How do Economic problems affect us? Why should we care? (Inflation (Your…
How do Economic problems affect us? Why should we care?
money is worth less
Inflation rate in the U.S. is
$14 in today's money is worth $1 back in 1920.
more money and more hard work to buy less things.
Equal Pay/ Fair Pay
Unequal Pay based on ethnicity, race, gender, etc.
Cab Drivers in Cuba payed more than doctors
On Average, men with a 4 year college degree make an annual salary of $83,000 per year, while the average woman with a 4 year college degree makes an annual salary of $61,000
Monopolies/ Big Buisness
in 2018, Amazon paid
in federal income tax on more than
11 billion in profits
. Actually RECEIVING $128 million from the federal government in tax rebates.
ways to avoid paying taxes that others pay.
One in every 6 dollars owed in Federal Taxes is not payed.
Monopolies are an important issue in the 2020 presidential campaign and even took the center stage at the first of last week's Democratic debates, with Elizabeth Warren pronouncing early on that she wanted to return government to the people.
Regarding Health Care, In one example, two corporations, Fresenius Medical Care and DaVita, control a 92% market share in dialysis centers, a $24.4 billion industry.
Monopolies are Destroying the American Dream
about 20% fail in their first year, and about 50% of small businesses fail in their fifth year.
Married couples pay more taxes than single couples living together
make a lot of money, you're taxed even higher, upwards of 37%
In 2017, the top 10 percent of income earners earned 47 percent of all income and paid 70 percent of all federal income taxes.
The federal minimum wage is $7.50 per hour as of 2015. Based on a 40-hour work week, this works out to an annual salary of $15,600. As of 2015 this would mean that a single filer would be paying 10 percent federal income tax on the first $9,075 and 15 percent on the remaining $6,525. That would mean paying $1,886.25 in federal taxes before deductions.
Meaning a minimum wage worker, who's already earning so little is essentially working a month and a half for the federal government.
(Federal Income Tax): It damages the economy. Income taxes are levied on work, savings, and investments. In essence, the government grows by taking money from what makes the economy grow.