Economic Priorities. Federal Government Income Individual Income TaxesCorporate Income Taxes Social...

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Economic Priorities

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Federal Government IncomeIndividual Income Taxes Corporate Income Taxes

Social Insurance Taxes Other: (Estate, gas, Luxury, Excise)

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Income

1. Individual Income

2. Corporate Income

3. Social Insurance

4. Other Items

What percentage of the national income would you like to tax each category?

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Government SpendingDefense Education Interest

Foreign Aid

Other

Social Security

Environment & Conservation

Welfare & Income Security

Health

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Spending

1. Defense2. Education3. Foreign Aid4. Social Security5. Welfare & Income

Security6. Health7. Other8. Environment9. Interest

What percentage of the national income would you like to spend on each category?

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Federal Government IncomeIndividual Income Taxes Corporate Income Taxes

Social Insurance Taxes Other: (Estate, gas, Luxury, Excise)

43%

32% 6%

13%Now add these together? Does it come to 100%? Where does the rest of the $ come from?

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Borrowing!That is 6% of our income we borrow.

That totaled $163 billion in 2007.

When our economy was good!

Why do we borrow, because we spend too much and tax too little

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Government Spending 2007Defense Education Interest

Foreign Aid

Other

Social Security

Environment & Conservation

Welfare & Income Security

Health

23%

1%

1%

3%

7%

9%

13%

21%

22%

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HomeworkCreate a circle graph that illustrates your

income and spending.

Personal 43%

Corprate 13%

Social32%

Other6%

Borrowing6% 2007 Federal Income