Exciting things are happening in this little happening town. We have broken ground on our new Wal-Mart, and will be adding roads soon to complete this project. Hoping everything goes off without a hitch.
This week was all about taxes. We studied all the bases and the structures of the tax system. And the best way to study taxes was to put them to the test. So Weserville collected taxes this week. We experimented with proportional, progressive and regressive tax collection. We were each given a certain amount of money some had $25,000 and some only had $6,000 and then we paid taxes. Half had to pay taxes using the proportional system where everyone pays the same percentage. Half paid taxes using the progressive system where the higher income people have to pay a higher percentage then the low income people. And then to test the final tax structure we took people who had already paid both tax systems to pay the regressive tax system. With this collection the low income people are forced to pay a higher wage, and the high income people pay a lower percentage. I think this is the most unfair tax system used. So now that we have collected taxes we no longer have $0 and are on our way to a bigger and brighter future.
We also had a test on Thursday and if our class gets a higher percentage than the other class then we get milk and cookies!! GO COOKIES!!
You did a great job showing where Weserville is at this point in time. I also think that the regressive tax is the least fair. It forces the poor to pay more of the money they need to survive which will not give them a chance to rise up in life. Weserville definitely did need taxes in some way or another though. I also would really like to have cookies from the test.
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