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25 Cards in this Set
- Front
- Back
accountability
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responsibility for a program's results for example, using measurable standards to hold public schools responsible for the student's performance
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ad valorem tax
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tax assessed according to value, such as the tax on real property and personal property
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affirmative action
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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
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appropriations
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the process by which a legislative body legally authorizes a government to spend specific sums of money to provide various programs and services.
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benefits received tax
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a tax assessed according to the services received by the payers
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CHIP
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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 |
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declining marginal propensity to consume
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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
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general obligation bonds
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bonds to be repaid from general taxes and other revenues; such bond issues usually must be approved by voters
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general sales tax
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a broad bases tax collected on the retail price of most items
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gross receipts tax
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a tax on the gross revenues of certain enterprises
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HCR
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Health Care Reform
a comprehensive federal program expanding health insurance coverage with broader Medicare coverage, individual mandates, guaranteedissue requirements, health insurance subsidies, and exchanges |
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hidden taxes
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taxes included in retial prices of goods and services
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income redistribution
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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
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individual mandate
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requirements that individuals get health insurance or pay a tax penalty to the federal government
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logrolling
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trading votes among legislators, especially to fund local projects to benefit their constituents
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mass transit
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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
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means test
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a standard of benefit eligibility based on need
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Medicaid
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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
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Medicare
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a federal program to provide medical insurance for most persons older than 65 years of age
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personal property
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tangible possessions other than real estate
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progressive tax rates
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tax rates that increase as income increases; for example the federal income tax is assessed using progressive rates
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severance tax
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a tax on raw materials (such as oil and natural gas) when they are extracted from their natural state
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socialized medicine
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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
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tax base
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the object or activity taxed
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tax rate
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the amount per unit of taxable item or activity
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