Definition: __The more money you make, the higher taxes you pay__
Same Tax Rate for All citizens
_The less money you make, the higher your tax rate (Like Feudal Europe)__
Definition: _Things built by the Gov. for public use (like roads, bridges, federal buildings)____________
Example from your life: Lakeshore Landscaping, public library, Bay Bridge, etc.
Police, Fire Dep.
Parks & Rec, Public Transit
Public Education, Hospitals
Tax Collection and Investigation
Internal_ _Revenue_ _Service
Federal Taxes are collected from your _paycheck_.
This is called _Income_ _Tax_.
are collected from your _paycheck_ and through _sales_ _tax_,
which is the _percentage__ of the _cost_ of things you buy.
CEO of Enron who started the company, retired, came back when Jeff Skilling resigned
Came up with Mark-to-Market accounting, resigned right before bankruptcy
Killed himself before prosecution for stock market fraud
Accounting executive, made Mark-to-Market accounting work
Executive who quit before Enron got caught, obsession with strippers
Conflict of Interest
Person in leadership can get personal benefit from decisions he/she makes (raising own salary)
Snitching, or reporting illegal behavior your company is doing
What is Mark-to-Market Accounting
Basing profit numbers on future hypothetical profits rather than actual ones
Enron CEO's were found guilty of
Stock Market Fraud: Falsified profit reports to raise stock price
What led to the California Energy Crisis?
Enron executives faked power outages and double-sold energy to multiple states