Question

1. Why do we need Social Security?

2. Social Security's Efect on the Economy.

- Effect on Work, saving

3. How Income taxes work?

4. Is it good for economy to build a stadium? why?

Answer 1

1) The modern governments are state governments welfare states. The welfare of its citizen's main duties of the government.The welfare of the citizen is done through welfare schemes activities such unemplyment benefits, Old age pension schemes etc.The economic factors are min reason for the social-political problem in the country hence government will solve this problem through social securities.

2) There are two views regarding the effects of social securities. According to one view, social securities scheme reduce the productivity of the labors example people not ready to work because they receive unemplyment benefits from the government. Another view opinion that it will solve the deflation problem when they get income.

3) The income tax refers compulsory payment made to the government.In other words to every country certain percentage of the money has to pay for the government.The income tax is progressive in nature higher the income higher the tax required to pay tot he government.Likewise, lower the income low tax required to pay for the individual.

4) If the stadium is built by the government is known as public goods that everyone has the access the stadium.The stadium is required for welfare the people it directly or indirectly benefits the people. The stadium is the place where the sports practice done and sports promote the good health of the persons.