PAD-3003 Chapter Notes - Chapter 8-12: Warren G. Harding, Payroll Tax, Needs Assessment

• School: FSU
• Department: Public Administration and Policy
• Course: PAD-3003
• Professor: Michael Blair Thomas

Document Summary

Pad 3003: final exam chapter review v the executive branch, especially the us president had no formal role in federal budget decisions until the passage of the budget and accounting act of 1921, signed by warren. The total v types of budgets: amount of the deficit or surplus. Executive: prepared by leaders typically within the executive branch (president, country chairman, mayor, etc. ). Legislative: prepared by a body of elected representatives. Operating: short-term, year-to-year budget that plans how resources will be allocated for public programs. Capital: long-term plan that deals with financing projects that typically include infrastructure (bridges/buildings) and quality of life projects. v 5 types of taxes. Personal income: percentage of an individual"s wages/salary; at most 35%. 1950-2010 this has consistently been where the government gains most of its revenue. Corporate income tax: depend on profitability of a business. Payroll tax: employees and employers pay jointly. Capital gains tax: sales of stocks, bonds, metals and real estate; at most 15%.