisis in the airline industry, elevator and air conditioner production is taking on more importance for the company. Demand for jet engines is down substantially as airlines cut back on service, lay off employees and cancel orders for additional airplanes. United Technologies Corp. includes the Otis Elevator and Carrier air conditioning divisions, where demand is expected to be strong in spite of the economic downturn following the terrorist attacks. United Technologies expects to lay off relatively few employees, and it will continue its plans to make $1 to $2 billion in acquisitions.
The companies revenues are somewhat protected by its diversification out of airplane parts and into non-aviation related areas like elevators and air conditioners. About 90% of the idle aircraft use engines for which United makes spare parts. Even though spare part and maintenance revenues will be down, the company expects increased air conditioning and elevator revenues. During the 1980s, the engine division accounted for 60% of the company?s profits. In 2000 this amount was down to 28% of revenues. Otis Elevator and Carrier air conditioning each brought in 23% of profits, with the remainder coming from United?s Flight Systems division.
United?s stock price was hit hard when trading resumed after the terrorist attacks because it is seen as part of the aerospace sector. On Sept. 17, the company?s stock price fell 28% to $47.50. After dropping as low as $40.10, share price increased to $45.25.

After summarizing the article, you could relate the article to the course material as follows:
- Relate United?s business difficulties to Chapters 2 and 3. You could look at how key ratios could be affected by United?s varying business lines. For example, you could compute a profit margin if business were 60% airline and 40% other and suffered a serious decline, versus being 28% airline and 72% other as is the case today. You could talk about which ratios and balance sheet/income statement items will be affected by the drop in revenues, by the laying off of employees, by the spending on acquiring other businesses, etc.

Tax Equity

Do you pay taxes on goods and services where you reside? If so, do you believe these taxes affect low-income people more than high-income people? How high is your property tax and how does it affect the quality of your public services?such as schools and fire services?as compared to other locations? These questions all relate to tax equity. The taxes governments require for revenue include property, income, sales (on goods and services), and others. Some of these taxes are perceived as unfair or unjust, depending on such things as what is being taxed and who has the heaviest tax burden. In this Discussion, you will evaluate the fairness and equity of two different types of taxes.

To prepare for this assignment:
?
? Focus on government tax structures and the different types of taxes.
? Consider the regressive nature of some taxes.
? Consider the fundamental role of taxation in terms of revenue generation for government organizations.
? Think about income tax structures and whether they seem to fit with your understanding of concepts of equity and fairness.
? Reflect on current tax structures.
With these thoughts in mind:

Write an evaluation of at least two types of taxes (e.g., property, income, sales, etc.) in terms of tax equity. In your evaluation, explain whether you think the taxes are fair and equitable. Also, describe how tax equity coexists with a government's need to collect taxes for revenue.

Be sure to support your postings and responses with specific references to the Resources.

Taxes are a part of fiscal policy and very controversial. Some politicians want to raise taxes for incomes over $250,000, representing the 2% highest incomes, and would also include budget cuts of approximately $4 trillion over the next 10 years. Another proposal wants to lower the maximum tax rate from 35% to 25%, leaving tax rates the same for the other brackets, while also proposing a reduction of total spending by $6 trillion over a 10-year period. Another proposal has advocated a simplification of taxes by eliminating all corporate and individual deductions and estimating this would reduce the deficit by $3 trillion over the next 10 years, plus there would also be reductions in spending equal to another $3 trillion.

What are your thoughts on the three proposals outlined above, and please feel free to suggest anything that you feel should also be considered in reducing the deficit.

Taxes are a part of fiscal policy and very controversial. Some politicians want to raise taxes for incomes over $250,000, representing the 2% highest incomes, and would also include budget cuts of approximately $4 trillion over the next 10 years. Another proposal wants to lower the maximum tax rate from 35% to 25%, leaving tax rates the same for the other brackets, while also proposing a reduction of total spending by $6 trillion over a 10-year period. Another proposal has advocated a simplification of taxes by eliminating all corporate and individual deductions and estimating this would reduce the deficit by $3 trillion over the next 10 years, plus there would also be reductions in spending equal to another $3 trillion.

What are your thoughts on the three proposals outlined above, and please feel free to suggest anything that you feel should also be considered in reducing the deficit.