Global Economy Fiscal Policies in US

The meaning of Fiscal Policy Fiscal policy refers to the use of government revenue and expenditure to influence the economy. It relates to development guidelines where all welfare projects have to be completed. Essentially, fiscal policies influence macroeconomic activities by balancing tax and public spending.Advertising We will write a custom essay sample on Global Economy: Fiscal Policies in US specifically for you for only $16.05 $11/page Learn More Two examples of these fiscal policies include taxation and government expenditure, which aim at funding development functions, as well as, enhancing equality. Such policies curb inflation, and in the end increase employment and maintain the value of money (Perry 2008). In addition, proper fiscal policies determine the pace of the country’s economic growth. However, should there be a lack of restraint to the economic growth money will soak the market thereby leading inflation. Instrument of fiscal p olicies Taxation policies are the main government techniques for influencing the economy, as well as a weapon for saving a collapsing economy. The government uses taxation and spending to influence economic activities by increasing and reducing it. Taxation is the main source of income for the government. The most common method of taxation is direct taxation. Other forms of taxation include personal taxes, value added tax, fees levied on licenses and permits, as well as, fines. The introduction of tax cuts helps in stimulating aggregate demand (Krug 2011, 34-5). If the government increases taxes, the public will be heavily burdened, which will reduce their production and purchasing power. On the other hand, if the government decreases taxes, money supply will be high. This will then lead to high inflation. A reduction in taxes will increase disposable income and households will end up consuming the money that should have been taxed. An increase in taxes will also affect businesses. It will lower the profit margin and hence lead to an increase in production. Increased production will increase the demand for raw material and laborers. Therefore, there will be an increase in employment and the money earned will increase the level of income in the economy. There is the need to analyze taxation policy in order to avoid inflationary tendencies. Additionally, it is the mandate of all policy makers to use the power vested in them by the state to maintain a stable economy. This is because stability centres on the kind of macroeconomic policies made.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Another tool used by the government as fiscal policy is government expenditure, which are recurrent and development. Various development expenditures include opening education institution, building and maintaining infrastructure. On the other hand, recurrent expenditure involves payin g salaries to the civil service and employing a new workforce. An increase in the government expenditure goes to economic development, paying wages and salary, which involves changing the budget. Investing in infrastructure development requires skilled and casual labourers to complete the projects. This creates direct employment opportunities for the people involved in construction work and other indirect opportunities for those supplying services and logistics to the building process. The employed citizens, either directly or indirectly, earn wages and salaries, which increase their ability to purchase goods, and hence an increase in aggregated demand. In addition, the government can increase spending on education hence increase the skills and knowledge of its citizens. In the end, government will increase the employment to its people. Deficit financing policy is another example of fiscal policy, although not popular. This happens when the government expenditure is more than its re venue; the deficit can be filled when and if the central bank decides to issue new currency (Baumol Blinder 1994). It will reduce the purchasing power of the masses hence inflation and in the end, the value of currency will increase. The government can opt for domestic borrowing as a solution when it feels that deficit financing is insufficient. This is by issuing government securities and bonds; however, it will increase the cost of budget in the form of interest. Fiscal policies, if not sustained carefully, increases inflation and the rate of unemployment. The fiscal policy stance in the 2011-2012 Federal Budget The government implemented the contractionary fiscal policy by spending lower than the tax revenue. This is usually because of the pay down of government debt, which saw the 2011/2012 budget with many significant cuts. This is an indication that the government is using fiscal policies as a means of stimulating growth. This policy affected the dependent spouse tax as a bud getary component thus stimulates aggregate demand. This move will save the government an amount of $755 million (Australian budget services, 2011). Additionally, $1.1 will be saved by raising the public sector dividends and a further $470 by scrapping off low income tax offset. Businesses have not been spared, since those with a turnover of $2 million and below are written off on any motor purchases.Advertising We will write a custom essay sample on Global Economy: Fiscal Policies in US specifically for you for only $16.05 $11/page Learn More There is a noted increase in spending on the health and education sectors. Notably, the government will offset this by executing sharp cuts on defense expenditure in order to enhance operational competence in the communal service. In addition, other measures will affect natural disaster expenditure ($1.2bn this year), and the flood levee (raising $1.5bn). The government’s transfer payment policy such as une mployment benefits, social security funds to the elderly, and payments made to the poor had cuts. Consequently, reducing the transfer payment will reduce the amount of disposable income to those involved. Suitability of the Australian government’s fiscal policy stance By reducing the government’s expenditure, the banks will be willing to lend to the government because of the increase in liquidity. This will reduce the yearly government debt, consequently reducing the total public sector debt. Arguably, cutting government expenditure will reduce borrowing, which is dangerous and can downgrade the bond market. Notably, current research points out that one-dollar of tax cuts can increase G.D.P by $3, compared to a supplementary dollar of government expenditure increasing GDP by $1.40. Reducing government expenditure also reduces the level of inflation, because little money remains in circulation (Russell Heathfield 1999). Introducing infrastructure tax benefits is also j ustified and appropriate. The government cut on the infrastructure can affect productive capacity in the end. Notably, introduction of the benefits has opened the opportunity for private investors willing to invest in infrastructure development to proceed. This will ensure improved infrastructure, which will lead to increased business activities. Increasing expenditure on health and education has increased the skills and knowledge on its citizen. Essentially, this will increase the employment to the people, as well as their disposable income (Symes 1995). Increasing government expenditure will bolster economic growth by increasing the disposable income. Alternatively, the private sector should offer these essential services to the masses at minimal cost. However, quality should not be compromised. Privatizing the airports, postal services, and improving the educational sector should be strategic by shifting to a model that is based on competition and choice.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The government’s transfer payment policy such as unemployment benefits, social security funds to the elderly, and payments made to the poor had cuts. The transfer payment will reduce the amount of disposable income to the individuals involved hence justifiable. List of References Australian budget services, 2011, Federal Budget. Web. Baumol, W Blinder, S, 1994, Economics: principles and policy, 6th Edn, Dryden Press, Fort Worth. Krug, S, 2011, Optimal Taxation in a Federal System of Governments, GRIN Verlag GmbH, München. Perry, E, 2008, Fiscal policy, stabilization, and growth: prudence or abstinence?, World Bank, Washington, DC. Russell, M Heathfield, F, 1999, Inflation and UK monetary policy, 3rd Edn., Heinemann, Oxford. Symes, V 1995, Unemployment in Europe: problems and policies, Routledge, London. This essay on Global Economy: Fiscal Policies in US was written and submitted by user Cable to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

