Free Essay

Ge273 Project Part 5

In:

Submitted By tcuevas74
Words 634
Pages 3
I have research and analysis for Voter Victor need. My findings are as follows. This is how America economy was born; the fledgling thirteen colonies established their independence on ingenuity, the frontier, and support from France and her allies. That is how the United States and her national debt were born, and both have expanded seemingly without limits. However, in the years leading up to America independence there were serious questions about the unsustainability of America’s economic practices developed. Once the world’s leading economic superpower, in the twentieth century America assumed the role of financial capital of the world. As America’s trade deficit continues to increase, much of America’s massive debt is now controlled by China, and a transfer of power seems to be in progress. But even amidst recession, the model of the American Dream is still clinging to life. Whether America and her dream can emerge unscathed in the coming years remain to be seen. It is a complex economic question, and one that cannot be untangled from the global economy. (Conte) phrases What makes America a mixed economy is the economic system in which both the state and private sector direct the economy. Most mixed economies can be described as market economies with strong regulatory oversight, and many mixed economies feature a variety of government-run enterprises and governmental provision of goods. In my opinion because America has several levels of social and economic standing such as the rich and the poor, I must tell you our economy is mixed. As America taxes are put on everything including income. America has many taxes to pay for most if not all government employees and necessary functions. America has local and state tax which paid for the school; sanitation department and street clean up. Property taxes are one of the primary (if not the only) ways for municipalities to raise revenue for community services. As far as the American free enterprise my understanding is that private ownership is their belief system. Private businesses produce most goods and services, and almost two-thirds of the nation's total economic output goes to individuals for personal use. Americans generally believe that an economy characterized by private ownership is likely to operate more efficiently than one with substantial government ownership. With that being state we also consider how much America allow to be private. Americans also believed that some services are better performed by public rather than private enterprise. For instance, in the United States, government is primarily responsible for the administration of justice, education (although there are many private schools and training centers), the road system, social statistical reporting, and national defense. The U.S. economy has changeover the years as the population and the labor force have shifted dramatically away from farms to cities, from fields to factories, and, above all, to service industries. In today's economy, the providers of personal and public services far outnumber producers of agricultural and manufactured goods. As the economy has grown more complex, statistics also reveal over the last century a sharp long-term trend away from self-employment toward working for others In conclusion Victor America in my opinion is the very much the land of the free. America diversity in their economy and the decision on what is private and public products make them a mixed economy. Which simply put makes allows business to grow and gives everyone an opportunity to be economy stable.

Work cited page http://www.randomhistory.com/us-economy-history.html Conte, Christopher. 2001. An Outline of the U.S. E"Property Tax and the Local Autonomy"; M.E. Bell, et al.; 2010
"Property Tax, Land Use, and Land Use Regulation"; Richard Netzer;conomy. Washington D.C.: U.S. Dept. of State, International Information Programs
"Property Taxes (2009-2010)"; Robert W. Maas; 2009

Similar Documents

Premium Essay

Microeconomics

...|Output |Total Fixed Cost | |Barnes & Noble books |-4.00 | |Coca-Cola |-1.22 | |Cigarettes |-0.25 | |Beer |-0.23 | |Gasoline |-0.06 | In your project, address the following questions: Using the elasticity estimates in the table above, classify the price elasticity demand as elastic or inelastic. Explain your reasoning. Explain the implications of those classifications on tax revenue collections when the per-unit tax increases as opposed to decreases. Using those classifications, make some assumptions regarding tax incidence. For instance, will buyers or sellers pay a larger portion of the tax per unit? Explain. Conclude, based on the elasticity classifications, their effect on tax revenue and tax incidence, and which goods the government would prefer to tax. Project Part 2 Introduction: Suppose that the U.S. currently buys and produces wingdings, a fictitious economic good. The U.S. faces the world price, and domestic suppliers sell as...

Words: 1770 - Pages: 8