Economics – 12/01/14

I. Bellwork:

• Synthesizing Information R45 1-3 Q&A

II.  Objective:

• Given various scenarios distinguish between progressive, regressive, and proportional taxes
• Cite specific textual evidence to support analysis of primary and secondary sources
• Analyze and discuss the merits of various methods in which governments generate revenue on consumption, income and wealth.

III.  Notebook:

• Pages 251-253
  • Describe Flat Tax and list its advantages (3) and disadvantages (3)
  • Describe Value Added Tax and list its advantages (4) and disadvantages (3)

IV.  Classwork

A.  Regressive Progressive Proportional Exercise

B. Tennessee firefighters watch as home burns

1. Do you believe the firefighters action was justified?  Explain.
2. Develop some alternative policies in which this situation may be avoided.

C.  ARIZONA PROPOSES MEDICAID FAT FEE– WSJ.COM

1. Four Square
2. What principle of taxation does this tax involve?
3. Based upon the criteria for effective taxes (p. 232), do you believe the tax will be effective? Why?

Economics F2014