7 unprofessional email habits you need to avoid

7 unprofessional email habits you need to avoid No matter what level you are within your career, chances are you feel overwhelmed every time you sit down at your computer and check your inbox. Email is not just something to check in with once in a while and ignore- triaging and responding to emails is a huge part of the workday. In fact, a survey done by  Adobe found that almost half of the 1,000 people surveyed expect people to get back to them within the hour! You have to read and respond quickly, which leaves room for careless errors to creep in. Much of the impression you make with colleagues will be digital, so you need to remain sharp and focused- even if you’re working on your 30th email of the day. Read on for some very common errors that tend to occur when you let your guard down.Replying all for everythingBefore you hit replay all, pause. Always pause. Ask yourself, â€Å"Does everyone on this thread really need to see my reply?† Spend an extra minute culling down the list of recipients, or just respond o nly to the sender. You’ll be responsible for keeping everybody’s inboxes clutter-free for at least a day if you do this. There’s always the option of forwarding something along if later down the line you realize he or she needs to see it.Careless CC-ingThis is in the same vein as the â€Å"reply all,† except the stakes are higher and you could actually land yourself, your boss, or your client in hot water by adding a name to an email chain without asking first. Don’t share info that isn’t yours to share- never assume it’s okay to forward or share an email with a new recipient (especially one outside of the company) until you’re sure all parties are on board. Take the time to confirm if you ever have  any doubt.Forgetting the attachmentThis is one error that isn’t the biggest deal the first time it happens. But if it becomes a habit, you’ll start to look silly. You might think it’s okay, even cute, to send the follow up â€Å"Ooops!! Attachment attached!† email to your entire department when you’ve forgotten to attach a necessary document to the first email. But it isn’t- it just makes you seem careless.The theme that keeps coming up applied here, too: take your time. Do the last-minute check to make sure all recipients are correct, necessary, and that you’ve attached your attachments before you send.Unnecessarily crying â€Å"Urgent!†Do you get too many red-flagged emails, only to realize when you open them that they really aren’t that big of a deal? Don’t abuse the â€Å"urgent† function- if and when you do need to send an email with a true crisis, no one is going to believe you.Rambling on and onThink about the last time you opened up an email to see a wall of text. Be honest: did you really read the whole thing, every word? Probably not. There is no reason for your two-page email. Be as clear and concise as possible and save your coworkers (and yourself!) a whole lot of valuable time. People are more likely to read and digest your email if it’s short, sweet, and to the point. Bullet points are your friend!Misspelling someone’s nameThere’s a very good chance that your recipient’s name is literally in his or her email address. Do the extra two-second check to make sure you’ve spelled it right. If you’re mentioning other people within your email, take the time to double-check their names as well. Don’t assume that because someone has a common name that it takes the common spelling: Michelle or Michele? Gennifer or Jennifer? Geoffrey or Jeffrey? It matters.Writing bad subjects (or no subjects)Your recipients should be able to tell what your email is about simply by glancing at the subject line in their inbox. Don’t be vague. For example, â€Å"Follow-up† is a very vague email subject, but â€Å"Follow-up Notes from 9/15 Board Meeting† is direct and clear. Weeks, months, or years down the line, will your recipient be able to tell what’s in your email? Write your subject lines with that goal in mind. And please, please always include a subject- leaving the line blank is just lazy.

Public administration- delegates Essay Example | Topics and Well Written Essays - 250 words

Public administration- delegates - Essay Example With regard to the expertise and experiences of the delegates, almost all of the 55 had actively participated in the revolution despite multiple careers and titles. For instance, some had already served in the Continental forces as commanders whereas some had been members of the Confederation Congress. Among the 55 delegates, some were state governors, members of Continental Congress, and lawyers. The members of the convention also included individuals from every sphere like merchants, manufacturers, shippers, land speculators, bankers or financiers, physicians, farmers etc (America’s Founding Fathers). All had extensive knowledge and political experiences, for among the delegates, people like ‘Baldwin, Bassett, Bedford, Dickinson, Few, Franklin, Ingersoll, Livingston, Alexander Martin, Luther Martin, Mercer, Gouverneur Morris, Robert Morris, Read, Sherman, and Williamson’ had already lived or worked in more than one state or colony (America’s Founding Fathers). The level of education also varied and many had good education from British North American colonies or abroad. Another notable aspect was that almost all delegates namely Blair, Butler, Carroll, Houston, Ingersoll, Jenifer, Johnson, Livingston, Mifflin, Gouverneur Morris, Pinckneys, Randolph, Rutledge, Washington, and Wythe were from leading well-to-do families (America’s Founding Fathers). The delegates represented various regions; Connecticut, Delaware, Georgia, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North California, Pennsylvania, South Carolina, and