Respond to the student, needs to be 200 words each. ECON CLASS 1. The Department of Treasury references three specific taxes that affect both consumers and producers and fund the public sector. The first is income tax, which is a tax based on the amount of income that an individual makes, as well as businesses, that are used to fund Federal programs such as unemployment and social security. Second is what is known as a consumption tax. This tax, used by State and Federal government, is for public items such as roads and mass transit systems and, in this example, are taken from gasoline taxes. Third is a property tax, that is paid monthly with a mortgage that assists in funding State public school systems and may include levies when the original property tax is not enough. The effect of higher taxes, specifically income tax, can cause the consumer hesitation to become a homeowner thereby lowering the amount of taxes that the Federal government (the producer) bring in to fund needed public programs. There are things that bring the consumer back into the fold of homeownership by creating incentives, such as deductions in yearly taxes for owning a home and paying interest on a mortgage just to name a few. Consumers also have the “need” (want) to know where their hard earned money is going and it is important for individuals know that “most of the Federal Government's revenue comes from personal income taxes. Other sources of revenue include social security and other insurance taxes and contributions, corporate income taxes, excise taxes” ("Economics of Taxation", 2016). 2. In the U.S., taxes make up the largest source of revenue for the Federal Government. The tax code is extremely complicated and navigating through it can be a challenge for individual taxpayers and businesses alike. Taxes are collected at both the Federal and State levels. At the Federal level you have four major key taxes that are collected. They are Individual Income tax, Social Security tax, Corporate Income tax, and Excise taxes. The United States has a progressive tax system in that the percentage of tax owed by the individual increases as they move up in the tax bracket. The more an individual earns, the more of a percentage that the government taxes. Social Security tax is collected in a manner that is regressive in that the closer the individual gets to reaching the required amount of taxed income, the less their percentage of taxed income becomes. Corporate Income tax differs from individual income tax in that it is often factored on the amount of revenue earned by the business minus the costs. Excise taxes (which are also assessed at the State level) is a tax placed on a specific good before it reaches the consumer. The State collects four major taxes to account for its revenue aside from those monies brought in through revenue from the Federal government and user charges. These taxes include Sales tax, Property tax, Personal Income tax, and Corporate Income tax. For ...

1. Respond to the student, needs to be 200 words each. ECON
CLASS
1.
The Department of Treasury references three specific taxes that
affect both consumers and producers and fund the public sector.
The first is income tax, which is a tax based on the amount of
income that an individual makes, as well as businesses, that are
used to fund Federal programs such as unemployment and social
security. Second is what is known as a consumption tax. This
tax, used by State and Federal government, is for public items
such as roads and mass transit systems and, in this example, are
taken from gasoline taxes. Third is a property tax, that is paid
monthly with a mortgage that assists in funding State public
school systems and may include levies when the original
property tax is not enough.
The effect of higher taxes, specifically income tax, can cause
the consumer hesitation to become a homeowner thereby
lowering the amount of taxes that the Federal government (the
producer) bring in to fund needed public programs. There are
things that bring the consumer back into the fold of
homeownership by creating incentives, such as deductions in
yearly taxes for owning a home and paying interest on a
mortgage just to name a few. Consumers also have the “need”
(want) to know where their hard earned money is going and it is
important for individuals know that “most of the Federal
Government's revenue comes from personal income taxes. Other
sources of revenue include social security and other insurance
taxes and contributions, corporate income taxes, excise taxes”
("Economics of Taxation", 2016).
2. In the U.S., taxes make up the largest source of revenue for
the Federal Government. The tax code is extremely complicated
and navigating through it can be a challenge for individual
taxpayers and businesses alike. Taxes are collected at both the

