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25 Cards in this Set

  • Front
  • Back
accountability
responsibility for a program's results for example, using measurable standards to hold public schools responsible for the student's performance
ad valorem tax
tax assessed according to value, such as the tax on real property and personal property
affirmative action
positive efforts to recruit ethnic minorities women, and economically disadvantaged. sometimes these efforts are limited to publicity drives among target groups, but such programs have sometimes included ethnicity or gender as part of the qualifications criteria
appropriations
the process by which a legislative body legally authorizes a government to spend specific sums of money to provide various programs and services.
benefits received tax
a tax assessed according to the services received by the payers
CHIP
Childrean Health Insurance Program
Program that provides health insurance for low-income children. It is administered by the state but funded largely by federal grants - in aid
declining marginal propensity to consume
the tendency as income increases, for persons to devote a smaller proportion of their income to consumer spending and a large proportion to savings or investments
general obligation bonds
bonds to be repaid from general taxes and other revenues; such bond issues usually must be approved by voters
general sales tax
a broad bases tax collected on the retail price of most items
gross receipts tax
a tax on the gross revenues of certain enterprises
HCR
Health Care Reform
a comprehensive federal program expanding health insurance coverage with broader Medicare coverage, individual mandates, guaranteedissue requirements, health insurance subsidies, and exchanges
hidden taxes
taxes included in retial prices of goods and services
income redistribution
a public policy goal intended to shift income form one class of recipients to another regardless of whether these programs are designed to benefit lower, middle, or upper income groups
individual mandate
requirements that individuals get health insurance or pay a tax penalty to the federal government
logrolling
trading votes among legislators, especially to fund local projects to benefit their constituents
mass transit
transport systems that carry multiple passengers such as train and bus systems; whether publicly or privately owned, mass transit systems are available to general public and usually charge fare
means test
a standard of benefit eligibility based on need
Medicaid
a program to provide medical care for qualified low income persons; although funded largely by federal grains in aid, it is a state administered program
Medicare
a federal program to provide medical insurance for most persons older than 65 years of age
personal property
tangible possessions other than real estate
progressive tax rates
tax rates that increase as income increases; for example the federal income tax is assessed using progressive rates
severance tax
a tax on raw materials (such as oil and natural gas) when they are extracted from their natural state
socialized medicine
strictly defined, socialized medicine is a health care system in which the government hires medical practitioners who work at government owned facilities to directly provide health care as in Great Britain and in Us veterans and military hospitals. However, the term is often applied to health-care systems in which the government provides health care insurance (such as Medicare) but benefit payments are made to private health care providers
tax base
the object or activity taxed
tax rate
the amount per unit of taxable item or activity