Abstract
An analysis of the current budget deficit and its causes--a slow economy, tremendous spending on the Iraq war and tax cuts. The paper also addresses the economic effect of a deficit on the economy and the desirable and adverse effects caused by a deficit. This essay concludes that spending would be more productive if directed to structural elements of the economy.

From the Paper
"Budget deficits occur when government expenditure is greater than revenue, forcing the government to borrow to meet its requirements. There are many potential economic effects of a deficit; the most apparent is an expansionary effect on the economy caused by injections of money being greater than withdrawals. Fiscal policy, among many other mechanisms is used to manipulate the economy. However, budget deficits should be used as to not adversely affect the economy. The federal budget deficit set the new record of $374 billion in 2003, doubling last year's efforts (Fram). The record deficit has been caused by the slow economy, tremendous spending on the Iraq war and tax cuts for the rich. This indicates that the great America does not know how to balance the checkbook, and certainly does not know how to spend wisely."

Tags:bush, debt, fiscal, iraq, monetary, spending, surplus, tax, tax, trade, war

Abstract
This paper explains that initiating a flat-rate tax would greatly simplify taxation in the United States, thereby freeing up time and capital spending on compliance with tax codes. The author points out that decreases in marginal taxes will increase incentives to produce and will funnel money away from non-economically productive investments designed to minimize taxes. The paper relates that one of the most common criticisms concerning the implementation of a flat tax rate is that it will harm lower-income households, while not greatly affecting higher income Americans.

Table of Contents
Introduction
Support for a Flat Tax
Criticisms of the Flat Tax
Conclusion

From the Paper
"Importantly, the flat tax system is economical and efficient simply as a result of its ease to administer and comply with. A flat tax system reduces the hassles and burdens of compliance to a complex graduated system. This reduces the burden on taxpayer, the tax collector, as well as the accountant. While a flat tax system will ultimately reduce the demand for accountant's and lawyer's services, it will free a large numbers of Americans from time-intensive taxation issues. Higgins argues that a flat tax system will save about two billion hours per year in filling out forms and keeping records. Further, the $200 billion needed to comply with current tax codes will be significantly reduced. As such, these Americans can presumably funnel this extra time into making more money, thus ultimately improving consumer spending and stimulating the economy."

Tags:rich, poor, code, compliance, percentage

Abstract
This paper begins by explaining the difference between a public debt and a federal debt and then takes a look at President Bush's tax-cut policy, the theory behind why it is supposed to help the economy, its effects, and its implications for American citizens and the American economy.

From the Paper
"A debt that has been accumulated by the Federal Government in either its Treasury or in its Financing Bank is referred to as a "Public Debt". The debt could have been incurred by either the selling of "securities" and bonds to the public, or through the borrowing of funds from a Federal account. A public debt can also be defined as the total amount that the Federal Government has accrued due to all its borrowings in the past. (Definition of Public Debt) Federal Debt, on the other hand, can be defined as the total amount of debt that is owed by the Federal Government that is as yet unpaid. A federal debt can consist of both public debt and agency debt. A federal debt is made up of the funds owed to the Treasury, in the form of Treasury Bills, Treasury Notes, and also Treasury Bonds."

Tags:ceiling, limit, congress, borrowed, treasury, federal, government, accrued, funds

Abstract
This paper explains the U.S. Steel tariffs and when and why they were put in place. It presents an argument defending the tariffs, and discusses how these tariffs impact international business and world wide relations for the United States.

From the Paper
"On March 5, 2002, the Bush administration imposed a 30 percent tariff on steel imports over the next three years. The tariffs exclude members of the North American Free Trade Agreement, including Canada and Mexico. Imports from developing nations that account for less than 3 percent of the total for individual steel product lines are also excluded. Duties ranging from 8 percent to 30 percent took effect on March 20, 2002. The tariffs cover flat-rolled steel and other steel product imports from countries including Brazil, South Korea, Japan, Russia, Germany, Turkey, France, China, Australia, and the Netherlands and will remain in place for three years (Bush 2002).
President Bush faced few alternatives to save the nation's beleaguered steel industry. United States trade representative, Robert Zoellick, expressed that the American steel industry was basically up against the wall and that Bush's actions would restore the strength and profitability of the industry. Approximately thirty-one steel companies have filed for bankruptcy since 1998, the year of the Asian financial crisis that prompted a flood of cheap steel into the United States, causing steel prices to tumble to 20 year lows. The Bush administration defended import restrictions as an effort to eliminate some of the 200 million tons of global excess steel-making capacity (Bush 2002). Originally demanding 40 percent tariffs over four years, the U.S. steel makers seem content with the imposed 30 percent over three years. The Bush administration faced strong political pressure to protect the industry from the crushing effects of imports from the political battleground states such as Pennsylvania, Ohio and Illinois (Bush 2002)."