2. Federal and State levels. At the Federal level you have four
major key taxes that are collected. They are Individual Income
tax, Social Security tax, Corporate Income tax, and Excise
taxes. The United States has a progressive tax system in that the
percentage of tax owed by the individual increases as they move
up in the tax bracket. The more an individual earns, the more of
a percentage that the government taxes. Social Security tax is
collected in a manner that is regressive in that the closer the
individual gets to reaching the required amount of taxed
income, the less their percentage of taxed income becomes.
Corporate Income tax differs from individual income tax in that
it is often factored on the amount of revenue earned by the
business minus the costs. Excise taxes (which are also assessed
at the State level) is a tax placed on a specific good before it
reaches the consumer. The State collects four major taxes to
account for its revenue aside from those monies brought in
through revenue from the Federal government and user charges.
These taxes include Sales tax, Property tax, Personal Income
tax, and Corporate Income tax. For an example of how taxes
have an impact on both producers and consumers we can look to
Sales tax. Sales tax can vary not only by state but by county and
city. This is a percentage taxed on goods and services purchased
from businesses by individuals. Depending on the amount being
taxed, consumers can make decisions within the tax law on how
to make their purchases. For instance, instead of making a
purchase for an item a consumer sees on the department store
shelf, they may turn to an online vendor like Amazon
(something that I've done on many occasions) where their local
tax may not be a factor. They might even drive to a point of sale
in another area where the sales tax is reduced (i.e. buy in the
suburbs as opposed to in the big city). Behaviors like these from
consumers can help or hurt businesses (the producers)
depending on their location and whether they are gaining or
losing customers due to the amount of Sales tax they are forced
to collect. Taxes are important to the Federal and State
governments as they help fund for important government goods

3. such as national defense, local law enforcement, social security,
public education, etc. They are also necessary for paying off the
national debt as often the government spends more than it
collects causing it to borrow in order to achieve its objectives.
It is because of the differing opinions of taxpayers on how the
government should spend as well as the fluctuating deficit that
the subject of taxes is the most politically charged one.
3. The main taxes that the federal government collects are
income taxes, corporate income taxes, Social Security taxes,
and excise taxes. "All U.S. citizens, resident aliens, and most
others who earn income in the United States are required to pay
federal income taxes on all taxable income, including income
earned abroad (Miller 2015 134)." The federal personal income
tax is the most important federal tax and it makes up about 46%
of all federal taxes collected. Corporations must pay a federal
tax on their taxable income, and excise taxes include taxes on
the purchases of gasoline and alcoholic beverages.
The main taxes that the states collect are sales taxes, property
taxes, and personal/corporate income taxes. This biggest
category of taxes collect by local and state governments is
revenue from the federal government. "State government
revenues are spread more evenly across sources, with less
emphasis on taxes based on individual income (Miller 2015
134)."
Taxes can be viewed as a bad thing or a bad thing to the average
consumer/citizen/business. Taxes help to pay for our parks,
schools, libraries, and roads (the list goes on and on). These
are all things that we use and that we value and take for
granted. I work for my mother's small business doing most of
the accounting processes, so I see the amount of taxes that we
pay out every week and quarter. It's very hard for a small, local
business to keep the doors open most months. The payroll taxes
that we pay are astounding and would boggle your mind. As
consumers, we might not like to pay taxes, but it's a definite
necessity and a civic duty.

4. Respond to student 200 words Principle of Marketing class
1. Social class is of huge importance for businesses to
understand. Knowing what prices to market their products will
determine how well a business will succeed. If the business
markets their prices too high for the social class consumers to
purchase then the business will sink quickly. It was interesting
to read that only 1% of the Capitalist class is used to shape the
national economy. I would have thought that number would be
higher. With the way the tax brackets are I can see why the
middle class is the majority of the economic make up. Kind of
sad for those who work so hard at minimum wage to never
really have enough income to relax with. It's also sad to me to
know that 8-9% of the United States is in the underclass
category. I know that some people could potentially get out of
that category but I often wonder about the other individuals that
have issues that keep them from working. I don't think that
disability income is enough for people to pay even a portion of
their bills. Just my thoughts.
2. You have included some great information in your post.
Social class deals with the upper class, middle class, and lower
classes of our economy. All have different levels of jobs,
education, and income. Each class views products and services
differently. Marketers are interested in social classes because
they want to know how and where to market to each class. For
example, Porsche would not be likely to advertise with
billboards in the small farming community in which I live. The
area is mostly working class and middle class. Ford or
Chevrolet would be more likely to market in this area where
they are not wasting their resources. I believe this will also
have something to do with demographics.