Tiếng Anh Chuyên Ngành 1 - Unit 6 Pulblic Finance.pptx

VOCABULARY Corporate income tax Customs duties Excise taxes Mature Trust fund Congress Appropriation Bond Securities Constitute Thuế hải quan Thuế tiêu thụ đặc biệt.. How do they financ

UNIT 6: PUBLIC FINANCE

I VOCABULARY

federal Federal reserve fund

Insufficient Expense

Treasury Source Revenues Payroll tax

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

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

Tài sản Nhà đầu tư Nhà đầu tư trong nước

NH tư nhân Thu hồi

Thặng dư TổChức Độc lập

1 Where does the federal Budget Come

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

3 How is the tax revenue used?

Some taxes fund specitic government programs.

Other taxes fund the government in general.

III 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;

Distribution of income;

Macroeconomic stabilization.

4.What is “deficit spending”?

Deficit spending is the amount by which spending exceeds 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 “trust funds”?

Federal funds Trust funds

corporate taxes

Payroll taxes

the president can decide to spend 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 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 is public finance used in Viet Nam?

Effective

-Tax has secured financing primarily for successful

implementation of the tasks of economic development - social, security and defense

-Administrative procedures in tax collection is simplified, the tax administration is gradually being renovated and modernized.

-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.

10.How is public finance used in Viet Nam?

-Proportion of direct taxes are low.

-The 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 of human development such as education, health care has not met the necessary

requirements

Government shall disclose financial income and expenses

The investment project should be checked regularly for the efficiency of investment capital.

Punishment of corrupt officials

Punishment for personal business or place of duty.

SOLUTION