UNIT 6: PUBLIC FINANCE

UNIT 6: PUBLIC FINANCE Nguyễn Thị Thủy Bùi Thị Vân Anh Trịnh Đăng Cường ˈfed.ər.əl ˈfed.ər.əlrɪˈzɜːv fʌnd ˌɪn.səˈfɪʃ.ənt ɪkˈspens ˈtreʒ.ər.i sɔːrs ˈrev.ən.juː ˈpeɪ.rəʊltæks I. VOCABULARY ˈkɔː.pər.ət ˈɪn.km tæks ˈkʌs.təmˈdjuː.ti ˈek.saɪz tæks məˈtjʊər trʌstfʌnd ˈkɒŋ.ɡres əˌprəʊ.priˈeɪ.ʃən bɒnd sɪˈkjʊə.rɪ.ti ˈkɒn.stɪ.tjuːt ˈkred.ɪ.tər I. VOCABULARY ˈkred.ɪ.tər det ˈæs.et ɪnˈves.tər dəˈmes.tɪk ɪnˈves.tər ˈpraɪ.vət bæŋk rɪˈkɔːl ˈsɜː.pləs ˌɪn.stɪˈtjuː.ʃən ˌɪn.dɪˈpen.dənt I. VOCABULARY I. VOCABULARY federal Federal reserve fund Insufficient Expense Treasury Source Revenues Payroll tax ˈfed.ər.əl ˈfed.ər.əlrɪˈzɜːv fʌnd ˌɪn.səˈfɪʃ.ənt ɪkˈspens ˈtreʒ.ər.i sɔːrs ˈrev.ən.juː ˈpeɪ.rəʊltæks Liên bang Dự trữ liên bang Quỹ Không đủ Chi phí Kho bạc Nguồn Thu nhập Thuế lương I. VOCABULARY Corporate income tax Customs duties Excise taxes Mature Trust fund Congress Appropriation Bond Securities Constitute ˈkɔː.pər.ət ˈɪn.km tæks ˈkʌs.təmˈdjuː.ti ˈek.saɪz tæks məˈtjʊər trʌstfʌnd ˈkɒŋ.ɡres əˌprəʊ.priˈeɪ.ʃən bɒnd sɪˈkjʊə.rɪ.ti ˈkɒn.stɪ.tjuːt Thuế Thu nhập doanh nghiệp Thuế hải quan Thuế tiêu thụ đặc biệt. Đáo hạn Quỹ tín thác Quốc hội Trích/phân bổ Trái phiếu Chứng khoán Tạo thành I. VOCABALARY Creditor Debt Asset Investor Domestic Investor Private bank Recall Surplus Institution Independent ˈkred.ɪ.tər det ˈæs.et ɪnˈves.tər dəˈmes.tɪk ɪnˈves.tər ˈpraɪ.vət bæŋk rɪˈkɔːl ˈsɜː.pləs ˌɪn.stɪˈtjuː.ʃən ˌɪn.dɪˈpen.dənt Chủ nợ Nợ Tài sản Nhà đầu tư Nhà đầu tư trong nước NH tư nhân Thu hồi Thặng dư TổChức Độc lập Public Finance main source of revenue Borrowing taxes revenue used II. Sumary 1. Where does the federal Budget Come From ? The federal budget come from major sources tax revenue such as income taxes, payroll taxes, corporate income taxes, Customs duties, excise taxes… Borrowing Public Domestic investors International investors (foreign investors and central banks of other countries ) Federal Reserve Bank State and local Government itself 2. How do they finance the difference between tax revenue and spending ? Finance the difference between government spending and revenues by borrowing. The Treasury borrows money by selling bonds and other types securities. [...]... Comprehension Questions 1.What is public finance concerned with? It is concerned with income and expenditure of government, and with adjustment of one to other   2.What does the government’s revenue comes from? The revenue come from: Individual income taxes; Corporate income taxes; Payroll taxes; Customs duties; Excise taxes 3.What are the role of public finance ? The role of  public finance  are: Efficient allocation of resources;... a surplus, the Treasury takes the surplus and uses it, but  they must pay that borrowed money back.  9.What is “debt held by the public ? Debt held by the public is the total aamount the  government owes to all of its creditors in the general  public.  That includes Americans as well as foreign  individuals and the government of foreign countries 10.How is public finance used in Viet Nam? Effective -Tax has secured financing primarily for successful ... modernized 10.How is public finance used in Viet Nam? -Increasing the ratio of spending to focus on economic development and solve pressing social problems -Solve successful restructuring foreign debt, foreign debt is capped at safety according to international practice - International integration in the financial sector has positive results - ODA has been used well 10.How is public finance used in Viet...  revenue over a particular period of time the opposite  of budget surplus The term may be applied to the budget of a government,  private company, or individual 5.How can the government raise more money apart from its revenue to finance the deficit? To finance the deficit, they will sell issuing bonds and other types of securities Anyone can buy its,and lend money to them by doing so 6.What is the defference between “”federal funds” and... range is still limited taxation, the tax system not cover all sources of income, revenue miss and taxpayers -State investment of a high proportion, but the contribution to the low growth 10.How is public finance used in Viet Nam? -Loss, waste in management land, investment and construction spending are serious -Administrative expense was unreasonable, the budget for a number of areas need to take care... them on just about anything It can be used only to pay for very specific programs like Social Security and Mendicare 7.What does the federal debt include? The federal debt include the debt held by the public and the debt held by federalaccount   8.What is “debt held by federal accounts”? Debt held by federal account is the amount of money that  the Treasury has borrowed from itself. Recall from above  . UNIT 6: PUBLIC FINANCE Nguyễn Thị Thủy Bùi Thị Vân Anh Trịnh Đăng Cường ˈfed.ər.əl ˈfed.ər.əlrɪˈzɜːv fʌnd ˌɪn.səˈfɪʃ.ənt ɪkˈspens ˈtreʒ.ər.i sɔːrs ˈrev.ən.juː ˈpeɪ.rəʊltæks I income taxes; Payroll taxes; Customs duties; Excise taxes. 3.What are the role of public finance ? Theroleof public finance are: Efficientallocationofresources; Distributionofincome; Macroeconomicstabilization.  4.What. accounts”? Debtheldbyfederalaccountistheamountofmoneythat theTreasuryhasborrowedfromitself.Recallfromabove thattrustfundsarefederaltaxrevenuesthatcanonly beusedforcertainprograms.Whentrustfundaccountrun asurplus,theTreasurytakesthesurplusandusesit,but theymustpaythatborrowedmoneyback. 9.What is “debt held by the public ? Debtheldbythe public isthetotalaamountthe governmentowestoallofitscreditorsinthegeneral public. ThatincludesAmericansaswellasforeign individualsandthegovernmentofforeigncountries. 10.How