Income

1

• Income Taxes
• Macro News Chapter 4
• Review the concept of no free lunch (or car) in
  economics
• Discuss why income taxes are collected by the
  U.S. government
• Assess the potential effects of the recent Bush
  tax cuts on the government budget deficit or gap

2

• Macro News September 23, 2004

Oprah Winfrey kicked off more than a TV season
when she gave away 276 new Pontiac G6 sedans on
her show last week. Her headline-grabbing stunt
also launched the domestic auto industry on a
crusade to reclaim credibility in the American
passenger car market.
3

• Macro News September 23, 2004

NEW YORK (CNN/Money) - Leave it to Uncle Sam to
spoil the party.
4

• Macro News September 24 November 23, 2004