The Student Supplement to Accompany Demystifying Economics, along with Dr. Allen W. Smith’s popular handbook Demystifying Economics, provides an excellent learning tool for those who want a general understanding of basic economics. Both books are very reader-friendly, and they are written for those people who have no background in economics, but who need a comprehensive introduction to the subject. 
The contents of each chapter of Demystifying Economics are summarized in the form of chapter highlights in the Supplement, and the content is expanded. In addition, review questions, discussion questions, and important terms for each chapter are added in the supplement. The supplement can be used with any book on basic principles of economics, and it could be a superb resource for those who need a refresher on basic economics.

Student Supplement to Accompany Demystifying Economics

Smith., Allen W.

Ironwood Pubns

DEMYSTIFYING ECONOMICS: EXPANDED SECOND EDITION is a survey of basic economics written in simple language with the use of concrete examples that relate economics to ordinary daily life. The book is designed to make economics accessible to everyone regardless of educational background. The book provides substantial coverage of federal budget deficits and the more than five-fold increase in the national debt just during the past 20 years. The book also deals with such important topics as, "Unemployment and Inflation," "Money and Banking and the Federal Reserve System," "International Trade and Finance," and "Unions and Collective Bargaining."

Demystifying Economics: The Book That Makes Economics Accessible to Everyone

Business & Money

Demystifying Economics : The Book That Makes Economics Accessible to Everyone--Expanded Second Edition

Written in simple language and using concrete examples that relate economics to ordinary life, offers a lay-oriented survey of basic economics.

Economics

The money’s gone! Social Security doesn’t have $2.7 trillion stashed away for paying benefits, as so many people believe. It cannot pay benefits for another 20 years, as is often claimed. In fact, Social Security does not have enough money to pay full benefits, even for 2014, without borrowing money from China or another of our creditors. How can this be? Wasn’t Social Security fixed by the Social Security Amendments of 1983, which included a large increase in payroll taxes? That’s what we were told at the time. President Reagan signed that legislation into law with great fanfare on April 20, 1983. With his comments at the signing ceremony, Reagan gave the impression that it was a proud day for America. But, instead of being a proud day for America, as Reagan implied, the day the new legislation was signed into law, turned out to be a day of shame for the United States. The Social Security Amendments of 1983 laid the foundation for 30 years of government embezzlement of Social Security funds. The money was used to pay for wars, tax cuts for the rich, and other government programs. The payroll tax hike of 1983 generated a total of $2.7 trillion in surplus Social Security revenue. This surplus revenue was supposed to be saved and invested in marketable U.S. Treasury bonds, which would be held in the trust fund until the baby boomers began to retire in about 2010. But not one dime of that money ever made its way to the Social Security trust fund. The 1983 legislation was sold to the public, and to Congress, as a long-term fix for Social Security. With the help of Alan Greenspan, Reagan was a super salesman, who could have sold almost anything to the public—even a scam. And that’s exactly what he was selling. Reagan intended to use the surplus Social Security revenue to replace revenue lost because of his unaffordable income tax cuts. Instead of being set aside for the retirement of the baby boomers, as was the intent of the legislation, the extra Social Security revenue was deposited directly into the general fund just like income tax revenue. From the very beginning, Reagan and his advisors had no intention of saving and investing the new revenue for the retirement of the baby boomers. They needed additional general tax revenue, and an increase in the payroll tax would be much easier to enact than higher income taxes. Also, the potential to get vast amounts of revenue was much greater with a payroll tax increase than from an income tax increase. The baby boomers, the largest generation of Americans who ever lived, were already making large contributions to the Social Security fund. Like all previous generations, prior to 1983, the boomers were being required to pay the full cost of benefits paid to the previous generation. But, the proposed new legislation would hit the boomers with a double whammy. In addition to paying for their parents’ benefits, the new law would require the baby boomers to also pay enough additional taxes to prepay the cost of their own benefits. This would generate a potential gold mine of surplus revenue that could be tapped and used for other purposes. But none of the $2.7 trillion in additional Social Security revenue was ever saved or invested in anything. The actual surplus money was replaced with nonmarketable government IOUs, which cannot be converted into cash or used to pay Social Security benefits. It would have been bad enough if only Reagan had looted Social Security money. But George H.W. Bush, Bill Clinton, and George W. Bush all followed in Reagan’s footsteps and spent all of the Social Security surplus revenue for non-Social Security purposes, just like Reagan. This book is a must read for all who care about the future of Social Security and the integrity of their government.

Raiding the Trust Fund: Using Social Security Money to Fund Tax Cuts for the Rich

Ironwood Publications

See the best price to sell, buy, or rent books by Smith., Allen W.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by Smith., Allen W.

See the best price to sell, buy, or rent books by Smith., Allen W.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Student Supplement to Accompany Demystifying Economics

Demystifying Economics: The Book That Makes Economics Accessible to Everyone

Demystifying Economics : The Book That Makes Economics Accessible to Everyone--Expanded Second Edition

Raiding the Trust Fund: Using Social Security Money to Fund Tax Cuts for the Rich