Economic policymaking:
1- How can government influence the performance of the nation’s economy?
Fiscal and Monetary policies.
2- Fiscal Policy:
Why is fiscal policy such a politically charged subject?
2-a-Federal revenues: What are the major sources of federal revenues?
Consider the different types of taxes: progressive, regressive, flat, and
consumption taxes.
-Tax policy: Rep. v. Dem: Trickle down and trickle up tax policy: Should
the goal of U.S. tax policy be fairness or economic stimulation? Which tax
system would best achieve your preferred goal?
- Reforming the Tax code: Why is it nearly impossible to reform?
2-b- Federal expenditures: Government spending:
a. Identify the spending priorities of the federal government. SEE :
Center on Budget and Policy Priorities:
http://www.cbpp.org/cms/index.cfm?fa=view&id=1258
b. What is the difference between mandatory and discretionary
spending?
c. Social Policy: What is the difference between contributory and
non-contributory policy? Means and non-means programs: Which
are better funded? Know examples of each.
d. Who gets what from social policy?
See Charts on federal revenues and spending priorities:
http://nationalpriorities.org/en/budget-basics/federal-budget-101/spending/
3- Balancing the Federal budget: the difference between the
national debt and the budget deficit.
a- What are some reasons the government has gone into debt in the past?
How can we determine if these reasons are justifiable?
b- Should government ever go into debt? If so, what are some valid and
invalid reasons for going into debt? If not, why not?
c- Why is it so hard to balance the budget?
Proposals for balancing the budget.