Revenue vs. Education in the U.S. and the United Kingdom

I found the average (mean) income to be $43,740, with a standard deviation of $14,640. According to the hypothesis test (see appendix), the calculated test statistic of -3.0236 does fall in the rejection region of z<-1.645 therefore I can reject the null hypothesis and say there is sufficient evidence to indicate µ<50 or $50,000. The p-value of 0.001 (see appendix for data), supports the rejection of the null hypothesis since the p value is less than α=0.05. Based on the confidence interval, we can be 95% certain that the average income lies between $39,680-$47,800.

Tax revenue is the source of funding for public education. Taxes can be progressive or regressive, depending on its impact on the taxpayer. A progressive tax is one in which the tax rate increases as income does. The federal income tax structure is an example of a progressive tax. A Regressive tax is one in which the tax rate is uniform and therefore, the regressive tax takes a larger percentage of available funds from lower-income individuals than from higher-income individuals. Sales tax is an example of a regressive tax.

Education is the foundation of a person’s success and way of life. Graduating from school is important not only for an individual, but it helps the local and national economy. A study by the Alliance for Excellent Education shows that with higher graduation rates among high school students, the economies of cities, states, and of the country would increase (Rollins). Compared to the rest of the world, the United States spends a large amount of money on education (U.S. Education). While many may think this sufficient, Professor Bruce Baker discusses the correlation between supporting schools with federal funding and the success of students, “When schools have more money, they have greater opportunity to spend productively. When they don’t, they can’t” (ii, Baker). If students are to graduate and contribute to the boost of economies, education must be the forefront of federal funding.

A one-way between subjects’ ANOVA was conducted to compare the effect of last wage in Mexico on years of education completed in 0 years, 1-6 years and 7-12 years’ conditions. There was a significant effect found between wages in Mexico and education years completed at the p<.05 level for the three conditions [F(2,12298)=16.28, p=0.000].

Therefore, to further examine the effect of income effect, we set up interaction variables between income and other variables. After t-statistic test, our group found three statistically significant variables. We adjust the model

Later, we will test our hypothesis and perform tests to check for heteroscedasticity, multicollinearity, and serial correlation. For now, we will explain why we chose our variables. We believe each of our independent variables play a significant role in determining the spending per pupil. Unemployment rate affect spending because the state government will often increase education spending when unemployment is high. Unemployment is often linked to lower education level and each state government would most likely want to change that aspect of their community. The best way to do that is to create jobs or increase education. This same logic goes for the independent variables percent of poverty level, and black percentage of population. The percentage

According to Jim O’Sullivan, chief U.S. economist at High Frequency Economics, wages grew a minuscular 2.3% compared to last year’s statistics. In the last two years, O’Sullivan states that millions of jobs have been added to the economy but wages have not followed. Typically, an increase in the number of jobs will result in an increase in wages. March’s wage growth is especially disappointing as wage growth had reached 2.6% last year, only to fall to 2.3% this year.

Education, by far, is one of the most valuable things in a person's’ life. Fortunately, I have always had the privilege of gaining a wonderful education from my local public school district. In addition to gaining a superb education, I have learned to value education. Without gaining a proper education, filled with diversity and knowledge, people lack a mindset which allows them to grow in character and mind. A quality education must be available to all citizens of America, despite socioeconomic standings.

Brown v. Board of Education of Topeka, 347 U.S. 483 (1954), was a landmark decision of the United States Supreme Court that declared state laws establishing separate public schools for black and white students unconstitutional. Though the U.S. Supreme Court declared school desegregation in the 1954 ruling on the famous “Brown v. Board of Education" case, the state of Mississippi did not allow racially or ethnically different students to mix together in schools until 1970, sixteen years after the 1954 Supreme Court ruling, according to the Civil Rights Timeline, created by the Mississippi Humanities Council at Southern Mississippi. Brown v. Board of Education prompted parents

Two different populations will be used for this study. The first will be a sample of 240 people who are having well-paid jobs (annual net income > $ 70,000). The second will be a sample of 240 people who earn no more than $20,000 annually, and most of them did not go any colleges. (Table 1). A series of self-report surveys will be distributed to 400 people who are professors, top managers, doctors, engineers, and 400 people who are getting a minimum wage. All surveys will be distributed through e-mail, and at this point, I will contact different colleges, and companies. Each of them will complete the surveys designed to measure the correlation of parental SES and their current income.

The visual graph for this discussion was about the unemployment rates in 2009 and the weekly earnings in 2009 that were compared to different degrees. The variables that are being compared are unemployment rate, median weekly earnings, and level of the degree the person has obtained. No I don’t believe that this is a fair or an accurate description of the data.

The concept of Opportunity cost encompasses both pecuniary and nonpecuniary aspects of decision making.In the political cartoon, it is evident that the decision maker is the U.S. government and that the deteriorating U.S. Schools suffer the consequences of those decisions.U.S. public schools in their entirety are represented by a degenerate shack. Despite the schools lacking the necessary infrastructure conducive to safely educate American youth, the U.S. government chooses to allocate funds towards new computers to the school.In this scenario, the opportunity cost is improvements to the school’s infrastructure that were marooned in favor of new computers.The U.S could better allocate funds and prevent the situation depicted in the cartoon

where the outcome variable y_iast is college enrollment, defined as one if individual i in the eligibility group a is enrolled in college in state s from year t when the interview is conducted and already graduated from high school; 〖Enact〗_t is a dummy variable for the initial post-reform stage, defined as one if the survey year equals 2011 and zero otherwise; 〖Implement〗_t is a dummy variable for the full implementation of the post-reform stage, defined as one if the survey year falls into 2012-2016 and zero otherwise; 〖Eligibility〗_ais the age eligibility dummy variable, defined as one for the age group 19-25 and zero for the age group 26-30; x_iast is a set of individual control variables including age, gender, marital status, race, ethnicity, high

Recently a number of studies, keeping this theorem in mind have looked into a relationship between the ratio of public to private enrollment and unemployment in cross-sectional as well as in time series data. Part of the full cost of participating in higher education is foregone employment income. In their

The number of graduates living in the UK higher education society has risen over the last few decades. Additionally, the inequality in wage becomes apparent as well as narrowly defined within a qualified group. The proportion of graduates in labour force has increased severely over the last few decades. Various studies has shown that, a significant proportion of the labour force are over educated, than it is actually required for their current job status. Cameron and Heckman (1998) identified that, a significant proportion of people in UK are over educated.