Day 16 - 

Economics and US Gov't

Learning Targets:  Students will be able to....

• Describe different political ideologies on the role of government in regulating the marketplace.
• Explain how political ideologies vary on the government’s role in regulating the marketplace.
• Understand how fiscal policy and taxation can shape the economic realities of citizens

Essential Knowledge:

• Liberal ideologies favor more governmental regulation of the marketplace, conservative ideologies favor fewer regulations, and libertarian ideologies favor little or no regulation of the marketplace beyond the protection of property rights and voluntary trade.
• Ideological differences on marketplace regulation are based on different theoretical support, including Keynesian and supply-side positions on monetary and fiscal policies promoted by the president, Congress, and the Federal Reserve.

Opener: Quickwrite

• "Taxation without representation is tyranny"
• James Otis
• "The only certain things in life are death and taxes" 
• Ben Franklin
• “To compel a man to furnish funds for the propagation of ideas he disbelieves and abhors is sinful and tyrannical.” 
• Thomas Jefferson

• Article I of the Constitution gives Congress the power to levy taxes.  Besides raising revenue, what other motives do legislators have to tax a good or service?  Is there anything that government can't tax?

Activity #1: Mini-Lecture - Taxes and Ideology

• If consumers are spending their money, and business is struggling, would it be better for the federal government to lower taxes or just inject more money into the economy?
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• Supply-side economics and "Reaganomics" - Increase production by lowering regulations and taxation on business.  This increases the supply of goods and services (thus lowering the cost to consumers), creates jobs, and company profits "trickle-down" to workers.  This idea is generally favored by Conservatives/Repubicans
• 
  
• Demand-side economics a.k.a Keynsian economics - Government should spend money (create jobs, inject cash) which will encourage consumer spending.  This usually means borrowing, which increases the national debt . However, this increased demand will encourage companies to hire on more workers to meet this increased demand.  This idea is generally favored by Liberals/Democrats

Activity #2: YOU MAKE THE CLAIM!

Below are several documents, graphs, charts, cartoons, etc.  Quickly analyze each and then answer the following prompt using these documents and graphs to support your argument.  Make sure that you make a clear claim, provide a line of reasoning, and support your claim with evidence.

Prompt:  If consumers are not spending their money, and business is struggling, would it be better for the federal government to lower taxes or just inject more money into the economy?

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4.
https://www.thebalance.com/trickle-down-economics-theory-effect-does-it-work-3305572

5. 

Close - Student CPE Presentations