Barrier Between Taxation and Spending
Section 1 and 2 introduce government spending and taxation. Much like they are separated in the text when we see legislation go through Congress, we often see spending bills and tax bills that would go through as two separate pieces of legislation. Your task is to:
1. Illustrate this separation of spending and tax revenue with a practical example using either your experiences as an individual with income and expenses or from a firm’s perspective with monthly costs and profits.