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28 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Ability-to-pay Theory of Taxation
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The approach to government finance that holds that taxes should be based on an individual's financial resources.
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Children's Health Insurance Program
(H) |
A federal program designed to provide health insurance to children from low-income families who's parents are not poor enough to qualify for Medicaid.
(H) |
(CHIP)
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Corporation Franchise Tax
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A state tax levy assessed on corporations.
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Employees Retirement System (ERS) Trust Fund
(H) |
A pension fund for state employees.
(H) |
(ERS) Trust Fund
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Excise Tax
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A tax levied on the manufature, transportation, sale, or consumption of a particular item or set of related items.
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Federal Grant-in-aid Program
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Programs through which the national government gives money to state and local governments for expendature in accordance with set standards and conditions.
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Fiscal Year
(H) |
Budget year.
(H) |
(FY)
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Food Stamp Program
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A federal program that provides vouchers to low-income families and individuals that can be used to purchase food.
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General Fund
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A state treasury account that supports state programs and services without restriction.
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Incremental Model of Budgeting
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A theoretical effort to explain the budget process on the basis of small (incremental) changes in budget categories from one budget period to the next.
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Individualistic Political Culture
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An approach to government and politics that emphasizes private initiative with a minimum of government interference.
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Matching Funds Requirement
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A legislative provision that the national government will provide grant money for a particular activity only on condition that the state or local government involved supply a certian percentage of the total money required for the project or program.
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Pari-mutuel Wagering
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A system for gambling on horse and dog racing.
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Parole
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The conditional release of convicted offenders from prison to serve the remainder of their sentences in the community under supervision.
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Per Capita
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Per Person.
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Performance-based Budgeting
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A system of budget preparation and evalutation in which policymakers identify specific policy goals, set performance targets for agencies, and measure results.
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Political Culture
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The widely held, deeply rooted political values of a society.
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Progressive Tax
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A levy whose burden weighs more heavily on on persons earning higher incomes than it does on individuals making less money.
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Proportional Tax
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A levy that weighs equally on all persons, regardless of their income.
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Recession
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An economic slowdown charaterized by declining economic output and rising unemployment.
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Regressive Tax
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A levy whose burden weighs more heavily on low income groups than wealthy taxpayers.
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Sales Tax
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A levy on the retail sale of taxable items.
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Severance Tax
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A tax levied on natural resources at the time they are taken from the land or water.
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Sin Tax
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A levy on an activity that some people consider morally objectional, such as drinking or smoking.
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Tax Elasticity
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The extent to which tax revenues rise as personal income rises.
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Tax Incidence
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The point at which the actual cost of tax falls.
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Temporary Assistance for Needy Families
(H) |
A federal program that provides temporary financial assistance and work opportunities to needy families.
(H) |
(TANF)
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Texas Teacher Retirement System (TRS) Trust Fund
(H) |
A pension fund for the state's public school teachers.
(H) |
(TRS) Trust Fund
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