Economics is the social science that studies the production, distribution, trade, and consumption of goods and services. Economics uses a mix of psychology, mathematics, experiment, and analysis to predict and understand economies.
In America we have a Progressive Federal Income Tax system broken down into “tax brackets”. Tax Filers pay the “marginal tax rate” on each dollar of income in a given bracket (after most deductions, but before tax credits).
About half of American families pay little to no federal income tax after tax credits and deductions. Payroll taxes, excise taxes, and sales taxes hit the average American family the hardest.
Below we explain neoliberalism, globalization, nativism, and protectionism and the pros and cons of neoliberal globalization and nativist protectionism.
Extreme equality and an extreme inequality are both equally as dangerous in a democratic society. In both cases it corrupts the government.
Below we explain how currency gets into circulation via the Treasury, Federal Reserve, and banks, and the role Congress, banks, businesses, and you play in the process.