June 27th Class Notes - June 27, 2007 Class Notes: Foreign...

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June 27, 2007 Class Notes: Foreign Debt- $12,000.000 Domestic Debt- $42,000.000 To raise money to pay off debt, you need to raise tariff. (Excise taxes) Many people stated that this sort of tax was regressive. Some people pay more tax as their income is less. Tim Duncan and his gardener both pay taxes. Yet, his gardener pays taxes on 100% of his income and Duncan on 1%. They believed this was the opposite of Robin Hood. You take money from the poor, and it’s only beneficial to rich people. This was Hamilton’s view point. It became later, Reaganomics, and the trickle down theory. George Bush holds this policy. The rich get rich, and then wealth with gradually trickle down to the rest of society. Louisiana Purchase- Acquisition by the United States of approximately 530 million acres (828,000 sq mi or 2,100,000 km²) of French territory in 1803, at the cost of about 3¢ per acre (7¢ per ha); totaling $15 million or 80 million French francs. Including interest, America finally paid $23,213,568 for the Louisiana territory. The purchase was an important moment in the
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This note was uploaded on 04/23/2008 for the course HIST 105 taught by Professor Hightower during the Summer '07 term at Texas A&M University-Galveston.

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June 27th Class Notes - June 27, 2007 Class Notes: Foreign...

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