Christina Naab

Econ / Personal finance 

Mrs. Weser 

2-27-2014 

This week in Weserville we had to figure out how the government was going to pay for the roads that Walmart had asked for. So the Government of Weserville decided to tax the people of Weservill. Some of us where taxed using proportional tax; meaning that they take the same percentage of income form all taxpayers regardless of income level. I think that this is unfair because even though they are paying the same percentage the amount of they are paying is not the same because the more wealthy people have more money they are paying more then the lower class citizens. Then some of the people where taxed using progressive tax this is when the people with a higher income pay a higher percentage rate of taxation then those who make a low- income earners. this is what we have in the United States, because the tax rate increases as income increases. The last group was was taxed based on the regressive tax this takes a larger percentage of income from people with low incomes than they do from people with high incomes. With the regressive tax, the Percentage of income paid in taxes decreases as income increases. I think that the most fair tax structure is the proportional even though they are not paying the same amount of money they are paying the same percentage. The taxes that the citizens pay to the government are used to pay for the public goods these are the goods and services that are provided by the government such as roads, street lights, and education. and that's what went on in Weservill this week Paying a lot of taxes :/ 

This week in personal finance class we started off the week by getting new jobs. you either got a new job for one of the new businesses coming to Weaservill or you could have kept your old job. or unfortunately for some people because of the new jobs coming in lost their old ones. Only to get a new one later in the week. 

Later in the week we were broken up into two groups people who where for a Walmart coming to Weaservill and those opposed to it. We had a town council  meeting to discuss the benefits and downfalls of a Walmart. It was a long back and forth discussion and after doing some negotiating with Walmart the town council voted on bringing in a Walmart to the town of Weaservill. I agree with this decision even though it is getting rid of  the dandy mini mart we are gaining a larger well known store with out people losing their jobs.

Gas shortage after sandy storm

the article I read was the Gas shortage continues in the areas hit by sandy. the article was written by Aaron Smith. The article states how due to the storm only 40% of the 2,944 Gas stations in New Jersey had power and where operating. The gas stations with power had long lines of people trying to get gas for their generators and many people where turned away when the station ran out of gas. police officers where called to maintain order. due to their being no gas the effects of sandy could cost the economy up to 50 billion dollars because of there was a gas shortage the price increased.This has to do with our economy class because we talked about how if the product is scarce it will cost more money to buy I agree with this because if you have less of something more people will want the product.

http://money.cnn.com/2012/11/02/news/economy/gas-shortage-sandy/index.html

popular airports

the article that I read was posted in the Los Angeles times; written by Dan Weikel. In his article he talks about how the air ports suffer from the economy loss because a lot of people travel for vacation but because the economy is declining people are losing money and don't have the money to spend on vacationing because that is a  luxury and not something they really need. The article talks about how the third most popular airport in Los Angeles lost a lot of international passengers also in the economic decline in 2005. i agree that the airports would suffer from an economic struggle because people don't really have to travel unless they travel for work. most traveling however is done when people going on vacations so if they are not making enough money for the things they want then they cant do them.This ties into class with the conversation we had a bout decision making and choosing over things you want and the things you need

http://articles.latimes.com/keyword/economy

christina naab