Alex G's Econ Blog

Taxes How does the government spend taxes

2007-05-29T10:02:00.000-07:00

Total Outlays (Federal Funds): $2,387 billion
MILITARY: 51% and $1,228 billion
NON-MILITARY: 49% and $1,159 billion

The taxes that are collected by the government is spended on a number of things. First off 51% of the taxes go the the military which is about $1,228 billion. The rest is used for non military purposes like paying of debts the government has,health and human services,parks,jail,education etc. In New York tax money goes to things like transportation, NYPD, industrial purposes,jail,graffiti removal,advertisements, and corporate things like that. In my opinion I think the government is really greedy with their tax money. instead of focusing tax money into the military and war, why not focus all the tax money on education so thousands of high school students don't half to drop out and mess up thier lives, and make college tuition free or at least an affordable price?

Savings and Debt

2007-05-22T09:53:00.000-07:00

Credit cards are evil things. they make a person happy and satisfied for the moment while their buying what they wanted in their dreams, but when that bill comes i smacks you a across the face and takes you out of the dreamland you were in. Most people get into financial debt just becuase of credit cards because credit cards include interest rates which adds additional stress to a situation with finical debt. When i read this article i wasn't surprised because even my mother nags to me that she does not have money because all her salary goes to paying of Debts.

Critique of GDP Podcast (Richard and Ronald)

2007-05-22T09:52:00.001-07:00

The podcast that really caught my attention was Richards and Ronalds blog. It caught my attention from the beginning. the background music they played was very gangsterlicious then they started talking about Gross Domestic Product in a way thye displayed a type of sarcasm. It was very funny and educational to listen to. This is by far the most comical and original podcast i have viewed.

US TRADE DEFICIT: Getting better?

2007-05-21T06:20:00.000-07:00

A trade deficit is a negative balance of trade. The US trade deficit is expected to go down becuase we will have more imports and exports. This has been happening for the past ten years in america. We are exporting more products becuase other countries want our products. this will help increase the gross domestic product of the United States but at the same time this means the the trade deficit will go down.

Taxes - How does the Government get Money?

2007-05-21T05:51:00.000-07:00

There are many different types of taxes. there are direct taxes,indirect taxes,taxes on property, taxes on merchandise etc. A tax is a payment that is required by the law and government. The Taxes are mainly runned by the IRS Internal Revenue Service. The IRS was created by President Lincoln in 1862 to cever the expenses of the civil war.

Student Loans

2007-05-09T06:14:00.000-07:00

Culinary training can cause somje troubles with student loans. Culinary training is more expensive than a regular college becuase the classrooms are small but are equipped with full kitchen supplies including expensive foods. The student loans cost about 80,000$ which is alot of money for a student just graduatiing out of highschool. This high cost for student loans might bring financial troubles in the future to students in the culinary training. When i go to college i would most likely take out the minimum amount of student loans or not any at all becuase i do not want to end up in dept later in my life.

Podcast review (David and Magno)

2007-03-16T06:05:00.000-07:00

http://mmoloneyiths.com/econ/podcasts/fed/magno-david.mov

-David and Magnos podcast does have a thorough explanation of the entire Federal Reserve system. It is clear and understandable enough so that even a teenager can listen to it and learn from the podcast.

-The images provided by David and Magno are great looks like they went to Google and typed federal reserve system. The only thing they could have fixed was to shorten the duration of the pictures and they should've added more pictures.

-I especially like the style of the podcast recording. David and Magno pretended to be on a talk show to explain the Federal Reserve. Along with some relaxing elevator music it made the podcast more interesting and creative. Basically all that I have learned from the Federal Reserve was said by David and Magno because me and Benny did some thorough research ourselves.

compound interest and the rule of 72

2007-03-16T05:56:00.000-07:00

compund interest is whenever interest is calculated. it is not only based on the original principal but also unpaid interest that has been added to the principal. the more that interest is compunded the faster balance grows. the number of years is calculated at a given interest, you can divide the interest rate into 72.

What is insider trading?

2007-03-15T06:18:00.000-07:00

Insider trading is the trading between corporations stocks and other securities, by corporate officials such as officers,directors,or holders of more than ten percent of firm shares. Insider trading is considered to be legal but the term is sometimes claimed as illegal by jurisdictions. All insider trading must be reported in the United States for it to be legal.Legal insider trading may not be based on material non-public information.

blog # 3Opportunity Costs

2007-02-27T06:14:00.000-08:00

Opportunity costs is the cost of something that benefits can recieve from the opportunity

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2007-02-02T06:16:00.000-08:00

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