• Briefly explain the statement “Tax equity increases when more types of wealth are included.” calculated based on the net worth of the person or couple (families). It would be difficult for tax collectors to determine every single component of a person's net worth. • Trace the history of education financing from its inception to the present. There are 4 to 5 identifiable eras depending on the author. (It is found in chapter 7 0f of the text.) • Local responsibility: the community or church financed the schools. • Grants and Advance Appropriations: Schools were granted additional funding to improve school programs. • Emergence of the Foundation Program concept: Flat-rate grant organizational approach to equitable education across school districts. • Refining the Foundation Program Concept: A formula was created by Harlan Updegraff in 1922 to allow funding to level the playing field from school to school, allowing funds where they are needed most. • Equalizing Power: State and local tax funds will work together to equalize