10.31.07
Required Reading
Here’s an excellent article from today’s New York Times that explains current taxation issues. For anyone interested in the current taxation debate it is required reading. In addition, click here for a graphic on the leading presidential candidates views on taxes.
Thanks to Professor Mankiw for the pointer.
10.30.07
Speaking of Taxes
As I was saying in class, it’s up to us to choose how we spend our tax dollars. Check out this story from CNN about an attempt to use tax dollars to build a mule museum in Bishop California.
Is this type of pork barrel spending helpful to the economy? What utility do you get from projects like this?
10.29.07
The Tax Policy Center’s take on Rangel’s Tax Proposal
Professor Mankiw provides the following info on his Blog regarding Representative Rangel’s tax proposal.
10.26.07
Taxation
Extra Credit Alert:
Over the next two weeks, we’ll be examining the costs of taxation as well as the design of the tax system in the United States. In class on Friday I asked students to read this article by Professor Greg Mankiw where he argues that wealthy Americans pay their “fair” share of the tax burden (based on Congressional Budget Office data). I also found this article about Representitive Charlie Rangel’s (D-NY) new tax proposal.
As you read, I would like you to consider several questions (read the second article and answer the questions for extra credit):
- Who will bear the tax burden? (Rich, Middle-class, Poor)
- What effect will tax policy have on you?
- How can tax cuts help/hurt the economy?
- What programs will the government need to restrict if we cut taxes?
Also, be sure to complete chapter 8: The Costs of Taxation as you will have a quiz on Tuesday. Enjoy your weekend.
10.24.07
Chapter 7
Be sure to complete chapter 7: Consumer and Producer Surplus for homework. I will quiz you on 10/25.
10.23.07
Ring-Ring Period 3
For Period 3 Only:
If I were you, I would plan on studying this evening. Be prepared to complete the multiple-choice part of the exam and a new free-response question.
Beer Inflation
On the heels of the Molson ad I ran below comes this news: Beer Prices Barrel Higher from USA Today. Can you identify the the main reason for the price increase?
10.22.07
Unit 2 Exam
The Unit 2 exam on issues relating to supply and demand will be tomorrow (10/23). The exam will consist of Twenty-five multiple choice questions and one multi-part free response question. As I mentioned in class, you need to know what factors will shift the supply and demand curves; how to determine elasticity; and how a price ceiling and price floor effect markets.
Be sure you use your textbook, notes, Barron’s study guide, and the on-line resources available to you to prepare for the exam. Good luck.
10.18.07
Practice Free Response
For those of you who were out on 10/18 and my 3rd period class, please download this practice free response question. It is required, if you do not have it on Monday you will not receive credit.
