advanced american government. the power to tax fiscal year: october 1 – september 30 ex.—fy...

CHAPTER 16 FINANCING GOVERNMENT CH. 16-1 TAXES Advanced American Government

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 CONSTITUTIONAL LIMITATIONS  Tax laws must follow the Constitution  U.S.A. can’t tax church offering (violates Ist Amendment)  Four Expressed Limits on Direct Taxes  1) Taxes must be levied for public purposes  2) No taxes on items imported from any state  3) direct taxes must be equally distributed amongst the states

TRANSCRIPT

CHAPTER 16 FINANCING GOVERNMENTCH. 16-1 TAXES

Advanced American Government

THE POWER TO TAX

Fiscal Year: October 1 – September 30

Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013

FY 2008—Expenses $2.9 Trillion, Income $2.6 Trillion

Article I, Section 8, Clause 1 “…To lay and collect taxes, duties,

imposts, and excises, to pay the debts and provide for the common defense and general welfare of the United States…”

Page 3: Advanced American Government. THE POWER TO TAX Fiscal Year: October 1 – September 30 Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013 FY 2008—Expenses

CONSTITUTIONAL LIMITATIONS Tax laws must follow the Constitution U.S.A. can’t tax church offering (violates Ist

Amendment) Four Expressed Limits on Direct Taxes 1) Taxes must be levied for public purposes 2) No taxes on items imported from any

state 3) direct taxes must be equally distributed

amongst the states

Page 4: Advanced American Government. THE POWER TO TAX Fiscal Year: October 1 – September 30 Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013 FY 2008—Expenses

Direct taxes must be distributed amongst the states according to population

4) All indirect taxes must be levied at the same rate throughout the country

Federal Government cannot tax States or Local governments that are exercising government functions.

Page 5: Advanced American Government. THE POWER TO TAX Fiscal Year: October 1 – September 30 Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013 FY 2008—Expenses

CURRENT FEDERAL TAXES

Ex.—public education, furnishing healthcare, or building streets and highways

The Income Tax Created by XVIth Amendment (1913) Flexible tax – rates can be adjusted PROGRESSIVE TAX—the higher one’s

income, the higher the tax Levied on individuals and corporations

Page 6: Advanced American Government. THE POWER TO TAX Fiscal Year: October 1 – September 30 Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013 FY 2008—Expenses

The Individual Income Tax 2007--$1 Trillion collected Normally due April 15th

Tax return 2006—6 tax brackets (10% - 35%)

The Corporation Income Tax Most complicated

Page 7: Advanced American Government. THE POWER TO TAX Fiscal Year: October 1 – September 30 Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013 FY 2008—Expenses

Churches and charitable organizations are exempt

Social Insurance Tax 1) Old-Age, Survivors, and Disability

Insurance (OASDI) program (1935) 2) Medicare—health care for the elderly

(added in 1965) 3) Unemployment compensation program

(1935)

Page 8: Advanced American Government. THE POWER TO TAX Fiscal Year: October 1 – September 30 Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013 FY 2008—Expenses

OASDI and Medicare are supported by taxes imposed on businesses and individuals

Businesses and individuals pay 6.2% each of the person’s income

REGRESSIVE TAX—taxes levied at a flat (set) rate no matter what the income level.

Excise Taxes Tax on the manufacture, sale, or consumption

of goods and/or performance of services

Page 9: Advanced American Government. THE POWER TO TAX Fiscal Year: October 1 – September 30 Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013 FY 2008—Expenses

Ex.—gasoline, oil, tires, liquor, telephone, etc.

Estate and Gift Taxes Estate Taxes—tax on assets of

person who dies Gift Tax—imposed on the making of a

gift by a living person

Page 10: Advanced American Government. THE POWER TO TAX Fiscal Year: October 1 – September 30 Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013 FY 2008—Expenses

Customs Duties Taxes laid on goods brought into the

USA Over 30,000 items included Exempt—Bibles, coffee, bananas,

and up to $800 of a tourist’s purchases abroad

Page 11: Advanced American Government. THE POWER TO TAX Fiscal Year: October 1 – September 30 Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013 FY 2008—Expenses

Page 12: Advanced American Government. THE POWER TO TAX Fiscal Year: October 1 – September 30 Ex.—FY 2013 – Oct. 1, 2012-Sept. 30, 2013 FY 2008—Expenses

TAXING FOR NONREVENUE PURPOSES Taxes can be used to discourage

activities that the government thinks is harmful.

Ex.—licenses for drugs, certain firearms, gasoline

THE END

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