There are barely anymore tenured or permanent professors due to the fact they are paid more than temporary professors who are paid practically minimum wage while admin can make almost millions of dollars
@QuickSilverD I do believe that the government does need revenue and does need to tax. The harder question is how much revenue as a % of GDP and where it is best used.
Yes, he thinks for it’s not entirely obvious and there are alternatives. Still, taxation is a more certain and practical way to raise government revenue and arguably worth the trade offs in some markets. The more interesting question is truly still of the level and type of taxation + the proportion of government spending as a % of GDP. ‘Fiscal Policy’, they gave it a name precisely because it’s so darn important.
+Magicstaa According to wikipedia: "Khan attended the Massachusetts Institute of Technology, graduating with a Bachelor of Science in mathematics, a Bachelor of Science in electrical engineering and computer science, and a Master of Science in electrical engineering and computer science in 1998.[7] Khan was class president in his senior year.[8] Khan also holds a Master of Business Administration from Harvard Business School.[9][10]"
Perfect explanation but if you watch videos just before the exam i recommend you Jacob Clifford - he prepares 3 minute videos and explain everything in short and clear manner
I would love to see how tariff taxation is calculated. I feel like this method should consider the nation we are responsible for. Say money taxed is value saved by another form of tax times the number of people within the nation they exchange with "pay". People are looking at economic efficiency, without considering the lost wages from being out of competitive balance. Lost wages we must make up for in another form of taxation.
HAHAHA! the video title says "dead weight loss" meaning the lose of the surplus, but all these auto typers or bots or whatever you call them think its about human weight lose. I haven't laughed this hard for a while...who knew it would be in an econ video.
less burgers are now being produced because they won't get the minimum price they want. the surplus from those units are going away. producers also need to pay tax. they cant keep it so the surplus is below the orange line.
Why not give functions of S and D and then add 1 to the supply equation in terms of price or add 1 to the inverse supply function, rearrange and find supply function in terms of quality set it equal with demand function to get the new pe and qe
Taxation is good. Its the governments job to protect the transactions of all demanders and suppliers and it needs revenue from somewhere so yes it is ok for the government to tax. haha but then the question of how much "protection" needs to be placed to protect the transactions and protection comes in the form of stable currency, laws, "pro growth tax", ease in starting a business,few barriers to business, respect for property rights... not price setting as some people assume.
What you're missing is that this is just a model. Sure there's economies of scale but you're not taking into account marginal benefits. As you get closer to full capacity and over your workers might get in each other way. Eventually it would be better to increase capacity by getting new land and more workers, but they might have a better marginal benefit else where in society.
Demand curve only shift is increase the amount of buyers, increase the consuption power, change the preference of buyers. In this case the tax only shift the supply curve.
No more dead weight! We don't need it! Can't pay for school, can't pay for gas, insurance is ridiculous - the best income I can get can't keep up! Guess we'll all just live @ home for the next 10 years till we can pay for it all.
So people start eating healthier food, get healthier and live longer and we realise that the consumer's assessment of their own "surplus" (by which i think you mean their love of hamburgers) was partly unreasonable and the government had health advice which was more reasonable. We also don't see here the consumer benefit of eating that other healthier untaxed food, so the diagram is isolated from the full picture. If we saw that full picture, we would not need to lament this fictional "deadweight". Of course, if this economy is in the USA, people have probably just started eating cheap and nasty pizza anyway, so i get that.
Well, it is still rational expectation if a) The utility derived from the consumption of the first hamburger is 200 UTILS b) The disutility derived from that first hamburger’s opportunity cost -100 UTILS c) The disutility from thinking about a diminutive and invisible indirect impact to health from consumption- -10 UTILS You can’t decide what’s better for someone.
Yeah, so, as for federal taxation, federal taxes are not a funding mechanism for the federal government. Every time the federal government spends, it creates new dollars to fund that spending. That is how dollars are created and injected into the private sector. Federal taxes are how dollars are extracted from the private sector and destroyed. Federal taxes are not recycled. In fact, if you pay your taxes in cash, they literally shred it. In the olden days, back when all taxes were paid in cash, they burned it. This belief that taxes are recycled is a neoliberal bluff akin to believing that banks are financial intermediaries that take deposits and then lend those out. This is a strange faith in what was learned from George Bailey in It's a Wonderful Life. The financial intermediary theory of banking, like the fractional reserve theory of banking are complete bunk. There is no empirical evidence to support either of these theories. The only theory of banking that is empirically proven is the credit creation theory of banking. Imagine for a moment that the federal government asks you to pay a tax in dollars before it, the sole creator of the dollar, has spent it into existence. Is it possible? No. The federal government has to create that dollar before it can tax that dollar. And no, the federal government never borrows dollars to fund spending. Securities are a monetary tool used to control the overnight interest rate and a timed payout savings account. It is also not a funding mechanism. As for state taxes, yes, the state absolutely needs revenue before it can spend that revenue as it is not a currency creator. It's like comparing apples to a soccer ball.