Tags:imports, profitability, crisis, financial, excess, global, restrictions, bankruptcy, exemption, loss

Abstract
This paper takes a close look at the concepts of the flat tax and looks at its possible benefits and potential failings. Although there is a basic format of the flat tax, there are multiple flat tax proposals that have been offered by conservatives. Along with critiquing the basic format, this paper compares and contrasts the different flat tax proposals.

From the Paper
"The United States tax system is in complete disarray. Republicans and Democrats agree that the current tax code is complex, unfair, and costly. The income tax system is so complex; the IRS publishes 480 tax forms and 280 forms to explain the 480 forms (Armey). The main reason the tax system is so complex is because of the special preferences such as deductions and tax credits. Complexity in the current tax system forces Americans to spend 5.4 billion hours complying with the tax code, which is more time than it takes to manufacture every car, truck and van produced in the United States (Armey). Time is not the only thing that is lost with the current tax system; Americans also lose great deal of money complying with the taxes. Resources that are currently wasted on record keeping, filing forms, learning the tax code, litigation, and tax avoidance. The cost of complying with the current tax code totals about $200 billion annually, or $700 for every man, woman, and child in America (Armey 1). The overwhelming consensus that the current tax system is inadequate has ignited the search for tax reform. There are numerous proposals for tax reform; one particular proposal is the idea of a national flat rate income tax. The idea is to replace the current income tax with a single rate that everyone pays."

Tags:reform, income, cost, system

Abstract
This paper provides a thorough definition of NAFTA and proceeds to examine the impact that this agreement has had on the United States. It deals with personal issues such as claims of heightened unemployment as well as national issues such as tax benefits and improved trade.

From the paper:

"On January 1, 1994, the North American Free Trade Agreement (NAFTA) was implement between Canada, Mexico, and the United States. This treaty drops most tariffs by 50% immediately, and dropped to zero by 2009. It is a unique trading agreement between two developed countries and a developing nation on a single continent. After eight years since NAFTA commenced, there are mixed analysis and opinions on whether this treaty is a success. It was designed to provide a free-flow of goods between countries without imputative measures and tariffs being enforced; it was promoted as a means to improve productivity and create jobs in the three countries; and, it was touted as model for further free-trade blocs to be created in the Americas and in other regional markets. After eights, no other free-trade blocs exists, nor has any other free-trade treaties been pursued and/or implemented by the NAFTA partners; and, with a world in a recession, there are two points of views on whether NAFTA has been more damaging than good during at this time, or if NAFTA has prevented further harm through its free-flow of goods."

Tags:tariffs, border, factory, union, strike, politics, lobby, import, export, Canada, Mexico, government, spending

Abstract
This paper argues that, although Canada's Harmonized Sales Tax (HST) is presented as greatly improving Canada recession-ridden economy, the HST is really a tactic to take money from the majority of common consumers to fund the greed of corporate manufacturers, high-class businessmen and politicians. Next, the author presents various writings about the HST and debates their truthfulness from his perspective coming from a low-income family. The paper underscores that the major principal grievance for many Canadian citizens including small business people is that the HST will take away their current savings from certain tax deductions. Quotations and a color illustration are included in the paper.

From the Paper
"My focal reason for the HST to be implemented at this time is the 2010 event. The Olympics will play a big factor in receiving over-flowing revenue from foreign tourists and even domestic sales inflation. There is a current Hotel Room Tax (HRT) present only in B.C., this tax is a current "additional 2% applied to certain communities which will continue to apply until June 30, 2011". So as noted by this, I presume Barbara Gupta was alluding to the community of Whistler when she stated "certain communities". The fact that she also specified that June 30, 2011 is the end date of the HRT brings up some interesting suspicions."

