Pa 581 Final Exam Government Budget and Finance 100% Correct Keller
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PA 581 Final Exam Government Budget and Finance 100% Correct Keller
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1. (TCO A) One of our lectures discusses the budget execution stage of the budget cycle. Please identify and explain each of the major steps in the budget execution process. (Points : 25)
2. (TCO D) Property taxes receive a number of complaints from some taxpayers and many politicians. Please identify at least three of these complaints, and discuss them in detail. Refer to standards such as vertical equity, horizontal equity, and regressiveness as you discuss these complaints. (Points : 25)
3. (TCO C) Quarterly allotments for the appropriation to the State…show more content… Why or why not? Be very specific, using numbers in your answer.
· In principle, could Bev, the major beneficiary, financially "cut deals" with Al and/or Chris so as to ENSURE that they would vote for the project? Using only the numbers given in the project statement as your starting data, specify how this could be done. (Points : 25)
4. (TCO H) List the steps in the capital budget process and explain each of them. (Points : 25)
5. (TCO I) Below is a table showing the income of individuals A and B together with their food and clothing purchases in an untaxed environment (NOTE: K = 1000).
Individual Income Food Clothing
A $20,000 $5,000 $2,000
B $50,000 $8,000 $8,000
Before even considering any particular numbers, define precisely what is meant when we say that a tax system is regressive. Do the same for what is meant by progressive.
Suppose a general sales tax of 5% is applied to all purchases, and purchasing behavior does not change as a result. In consideration of the sum total of ALL sales taxes paid, illustrate why this tax system is regressive.
SHOW ALL WORK IN A SYSTEMATIC FRAMEWORK TO EARN MAXIMUM POINTS.
Hint: Develop a calculation table for analysis.
There is a proposal on the government table to exempt EITHER food OR clothing from the sales tax base. The purpose of this proposal is to seek progressivity rather than regressivity in the sales tax system. Provide a reasoned recommendation supported by calculations as to which