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Unformatted text preview: Increase consumption tax will increase savings b. Vertical (Progressive, flat, and regressive) b.i. Regressive those with less income pay a higher percentage than those with a higher income b.ii. Progressive is generally the first bit of income is not taxed, next at a low rate, next a bit higher, next even more higher, then a cap rate b.iii. Ex. 0% on first $10,000 10% between $10,001 and 20,000 20% between 20,001 and 60,000 40% on income over $60,000 c. Horizontal (loopholes, policy based initiatives) d. Estate of death taxes d.i. When people die, should what they leave behind be taxed, and at what rate? d.ii. Should Heir deserve the moneys or profits 4. Major Sources of revenue and major expenditures 5. The budget process 6. Types of policy: Distributive, redistributive, and regulatory 7. The policy process 8. Iron Triangles and issue networks 9. Current account balances...
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- Fall '07