I would advise to accept the promotion. Even though taking this promotion would bump him up to the next tax bracket, I would reassure my friend that because our tax code is marginalized, “you’ll never take home less than you earn” (Video Engager, 2016).
A marginalized tax code guarantees that you only pay income tax on the amount of money that you make above the tax bracket that you are in. this assures that you will not take home less income because of a higher tax bracket. For example, if you are currently making $47,000 a year and you receive a promotion and receive $49,000 a year, this will bump you up to the next tax bracket. Because of the marginalized tax code of the United States, your taxes will total $5,469 at a 25% tax rate, rather
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67). A major way that the government affects economic activity is through regulation. The government creates regulation guidelines for businesses and enforces them through independent regulatory commissions such as the FTC, the FCC and the FDA (Cochran et al. 45-46). These commissions enforce the guidelines that are outlined in congress in order to ensure safety and fairness among companies in the economy. Other ways that government intervention can affect economic activity is through fiscal policy, which has to do with taxation and monetary policy which is the regulation of inflation, interest and money supply. Though many citizens view government intervention in economic affairs as a negative action, government involvement is responsible for positive impacts that many people do not even consider. For example, from a health perspective, the Food and Drug Administration (FDA) established by the government is responsible for enforcing food and drug safety guidelines. This helps to protect the health of citizens by preventing businesses from “offering unsafe goods” by requiring that “they be produced according to certain safety standards (Cengage 2016). Another positive aspect of government intervention is the role of government in business success. The government supplies businesses with the proper infrastructure, such as “roads, highways and communication systems” (Cengage 2016). I believe that the level of government involvement in the economy that currently exists in the United States is sufficient. Our government is very effective in creating regulations that apply to many different aspects of business and ensure the health of its citizens, as well as occasionally intervening in times of crisis. I do not think that more government involvement is necessary because in the principles of the free enterprise system, the economy is built to be
The Securities & Exchange Commission, for example, was created to regulate wall-street, investing and the stock market in order to prevent another crash. This agency enforced laws that were previously ignored by the investors / companies, a departure from the strictly “laissez-faire” government philosophy of old. Another agency, the FDIC, was created as a response to the many failing banks of the depression. As a secure bank, the FDIC protected its users (and by extension the economy) from ruin by not making risky investments with their money. This commission reflects the government’s increased involvement in government as a result of the New Deal.
Many agencies such as the FDIC, SEC, FDA and the IRS were made to help regulate business and the economy. The result of this is the creation an Active State, which is when the government takes a major
(including uniform allowance for the 1st year) Each year the salary is expected to increase, in the 2nd year the compensation would be about $65,662.39. The higher the rank the higher the pay the individual can anticipate. For a Trooper to receive a promotion he or she must either do one of the following: A) Written Promotional OR B) Oral Promotion. The written promotion is an exam that is off a study list that will be distributed 6 weeks prior to the exam.
Everyone has their own opinion on government, but I have sided with Thomas Jefferson on this discussion on his claim that the government keeps the people safe. I will also add onto his claim by stating that the government is in place just to protect the rights that we possess. Also to make sure that the citizens don't abuse the rights and privileges they are given. Let's say that government didn't exist, and there was a forest. Well you have two different farmers wanting to take the forest for themselves.
This was a big increase in salary from making only a couple
I think that the government has completely failed at its job. I believe that politicians should provide for its citizens in a time of need. Over the past few years, they failed many times at trying to end the Great Depression. The Agricultural Marketing Act, which was an attempt of the government to buy farm products and encourage farmers to cut production, failed terribly when farmers continued to grow crops just to meet their mortgage payments. The Reconstruction Finance Corporation, which was a government organization that gave $1.5 billion dollars to railroads, banks, and corporations,
The government who could control price and supply if there is not a scarcity present. The producers could control how much food enters a market by having control on aspects of production such as growing animals and plants and price if there is a free market in place. Consumers were at the bottom and their way of life was directly influenced by actions of the government and producers. An example of how social hierarchy determined food production is the paternalistic nature of government officials and periods of liberalism that followed in Salvador Brazil. Paternalism government policy is one in which the government interferes with or without citizens approval and is justified in its belief to protect them from harm (the government knows best).
10. Who does what to expand federal framework and regulate public spending? Ever since the drafting of the Constitution, Americans have searched for a balance of responsibilities between the states and the national government, in an effort to create a stronger Union. Recently, Americans have become skeptical of the government; as a result, Americans are more inclined to give greater responsibilities to the states.
For instance, the Chinese Government has intervened in their market failure through allocation of transport, electrical power, etc. They’re 3 main types of government intervention: direct provision, subsidy and regulation intervention, but they all have their limitations, e.g. embezzlement, corruption,
Internet Regulations also decrease the chances of online theft, and help keep fake websites off the internet such as the scam pages that may pop up while using other websites and may also help protect your electronic device from spams. To keep government regulations in place it does cost America quite a bit of money. On average government regulations on the internet cost the U.S up to $55 billion dollars per year. With all the money spent on these regulations it makes it difficult for many business consumers to keep a successful business going while following the regulations which are very specific on what you can and can not
The arguments for government regulation are that it enables more equality among competitors and that it prevents things like trusts or monopolies from being established. It could also prevent wealthy or shady people from exploiting the system and benefiting at the cost of the consumers. It would also help the consumers have a larger choice of products since more people could participate in the production and the market. The arguments against government regulation is that it prevents the economy from thriving because some companies would be able to make it even bigger but they are limited by government regulations. Another reason is that government interference can obstruct the market and cause favoritism or protectionism of certain groups or
Government regulation is the primary intervention that affects the gold industry. Basically, the regulation to mine for minerals/metals requires a permit from several levels of government which often takes quite the time as the permit must process through the different levels. This often delays the time given to mine as well as when and how the miners must go about doing their jobs. This slows the entire industry down for supply because of all the legal factors in mining due to environmental aspects. On top of that, the government does place harmonized sale taxes on gold which can affect the demand of the product as people would rather buy gold for its initial value and not have to pay an additional 13% in taxes for a product as it can be very
Regulations that the government implement, licensing for example, increases the barrier of entry into the market and decreases ways for the traders to gratify consumer demand. This case is prevalent in the monopoly market. The market is sometimes best to decide how much and what to produce since it has better information and knowledge of the consumers compared to the government. Economic decisions may also not be competent when the government is motivated by political power rather than economic imperatives. Sometimes, economic policies are designed to retain power rather than to ensure maximum efficiency in the economy.
• Regulating the economy. • Establishing educational systems. Role of government
Good government is similar to a bank. The good government pays interest on your savings with them, with the understanding that they can use your money