Tax rates, Laffer curve, government bonds… and LAF rappers crush it

Posted: April 8, 2014 in Uncategorized

There will doubtless be rigorous debate over what was the true highlight of today class: the section test or the performance by Scarce C-T and the LAF crew.  It’s hard to argue over brass knuckles, a chrome grill, and a quartet of boyz and two girlz from the ‘hood.

Even world-famous hip-hopper need to ace their econ tests

Even world-famous hip-hoppers need to ace their econ tests… shades, grills and all

After the dazzling performance by the world’s only econ rap artists, it was on to more mundane matters: namely, government finance.  We studied the basics of how governments acquire the means to do the things they do.  Taxes, sale of bonds (and notes,  bills and TIPS), sales of goods and services (especially public transit) and, in the case of the feds, the printing press.

Regardless of the means, all government financing methods are incentives for people.  Raise taxes, get less of something,  Lower taxes, get more of it, sez Dr. Sowell.

We powered through a mini-dictionary of related terms including entitlements, deficit, debt, progress and regressive taxes, balanced budget and VAT.

Here’s the PPT from today.  Week 13, April 8

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