My family laughed when I told them I was going to get rid of fat with "Lean Body Stagger", but then they saw the results. Google "Lean Body Stagger" to see their reaction.
I owe so much of my life to you... you have helped me pass soo many classes!
That says a lot about college education
femiairboy94 It is true college and higher education is turning into a monopoly watch Patriot Acts episode “Is College Still Worth It?”
There are barely anymore tenured or permanent professors due to the fact they are paid more than temporary professors who are paid practically minimum wage while admin can make almost millions of dollars
how does this guy just know everything?!?!?
I don't know, I don't really know, is Sal an AI ? A machine?????? A teacher??? Who knows!!
Probably the voice actor for khan academy
obviously not. no hamburger is created equally
@@whunderwhoiam2489 A valid theory.
@@whunderwhoiam2489 dude no this guy does know, or at least learns it before teaching
@QuickSilverD I do believe that the government does need revenue and does need to tax. The harder question is how much revenue as a % of GDP and where it is best used.
You think?
Yes, he thinks for it’s not entirely obvious and there are alternatives. Still, taxation is a more certain and practical way to raise government revenue and arguably worth the trade offs in some markets. The more interesting question is truly still of the level and type of taxation + the proportion of government spending as a % of GDP. ‘Fiscal Policy’, they gave it a name precisely because it’s so darn important.
wow thank you much ! legit spent the last hour trying to understand this
"We are just assuming that all Hamburgers were created equal" - Emancipation Proclamation for Hamburgers. LOL.
+Magicstaa According to wikipedia: "Khan attended the Massachusetts Institute of Technology, graduating with a Bachelor of Science in mathematics, a Bachelor of Science in electrical engineering and computer science, and a Master of Science in electrical engineering and computer science in 1998.[7] Khan was class president in his senior year.[8]
Khan also holds a Master of Business Administration from Harvard Business School.[9][10]"
Kind of amazing how he turned his love for education in learning into such a big and helpful business
Perfect explanation but if you watch videos just before the exam i recommend you Jacob Clifford - he prepares 3 minute videos and explain everything in short and clear manner
Man just did in 9 minutes what my professor couldn't do in 9 weeks.
"All hamburgers are created equally....which we know is not true" I swear ive heard something similar to this before :/ huh
I would love to see how tariff taxation is calculated. I feel like this method should consider the nation we are responsible for. Say money taxed is value saved by another form of tax times the number of people within the nation they exchange with "pay".
People are looking at economic efficiency, without considering the lost wages from being out of competitive balance. Lost wages we must make up for in another form of taxation.
Fantastic Video! Thanks
Do a video on supply-side economics
Really good explanation. Thank you so much for sharing the knowledge!
this is very interesting i wouldve never thought about dead weight loss in real life scenarios
Thank you so much for making all of these videos!
Thank you very much Sal Khan!
Amazing explanation
Thank you 😊😊
Great information! Thanks for sharing this
Well explained! Thank you.
HAHAHA! the video title says "dead weight loss" meaning the lose of the surplus, but all these auto typers or bots or whatever you call them think its about human weight lose. I haven't laughed this hard for a while...who knew it would be in an econ video.
Well I am back here after you helped me pass linear algebra and calulus
Have you done a video on Land Value Tax?
Thank you, you saved me
Thank you 💖
This operates on the assumption of zero competition- making prices rise at a one to one ratio.
Not only that, taxes are only paid on profits.
haha, what do you think supply and demand diagrams represent?
-These are indirect taxes, even you should know that much.
This video explained how taxes mess up consumerism
@QuickSilverD i think this is just an objective observation of the effect of taxes on the economy. i'd be surprised if khan was a raging anarchist.
in this whole video i feel like *government was villain*
You are GOD
This was great!
To pay off their debt? haha..Sal...your funny...that's a good one.
this video is very helpful thank you sir
show how an increase in taxes can actually decrease revenue
made it easy for me to understand!
Why does the producer surplus decrease in price. They raise they're prices, should the only producer decrease be in quantity?
less burgers are now being produced because they won't get the minimum price they want. the surplus from those units are going away. producers also need to pay tax. they cant keep it so the surplus is below the orange line.
Cheeseburgers are drop dead gorgeous!
thank you
Tomorrow is my test and I know only he can make me pass
soo the producers surplus is the profit?
yes
@khanacademy Do you feel confortable sharing your own opinion on whenever the US Goverment do, taxes and spends too little or too much?
