1 / 23

Socratic Seminar

Socratic Seminar. Seminar Guidelines: 150 points Grade based on performance and preparation Bring Notes & Come Prepared Each student must have notes—have data for support Notes will be collected If absent during seminar: 3-4 Paper will be the “make-up” assignment. Question # 1.

oleg-mcguire
Télécharger la présentation

Socratic Seminar

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Socratic Seminar • Seminar Guidelines: • 150 points • Grade based on performance and preparation • Bring Notes & Come Prepared • Each student must have notes—have data for support • Notes will be collected • If absent during seminar: • 3-4 Paper will be the “make-up” assignment

  2. Question #1 . 1) Discuss whether President Obama should Make the income tax more progressive Benefits Costs/Risks

  3. Why Raise Taxes? 1) To lower deficit-- 2) Redistribute Income => Rich to Poor 3) To increase Gov’t spending

  4. Raising Taxes on the “Rich”?

  5. The Laffer Curve Potential Impact of Tax increase: An ↑ tax rate => ↑ tax revenues or An ↑ tax rate => ↓tax revenues Tax

  6. GDP GDP ↓ Tax Rates increase too much When are Tax Rates too high? Tax Revenue ↓

  7. #1 Analysis . 1) Discuss whether President Obama should Make the income tax more progressive Benefits Costs/Risks

  8. Question #2 . 1) Discuss some possible solutions to increase the current rate of GDP growth. Benefits Costs/Risks

  9. GDP GDP GDP What creates real economic growth?

  10. #2 Ideas? . 1) Discuss some possible solutions to increase the current rate of GDP growth. Ideas Costs/Risks

  11. Question #3 . 3) Discuss some long term solutions to the Federal Government’s rising national debt. Solutions Risk

  12. Growth of Entitlements 1964 1984 2004* 19% 9% Social Security Medicare & Medicaid Defense All other spending Net interest *Current services estimate. Source: Budget of the United States Government, FY 2005, Office of Management and Budget.

  13. A Demographic “Perfect Storm”

  14. Growth of Entitlements 2011 Entitlement Spending & Interest on Debt 50% of Gov’t Budget 2040? Entitlement Spending & Interest on Debt Over 70% of Gov’t Budget Rep. Ryan versus President Obama proposed changes

  15. #3 Analysis . 3) Discuss some long term solutions to the Federal Government’s rising national debt. Solutions Risk

  16. Question #4 . 3) Discuss whether the Federal Reserve should keep interest rates at zero

  17. Who “wins” with zero percent interest rates? 5.25% 0.0%

  18. Money not Wealth • An increase in money supply does not lead to more wealth Wealth Unchanged MS

  19. Keynes vs. HayekPart 2 Animal Spirits versus Malinvestment • http://www.youtube.com/watch?v=GTQnarzmTOc

  20. Friedrich Hayek • Economist from School of Austrian Economics • Believed in: • Free Markets, • Limited central bank action • artificially low interest rates lead to Malinvestment Friedrich Hayek 1899 - 1992

  21. Quantitative Easing • What is quantitative easing—link below • http://en.wikipedia.org/wiki/Quantitative_easing

  22. Interest Rate MS1 MS2 Affects AD i1 --------- i2 ------------------ MD Qty of $ Economic Situation GDP growth = -1.0%, Unemployment = 10.0% Little to no inflation Solution: Loose Monetary Policy

More Related