Household Taxation

Discussion 1

Respond to the following in a minimum of 175 words

• Discuss how economics plays a vital role in shaping public discussion in the following policy areas:
• Household taxation
• Business taxation
• Import taxation (tariffs)
• Provide several examples of how economics plays a role in policy or public discussion related to your career. Why is understanding economics important for you?

Discussion 2

In response to Janelle and Stephanie posts, compare your classmates’ observations with your own–are there any connections between the way you and your classmates interpret the relevance of art? If your interpretation about the relevance of art differs significantly from one of your classmates’ observations, how do you account for this variance? What can you learn from this?

Janelle post

• What can it teach us about the past? The present? The future?

Paintings have the ability to take us back in time and immerse us in a whole different era. Art teaches us about the cultures of the past, and about how people were feeling, and processing events happening during their time period. Through different pieces of art, we can establish patterns in history and apply them to the present day and towards the future.

• How has art influenced society? How has society influenced art?

Art and society influence each other all the time. An example is a urinal from the Dada movement that was called a Fountain and submitted to an art gallery. The artwork was a result of changing times and the uncertainty of war which caused people to bein perceive things differently. In turn, the urinal completely revolutionized art and gave way to today’s styles in postmodern art.

• How does an awareness of all of this impact your own life?

When I started this course I had already had some experience with analyzing art. My high school history teacher who I had for three years focused deeply on the art of the different time periods. I learned more about the history of art from him than I did in my own art electives. I enjoyed this class because it focused solely on the art aspect. I always had a hard time remembering the sequences and time frames of the art styles of history and this class helped me make those connections between history and art and through it I was able to make more historical connections to the present.

Stephanie post

• What can it teach us about the past? The present? The future?

I feel that studying art can teach us a lot from the past, present, and possible future. It teaches us about previous cultures and the struggles they had to endure. It shows us current perspectives on topics, anything from breastfeeding to war and can show us how, based off current perspective, the shift may be going for the future. It also teaches us lessons so that we have a better understanding of how things came to be and how we can improve things.

• How has art influenced society? How has society influenced art?

Art has influenced how we view ourselves and the world around us. It improves our moods and gives us an appreciation for the small things in life. Think of Bob Ross for a moment. Bob Ross painted landscapes mainly and taught us an appreciation for nature and the happy little trees. He taught us moral lessons while teaching us how to paint. Likewise, society has influenced art and the current values of our society. Whether it is depicting pop culture or used as a medium to effect change (thinking of the domestic violence  Croatian ad “Stand Strong Against Violence”.

• How does an awareness of all of this impact your own life?

I think the awareness and this class has given me a better appreciation for the arts. While I may not figure out the exact meaning of a piece or be able to find comparative pieces easily I can appreciate how it has shaped our society and my life as a result.

Discussion 3

RESPOND TO Sherece, Vanessa, Ryan, and Demetrius post be constructive and professional.

Sherece post

All of these taxes are always going up and down and it really depends on who is in government office at the time. No matter who sits in office everyone sees things differently so when it comes to taxes you will see them going up and down depending on the social occasion. The household taxation has to do with if a person has someone they are claiming on their taxes if they are living in their home or they are finically responsible it may also include a spouse and/or dependents. The meaning of business taxation refers to the taxes that businesses must pay as a normal part of business operations. Whether you are a sole proprietor, partner, part of a limited liability company, or a corporation, your business is responsible for adhering to tax regulations. In some industries, such as mining and insurance, companies will need to pay additional taxes. While businesses pay income tax, property tax, and sales tax, these taxes are not specific to business and are thus not generally considered business taxes. The reality of economic impact is that all taxes are “people taxes,” as they impact people on a personal level.  Our current tax system, for example, favors housing over other types of investment. That differential likely induces overinvestment in housing and reduces economic output and social welfare.

Vanessa post

Economics is the study of how people allocate scarce resources for production, distribution, and consumption, both individually and collectively. Two major types of economics are microeconomics, which focuses on the behavior of individual consumers and producers, and macroeconomics, which examine overall economies on a regional, national, or international scale. A household pays income tax, wealth tax, estate duty, gift tax etc. as direct taxes to the state. Similarly, a household pays several indirect taxes to the government like sales tax, customs duty, VAT etc. also. All these tax revenues are collected for the welfare and development of the economy. The meaning of business taxation refers to the taxes that businesses must pay as a normal part of business operations. Whether you are a sole proprietor, partner, part of a limited liability company, or a corporation, your business is responsible for adhering to tax regulations. Import tariff is a tax imposed on the price of imported goods. The government usually charges tariffs as a percentage of the price of imported goods.

Ryan post

For this discussion topic, ethics and integrity would be the first factors I would apply. On one hand you are wanting what is best for your company. So, in that case you may want to share the insider info you have received about the company who you will be signing a contract with. On the other hand, I feel it unethical to share the info because of the way the information was obtained. Now if struggling company made their financial burdens public knowledge, I feel this would be ok. Then it would be up to the executives of your company to do their due diligence in researching the company before making the commitment. Applying integrity would be doing the right thing, so in this instance I would not share the information with my company. When we are talking about making a large contractual commitment in the business world, I would hope adequate research is done before sealing the deal. The decisions are ultimately up to the executives. I do not see a problem with at least prompting the question of “before signing the contract, have you done all the necessary research of this company?”. Putting it this way is not giving away any insider information, but simply asking a question.

Demetrius post

It would be important to let my company know that the person in charge of this contract from the supplier is an acquaintance of mine as to not only protect my company’s interest, but mine as well. I wouldn’t want anything that could go wrong to reflect negatively on my behalf or have an effect on my friendship as well. This would keep business as business as usual and my personal friendship out of the workplace. It is beneficial to be forth coming about the friendship that exists to prevent any misunderstandings in the near future. Keeping it professional and business friendly is of the utmost importance as well as keeping my business integrity a priority. The bottom line is that I would want to protect my company’s interest and not compromise the business account between the two entities. Being honest and professional is of the utmost importance in this situation to protect my job security as well as theirs. Either way it goes the business account is the priority not my friendship when it comes to the workplace.