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Government Economy & you

Government Economy & you. The government becomes involved to help keet equality in tact in the USA. 1. Income inequality. Why do some people make more money than others? #1 reason education levels page 516 old book College grad twice as much as high school grad

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Government Economy & you

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  1. Government Economy & you The government becomes involved to help keet equality in tact in the USA.

  2. 1. Income inequality • Why do some people make more money than others? • #1 reason education levels page 516 old book • College grad twice as much as high school grad • Fed government tries to get more to improve ed levels • Free lunches, grants, low interest loans • #2 reason wealth: • Redistribution of wealth (taxes) • #3 reason discrimination • Women & minorities earn less then men • Glass ceiling ideal

  3. Government intervention • Passed several laws to help sitution • Equal Pay Act 1963 • Civil Rights Act 9164 • Americans with Disabilities Act 1990

  4. Povertyvery bottom of income scale • Government intervention • Welfare programs: • Food Stamps: USDA • WIC • Medicaid • Income assistance programs • SSI: Social Security • TANF: Temporary Assistance to Needy Families (limited time) • Workforce programs • Require recipient to work for pay

  5. III. Taxation Policies • Government help poor through taxation • Progressive taxes: tax that increases with income • Regressive taxes: tax that remains the same • Earned income tax credit EITC give tax credits and often cash payments to qualified workers (redistribution of money in USA)

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