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This document explores vital topics in governance and law, including the concept of economic sanctions with examples such as trade cessation for countries with poor human rights records. It addresses historical legal precedents, like Gideon v. Wainwright, which established the right to legal counsel. Additionally, it discusses the U.S. tax system, outlining individual income taxes, corporate taxation, excise taxes, tariffs, and the national debt through government borrowing. This overview is essential for understanding current U.S. legal and economic frameworks.
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Question #20 • Which of these is an example of an economic sanction? • A. Providing poor countries with humanitarian aid • B. Creating trade alliances with bordering countries • C. Refusing to meet with a diplomatic representative of a dictatorship • D. Ending trade with a country that has a poor human rights record
Question #21 • Which of these cases guaranteed an individual’s right to legal counsel? • A. Plessy v. Ferguson • B. Gideon v. Wainwright • C. McCulloch v. Maryland • D. Brown v.Board of Ed of Topeka
Question #22 Sec.2.45 What was the nation’s first constitution after the Revolutionary War? A.The Magna Carta B. The Articles of Confederation C. The Declaration of Independence D. The Bill of Rights
Intro to Taxes: A. Individual income taxes are the government’s largest source of revenue.1.) The income tax is progressive, that is, based on ability to pay2.) April 15 each year is the deadline for filing income tax returns3.) The Internal Revenue Service (IRS) collects taxes during the year through its regional centers B. Corporations, too, pay income taxes in income they earned C. The government collects social insurance taxes paid by both employees and employers to pay for Social Security and Medicare
Intro to Taxes: D. Excise taxes are federal taxes on the manufacture, transportation, sale and consumption of goods like gas, tires, oil, liquor and cigarettes and the performance of services E. Custom duties (tariffs) are placed on goods imported into the US F. The government collects an estate tax on the property and money above a set amount when someone dies
Borrowing for Revenue: A. In addition to collecting taxes, the federal government borrows to raise money by selling bonds, notes and certificates which pays interest B. The accumulated money the government borrows is the national debt