Nice khan sir......
terimakasih :)
thank you Sal! :)
best of the best
Why not give functions of S and D and then add 1 to the supply equation in terms of price or add 1 to the inverse supply function, rearrange and find supply function in terms of quality set it equal with demand function to get the new pe and qe
Taxation is good. Its the governments job to protect the transactions of all demanders and suppliers and it needs revenue from somewhere so yes it is ok for the government to tax. haha but then the question of how much "protection" needs to be placed to protect the transactions and protection comes in the form of stable currency, laws, "pro growth tax", ease in starting a business,few barriers to business, respect for property rights... not price setting as some people assume.
Ahh you're too good! Thankyou
Your handwriting distracts me. How can it be so neat?! And you're writing with a computer mouse?
***** He's using a graphics tablet. ;)
Yeah I finally figured it out after seeing someone work on one of those for animation slides OTL thought he was some sort of handwriting god
wouldn't the producer surplus lie on the right of the equilibrium price. Because they a gaining much more??
Nice. More proof that the class room is a waste of time.
Great
Massive love!!
Great video. Now I know how they tax us for their poc*et
What you're missing is that this is just a model. Sure there's economies of scale but you're not taking into account marginal benefits. As you get closer to full capacity and over your workers might get in each other way. Eventually it would be better to increase capacity by getting new land and more workers, but they might have a better marginal benefit else where in society.
Why has demand curve not shifted?
Demand curve only shift is increase the amount of buyers, increase the consuption power, change the preference of buyers. In this case the tax only shift the supply curve.
Does Khan thinks that it is a good thing or not that the goverment gets revenue?
common khan w
No more dead weight! We don't need it! Can't pay for school, can't pay for gas, insurance is ridiculous - the best income I can get can't keep up! Guess we'll all just live @ home for the next 10 years till we can pay for it all.
So people start eating healthier food, get healthier and live longer and we realise that the consumer's assessment of their own "surplus" (by which i think you mean their love of hamburgers) was partly unreasonable and the government had health advice which was more reasonable. We also don't see here the consumer benefit of eating that other healthier untaxed food, so the diagram is isolated from the full picture. If we saw that full picture, we would not need to lament this fictional "deadweight". Of course, if this economy is in the USA, people have probably just started eating cheap and nasty pizza anyway, so i get that.
Well, it is still rational expectation if
a) The utility derived from the consumption of the first hamburger is 200 UTILS
b) The disutility derived from that first hamburger’s opportunity cost -100 UTILS
c) The disutility from thinking about a diminutive and invisible indirect impact to health from consumption- -10 UTILS
You can’t decide what’s better for someone.
RIP to those watching today and taking a test tomorrow
what did you get on your test
ITS NOT
#millions of Hamburgers per day.....Dead 'weight-loss'..... Harberger's triangles.....
I see what you did there Sal! I am not fat!
Yeah, so, as for federal taxation, federal taxes are not a funding mechanism for the federal government. Every time the federal government spends, it creates new dollars to fund that spending. That is how dollars are created and injected into the private sector. Federal taxes are how dollars are extracted from the private sector and destroyed. Federal taxes are not recycled. In fact, if you pay your taxes in cash, they literally shred it. In the olden days, back when all taxes were paid in cash, they burned it. This belief that taxes are recycled is a neoliberal bluff akin to believing that banks are financial intermediaries that take deposits and then lend those out. This is a strange faith in what was learned from George Bailey in It's a Wonderful Life. The financial intermediary theory of banking, like the fractional reserve theory of banking are complete bunk. There is no empirical evidence to support either of these theories. The only theory of banking that is empirically proven is the credit creation theory of banking. Imagine for a moment that the federal government asks you to pay a tax in dollars before it, the sole creator of the dollar, has spent it into existence. Is it possible? No. The federal government has to create that dollar before it can tax that dollar. And no, the federal government never borrows dollars to fund spending. Securities are a monetary tool used to control the overnight interest rate and a timed payout savings account. It is also not a funding mechanism. As for state taxes, yes, the state absolutely needs revenue before it can spend that revenue as it is not a currency creator. It's like comparing apples to a soccer ball.
My family laughed when I told them I was going to get rid of fat with "Lean Body Stagger", but then they saw the results. Google "Lean Body Stagger" to see their reaction.
Anyone else here from Zeducation?
Mr khan you literally farted in this video
tattoo spit ir!
marry me ( jll )
I find his voice annoying and distracting
it’s not just me! he keeps repeating everything making it confusing
lol if the government doesnt get revenue how does the country gonna be operating?
I don't think he is getting it. Sorry
this video is very helpful thank you sir