Who has the largest economy?

Script
Easy Graphs Production
Who has the largest economy?
By Steven A. Levy

From the CIA World Factbook, Jan 4, 2018

Figures are for 2016.

Using GDP (official exchange rate)
The whole world is 76 Trillion Dollars
USA is 19 Trillion.
China is 11 Trillion.
The rest is 46 Trillion.

But if we use Purchasing Power Parity China is first.

Total world 120 trillion dollars.
China is 21 trillion dollars.
USA is 19 trillion dollars.
The rest of the world is 80 trillion.



Reference:

From the CIA World Factbook, Jan 4, 2018
GDP (purchasing power parity)
"sum value of all goods and services produced in the country valued at prices prevailing in the United States in the year noted". This will make comparisons between countries more accurate. If goods and services are two time more expensive in country A over country B, then if B's GDP is half, they may seen equal because goods are more expensive in A.

World

GDP (purchasing power parity):
$120.2 trillion (2016 est.)
$116.7 trillion (2015 est.)
$113.1 trillion (2014 est.)
note: data are in 2016 dollars

GDP (official exchange rate):
SGWP (gross world product): $75.52 trillion (2016 est.)

USA
GDP (purchasing power parity):
$18.62 trillion (2016 est.)
$18.12 trillion (2015 est.)
$17.43 trillion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 3

GDP (official exchange rate):
$18.62 trillion (2016 est.)

China
GDP (purchasing power parity):
$21.29 trillion (2016 est.)
$19.7 trillion (2015 est.)
$18.23 trillion (2014 est.)
note: data are in 2016 dollars
country comparison to the world: 1

GDP (official exchange rate):
$11.23 trillion (2016 est.)

GDP (purchasing power parity)
World, 120.2, 100%
USA, 18.6,
China, 21.3
Rest,0

Who owns stock in America?

How to quote
Last, First M. "Article Title." Newspaper Title [City] Date Month Year Published: Page(s).

Viser, M. and Rppeport, A. "Populist words not matched by deeds." Boston Globe 12/3/2017. Pages A1, A6.

Carbon Pricing

     Massachusetts has to reduce emissions from the fossil fuels, oil, coal and gas. These emissions cause global warming. We are facing a deadline we will not meet. The 2008 Global Warming Solutions Act calls for reduced emissions. The goal for 2020 is 25% less than the 1990 level. It is unlikely we can meet that deadline.
     We are also behind in meeting the deadline for 2050. That deadline is an 80% reduction in emissions from fossil fuels. Other countries use a plan called "carbon pollution pricing". This plan is reducing global warming pollution emissions around the world.
     The state legislature is proposing two bills on carbon pricing. Senator Mike Barret is the sponsor of bill S.1821. Representative Jennifer Benson is the sponsor of the second bill, H.1726. Altogether, there are 79 sponsors. That would be almost a quarter of the legislature.
     These bills put a tax on coal, oil or gas that is imported into Massachusetts. The state would rebate all or part of the revenues back to state residents and businesses. Everyone would get an incentive to reduce fossil fuel use in order to keep more of their rebates.
    One of the bills would set aside some of the revenues for a Green Infrastructure Fund. This bill would help municipalities pay for energy efficiency, clean energy, and climate resiliency projects. These bills would reduce air pollution. Bay State residents would be healthier.
    Each year Massachusetts spends over 20 billion dollars on fossil fuels. Both bills would help us keep more of that $20 billion.  Eventually we will grow our own renewable energy businesses. That means more good jobs for our residents.
     Governor Baker recently voiced his support for the Paris Accord. His key interest is the emissions reductions targets. Most economists agree that putting a price on carbon pollution is the single most effective way to help us meet those targets. It would encourage shifting to cleaner, more reliable renewable energy systems.  We do not have time to wait. Let us put a price on carbon pollution now.

Fair Taxes - How money is distributed in USA

Distribution of Wealth

Wealth inequality in the United States. In Wikepedia retrieved 11/23/17, from en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States

One person pays $40

19 pay $2.80

80 pay $0.09

More recently, in 2017, an Oxfam study found that eight rich people, six of them Americans, own as much combined wealth as half the human race.[10][11][12]

     What is a fair way to assess taxes? Suppose a company of 100 people goes out for holiday coffee. These people represent how America's wealth is distributed. They decide to split the bill according to how much wealth they have. Assume the total bill was $100. One person would pay $40. Nineteen would pay $2.80. The remaining 80 would pay only $.09 each.

     Reference information came from Wikipedia, Wealth inequality in the United States.

H.4011

Jay Morrison
Nov 11 (1 day ago)

to me
Hi Steve,  I called you as a part of EMIT (End Mass Incarceration Together).  The Senate already passed an "omnibus" bill on October 27th.  The House bill is not as strong as the Senate bill, so we are asking that people call Lori not only to support the H.4011, but also amendments to that bill as well. The house debate is scheduled to start on Monday 11/13, but I don't know if they will get to it by then. Lori's phone is 617-722-2810 and email: Lori.Ehrlich@mahouse.gov.  Thanks for your interest! Jay Morrison

How an Idea Becomes a Law

SUBJECT: Civics. History or Government

TITLE: How Citizens Can Influence What Laws Are Passed
(This lesson gives students a chance to use what they learned about government)

LEARNING OBJECTIVES:

1. Learn the steps in how laws are made
2. Learn how to use the hearings and events website
3. Learn how to find my legislator
4. 
   

MATERIALS


Reference:
THE GENERAL COURT OF MASSACHUSETTS OFFICE OF THE CLERK OF THE SENATE | STATE HOUSE • ROOM 335 | 617-722-1276
How an Idea Becomes a Law
Below is an explanation of how an idea becomes a law in Massachusetts.

Step 1: Proposal

Step 2: Petition is filed

Step 3: Hearing is Held and Testimony Heard
The committee holds a public hearing and hears testimony regarding the petition from the public, government officials and office holders. After the hearing is held, the committee issues a report recommending whether the petition “ought to pass”, “ought not to pass”, be subject to further study or discharged to another committee.


Reference:
Hearings and Events https://malegislature.gov/Events/Hearings/

Tax policy graph

http://www.taxpolicycenter.org/publications/analysis-house-gop-tax-plan/full

Tax Policy Center

• current debt 21 T (https://www.usgovernmentdebt.us/)
• 10 years add 3 
• 20 years add 6