Taxes - How Does The Government Spend Money?

The federal government spends tax money on different things, including transportation, education, military and medicare.

• 51% of the money goes for veteran benefits, the military personel housing construction, the development of the new weapons, and the interest in the national debt.


• 17% of the money goes to health insurance programs.


• 16% of the money goes to medicaid. Medicaid pays for medical assistance to people with a certain income.


• 13% of the money goes to the payments for people receving health care and for government projects.

Savings and Debt

Personally I think that if you know how to manage all your expenses you won't get to the point where you don't know where else to get money from. A credit card is not a card you can use to buy all you want or need and never pay it back. I mean you must have money in your bank account, in order to use a credit card because you have to pay it back. If you don't have money then don't use a credit card, so you won't have any debts.

In the article, if the couple would have maneged and calculated all the charges they made, they may not be in this situation. A lot of people get into debt, because they don't calculate the costs of the items they buy. Most of the time, people keep using their credit cards, thinknig that they will pay it in a week or two, when they will be getting their checks, but they don't calculate other expenses they have, so that's how they probably end up with debt. If companies loan you money, ofcourse they charge you. And if you fail to pay it the first time, the charges build up and you will end up paying more with your credit card then if you have paid with your money.

The majority of American people are in debt. Since they are too busy paying off bills, they can't afford saving money. The rest of the people who are not in debt don't save moeny. This problem doesn't only face United States, but also Japan, Germany, Britain, France and Italy.

The saving rates is declining each year that passes by.

Critique of GDP Podcast

I've decided to use jared and mari's podcast
I really liked their podcast, because it caught my attention. Their podcast is not original and that's what makes it unique. Even though the topic wasn't interesting at all, they presented the information in such a way, that made me pay attention.
The information they gave out was pretty informative, even though I already knew the content, they explained it well. The podcast was about 3 minutes and I really liked the pictures, they matched it well with the info, even though, they used some pictures more than once. The podcast is very very creative, I liked how they made a scene of two students, talking about a test and going over the information.

US Trade deficit: getting better?

The New York Time article is discussing the trade deficit of the U.S. The U.S. is decreasing the trade deficit and is coming closer to the large gap that they got themselves into.
A trade deficit is when the value of a nation's imports exceeds the value of its exports. For example if a country has more imports then exports it makes the country loose the profit it makes from exporting.
Since the dollar value is weak, the trade deficit is likely to go down in the future. If the value of the dollar decreases, more companies will tend to produce products here and sell them abroad. The country is selling products such as shovels, engines, cars, poles to foreign countries. By having the value of the dollar less then it used to, it allows production to take place in america and not overseas.

Taxes

FEDERAL GOVERNMENT- Federal Income Tax is one of the most important income taxes. They are taxes put on our earnings and the earnings of companies and corporations (corporate taxes).

STATE GOVERNMENT and LOCAL (city) GOVERNEMTS are personal tax, property and sales.

Americans pay other taxes, such as real state tax, property tax, medicare tax, and sales tax.
Real state tax and property tax are imposed to people who own property. In less words the federal government collects money more on personal income and social insurances.

This money is use usually use to fund war expenses and other things.

"Top Chef" Dreams Crushed

The article "Top Chef" Dreams Crushed, is an article that makes everyone think twice before taking out student loans. I understand that a culinary school is an expensive school since they need all the kitchen utensils and accesories, but $80,000 of student loan is way too much. Some students take out a lot of money for loans because they think that once they finish college they are going to earn a big amount of money, but that's not true, it depends.
I am thinking of taking out student loans, but probably less than $10,000. I can't really predict how much I'll take out, you'll never know until you 're there. What I'm sure about is that I don't want to spend the rest of my life paying back a big sum of money.