How does the Constitution organize the three branches of government at the national level in terms of structure and powers? Legislative Branch – “Makes the laws” 2 Houses : result of Great Compromise of Representatives Senate Members 435 100 Representation Based On Population – per Census 2 per state Requirements 25 yrs. Old / 7 yr. U.S. resident / citizen 30 yrs. Old / 9 yrs. U.S. resident / citizen Term 2 yrs. 6 yrs. Leader Speaker of the House President Pro Tempore when the Vice-President is not in attendance. V.P. may break tie votes. Specific Functions Originate bills” Impeach officials / judges Approve treaties Approve presidential appointments of impeached officials / judges Constituents – The people represented by a member of Congress Executive Branch ; “Enforces the law” Presidential Roles President Must be 35 yrs. old / native born citizen / resident of U.S. for 14 yrs. Power to veto bills passed by Congress Commander-in-Chief Head of military Chief Diplomat Directs foreign policy Head of State Represents U.S. to other leaders Legislative Leader Proposes laws for Congress to consider Economic Leader Propose budget, etc. Chief Executive Head of executive agencies Party Leader Leader of his political party Executive Departments Cabinet = Heads of the executive Depts.. Advise the president 15 Departments Dept. of Homeland Security Coordinate defense against terrorist acts Dept. of Interior Manages public lands and resources Dept. of State Carries out foreign policy Dept. of Justice Law enforcement Independent Agencies Executive Agencies Deal with specialized areas of government - ex. N.A.S.A. Government Corporations Provide services but at no profit – ex. U.S. Postal Service Regulatory Boards & Commissions Make and enforce rules for industries and groups – ex. Federal Communications Commission ( F.C.C.) regulates radio and television
“Rule of 72” – 72 divided by rate of return = years until your money doubles ex. $100 earning 4% annually will become $200 in 18 years. Use Retirement plans to save for retirement : 401k Plan – You direct money to be deducted from your pay to an account that is invested ( usually in stocks and bonds ). Tax deferred – pay no taxes on the investment and earnings until you withdraw it Limited to the investment offered by your employer Roth 401k Plan – Like a traditional 401k but not tax deferred ( You pay on the amount you invest but it is tax free when you withdraw it at retirement age. ) Individual Retirement Account ( I.R.A ) – You invest money which is tax deferred ( You can deduct it from your income when you figure your which save you on taxes but you will pay when you withdraw it at retirement age. You are not allowed to invest as much per year as you can with a 401k Plan. You have more choices of companies/funds you can invest with. Roth I.R.A. – Like a traditional I.R.A. but is not tax deferred. However, all you invested and earnings are tax free when you withdraw it at retirement age. P.F.L. 1.6 How do various investing strategies compare for potential to build wealth? Investments that generally have a greater potential to wealth over the long term also have greater risk over the short term and vice versa. Diversification – Spreading out your money in different types of investments to balance returns versus risk. When you are young it may make more sense to invest more in stocks for greater returns. If the stock market falls, you have time for it to recover. As you get older, it makes sense to shift your investments into less risky ones so that if the stock market falls, you will have preserved your money for when you need in the near future. Levels of Risk : Most ( top ) to Least ( bottom ) Stocks – Invest in publicly traded shares of companies. Share value may go up or down. Dividends – Some stocks pay a percentage of profits to the stockholder on a regular basis ( usually quarterly ). Bull Market – Confidence is high. Stocks tend to rise in Bear Market – Confidence is low. Stocks tend to fall in – Notes from local, state, and federal governments or from companies. You lend them money and they promise to pay a certain rate of interest. Like stocks, they can also be traded.
Consumers should first address complaints directly with a business. State the problem and how you would like to see it resolved. Consumers can contact certain agencies / offices with unsatisfied complaints : Better Business Bureau – Non-profit group that collects complaints on businesses. It lets businesses with good histories use its logo for a fee and will help mediate consumer complaints. N.C. State Attorney General – May file lawsuits on behalf of consumers when a business conducts illegal practices Consumers may hire an attorney to advise them as to their rights and file a civil lawsuit