Discussion:
1. One-Time Tax Rate
Real estate magnate Donald Trump once proposed a one-time tax of 14.25 percent on the net wealth of every American with more than $10 million. Would this be an efficient way to raise tax revenue? Why or why not? Respond to at least two of your classmates' postings.
2. Social Services Initiatives
Should the Federal Government increase social services initiatives to improve the quality of life issues for the less fortunate ones. (For instance:
1) promoting training/educational assistance initiatives to help the unskilled workers obtain/hold jobs;
2) assist the elderly/homeless with affordable housing:
3) increase health insurance coverage for the poor.)
Secondly, what impact would this have on the federal deficit? Is that a burden we should place on all of the citizenry? Why? Respond to at least two of your classmates' postings.
Reference :Lee, R.D. & Johnson, RW. (2008). Public budgeting systems (8th ed.). Sudbury, MA: Jones and Bartlett. ISBN: 9780763746681
Chapter 4: Budgeting for Revenues: Income Taxes, Payroll Taxes and Property Taxes
Chapter 5: Budgeting for Revenues: Transaction-Based Revenue Sources
Chapter 6: Budget Preparation: The Expenditure Side