Tags:dishonesty, ignorant, deductions, businesses, arrogant

Abstract
This paper explores the issues and history of corporate taxation. Corporations are taxed at a rate depending on their income. This paper discusses the pros and cons of dropping the corporate tax, the methods which can be used to drop or lower corporate taxes and why. The paper includes charts and statistics concerning corporate taxes.

Table of Contents

I. The Beginning of Corporate Income Tax
II. The 1986 Tax Reform Act
III. How Does Taxes Affect Business
IV. Corporate Tax Rates
V. Decline of the Corporate Income Tax
VI. Why the Wide Range Between State and Corporate Taxes
VII. How Does Corporate Tax Work with Multi-state Manufacturers?
VIII. Does the Corporate Tax Help
IX. Proposals of Corporate Income Tax
X. Need of Stimulus
XI. Future Research Concerning Corporate Taxes
XII. Conclusions
XIII. Works Cited

From the Paper
"Where did the corporate income tax begin? How does it affect our economy? What is the future of the corporate income tax? Will deleting corporate income tax be the answer for the economy? What about cutting part of this tax? How does the corporate income tax help the economy? These are questions that will be answered in this paper as well as how the corporate tax is affecting our economy now.
The Beginning of Corporate Income Tax

"How the corporate tax began is an example of why tax systems can be worse than they should be and how little influence the economic profession has on government policy (Norton 2). Sometimes ideals look great when they are not that sound. Corporate taxes were used during wartime until 1909, when Congress enacted a 1 percent tax on corporation income. The rate increased until 1932 to 12.5 percent when the rate was changed to the progressive rates. Norton stated, "Surtaxes on corporate income were added for "excess profits" during both world wars. The highest peacetime rate, 52.8 percent, was reached in the sixties" (2). "

Tags:corp, taxation, corporations, income, tax, reform, 1986, business, rate, decline, states, multi-state, manufacturers, stimulus

Abstract
The paper examines the federal government's program of subsidies to farmers, and reflects on how that impacts consumer costs. In conclusion, the paper finds that what is needed is not an overhaul of the tax system, but rather a reassignment of priorities in government spending.

From the Paper
"According to ?"Microeconomic Issues Today", American consumers are essentially paying twice for farm goods. Due to government subsidizing to assure farmers receive adequate income and price floors implemented, we pay higher prices. That is, we are paying for the value of the produce and then a portion that helps pay for the subsidy. We also pay in other ways through our tax dollars. We are paying for the employment of individuals who manage such government programs, which are ultimately enabling farmers. If farmers did not have subsidies to rely on they would be required to determine their own level of outputs, prices, etc, on a regular basis."

Tags:taxation, consumer, price, support

Abstract
The paper considers the perspective of students who want a more affordable education and society who will have to pay for subsidies in the form of tax increases or spending cuts. The paper reveals that there is no evidence to suggest that the rising tuition costs through the 1990s and early 21st century turned a significant number of potential students away from post-secondary education. The paper then discusses how students are already benefiting when it comes to investing in post-secondary education, and lower tuition fees in Saskatchewan can only be achieved at the expense of those who cannot afford it. The paper includes several full-color graphs.

Outline:
Introduction
How Does the Price of Tuition Affect Participation in Post-Secondary Education?
How Much Should Society Have to Pay for Post-Secondary Education?
Conclusion

From the Paper
"For decades student interest groups have argued the price of post-secondary education in Canada, and Saskatchewan in particular, is too high. Despite concessions from the provincial government last year, the URSU is once again gearing up for a fight, preparing to launch a new campaign aimed at decreasing the cost of tuition for University of Regina students.
"While campaigns to lower tuition costs are politically popular with the student body, especially those with voices in the Students' Union and The Carillon, these campaigns are, at best, misguided. Students are already getting a great deal when it comes to investing in post-secondary education, and lower tuition fees in Saskatchewan can only be achieved at the expense of those who cannot afford it."

Tags:affordability, tax, post-secondary, education