Econ class week of Feb 24.

This week we have been studying taxes and the government involvement in the economy. We learned about free riders and public goods supplied by the government. The government uses tax brackets to see how much each person has to pay. The higher income people pay a higher percent than the poor people. This is called a Progressive tax system. We also use Sales tax,personal property tax, and even higher taxes on things like cigarettes to try to prevent people from using them. All of this money goes toward parks,government buildings, roads, and social programs.