To: Lead Economist Laura
Subject: Voter Victor / Project Part 1
The information provided below is for Voter Victor.
For an understanding of the of the US economic system and how the government is involved, one must have an understanding of what type of economy the U.S. has, the three primary levels of U.S. government city/county, state and federal, what is expected of these governing levels and what must be present to them to support their functions.
The U.S. has a Mixed Economy however due to the limited government involvement, it can be said that the U.S. has what is called a Market Economy. An example of this production of electricity by a coal burning ...view middle of the document...
Otherwise they will be placed on a ballot for voter approval or disapproval. At this level, the voter has the most influence on who speaks for them and what will be done with their tax money.
At the state level, the government provides the following services: Emergency and Security response, Resource allocation, Road building, maintenance, and regulation, Social Services and programs, court systems, educational guidance and many smaller programs. These programs are funded through state income taxes and or sales tax, road, vehicle taxes and federal funding. The voter elects their country representative and governor.
The Federal government is the largest of the governing bodies. It is responsible for national defense, law enforcement against crimes committed across state and federal borders, setting financial regulation, resource allocation and protection, interstate highways and transportation, international policy and diplomacy, constitutional law and interpretation, social security, welfare programs, funding distribution to support state programs, etc. The Federal government is funded through individual income taxes, corporate taxes, payroll taxes, excise taxes and other various means of taxation. At this level, the voter will vote for their state representatives directly but do not vote directly vote for the president and vice president. The president is elected by the Electoral College, meaning that the state representative’s vote for the president usually based upon the popular vote of the state that they represent.
How do these government organizations affect/impact the economy? These government organizations pass laws and regulations that impact the...