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19 Cards in this Set
- Front
- Back
Social welfare policies
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Policies that provide benefits to individuals, either through entitlements or means-testing.
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entitlement programs
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Government benefits that certain qualified individuals are entitled to by law, regardless of need.
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means-tested programs
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Government programs available only to individuals below a poverty line.
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income distribution
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The "shares" of the national income earned by various groups.
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income
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The amount of funds collected between any two points in time.
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wealth
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The value of assets owned.
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poverty line
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A method used to count the number of poor people, it considers what a family must spend for an "austere" standard of living.
an annual income of $12,803 for a family of three as of 1998. |
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feminization of poverty
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The increasing concentration of poverty among women, especially unmarried women and their children.
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progressive tax
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A tax by which the government takes a greater share of the income of the rich than the poor - for example, when a rich family pays 50 percent of its income and a poor faily pays 5 percent.
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proportional tax
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A tax by which the government takes the same share of income from everyone, rich and poor alike - for example,when a rich family and a poor family both pay 20 percent.
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regressive tax
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A tax in which the burden falls relatively more heavily upon low-income groups than upon wealthy taxpayers. The opposite of a progressive tax, in which tax rates increase as income increases.
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Earned Income Tax Credit (EITC)
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A "negative income tax" that provides income to very poor individuals in lieu of charging them federal incom taxes.
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transfer payments
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Benefits given by the government directly to individuals. Payments may be either cash transfers, such as Social Security payments and retirement payments to former government employees, on in-kind transfers, such as food stamps and low-interest loans for college education.
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Social Security Act of 1935
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Created both the Social Security Program and a national assistance program for poor children, usually called "AFDC."
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Personal Responsibility and Work Opportunity Reconciliation Act (PRWORA)
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The official name of the "welfare reform" law of 1996.
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Temporary Assistance for Needy Families (TANF)
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Once called "Aid to Families With Dependent Children," the new name for public assistance to needy families.
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Social Security Trust Fund
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The "bank account" into which Social Security contributions are "deposited" and used to pay out eligible recipients.
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Privatization of Social Security
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Reducing individual contribution to Social Security system, instead putting the money into a private account, a stock, a bond, or another investment.
Limited - diverting a percentage Complete - diverting entirety |
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"in-kind payment"
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Government distribution of something with cash value that is not cash itself (such as food stamps or low-interest loan for college education).
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