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27 Cards in this Set
- Front
- Back
capital gains tax
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tax on unearned income from rents, stocks, and interest
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deficit
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a shortfall between the monies a government takes in and spends
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discretionary spending
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the spending congress actually controls; 33 percent of all spending
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economic policy
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policy aimed at producing a vibrant, healthy and growing economy
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entitlements
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government-sponsored benefits and cash payments to those who meet eligibilty requirements
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excise taxes
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charges on the sale or manufacture of products such as cigarettes, alcohol, and gasoline
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formal agenda
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the policies actually scheduled for debate and potential adoption by congress, the president, the supreme court, or exclusive departments and agencies
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implementation
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the act of providing the organization and expertise required to put into action any policy that has become law; also refers to the actual execution of a policy
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impoundment
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the prsident's refusal to spend funds appropriated by congress
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mandatory spending
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spending that must be allocated by law rather than by appropriations, for entitlements such as social security, medicare and medicaid; 67 percent of the budget
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means testing
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the changing of eligibility for entitlement benefits from everyone receiving benefits to only those with earnings and savings below a predetermined level, in an attempt to save money
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national debt
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the cumulative total of all budget deficits
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office of management and budget (OMB)
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the unit in the executive office of the president whose main responsibilities are to prepare and administer the president's annual budget. a president and the OMB can shape policy through the budget process; the process determines which departments and agencies grow, are cut, or remain the same as the year before
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policy elites
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members of congress, the president, supreme court justices, cabinet officers, heads of key agencies and departments, leading editorial writers, and influential columnists and commentators
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policy entrepreneurs
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leaders who invest in, and who create teh conditions for, a potential group to ecome an actual interest group. ralph nader stands as a classic example of a policy entrepreneur.
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policy evaluation
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the required period of monitoring and analysis of fedral policies following their implementation
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poverty level
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the federally determined income below which a family of four is considered poor
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progressive taxes
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system of taxation in which those who make more money are taxed at a higher rate. an example is the income tax
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public agenda
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the set of topics that concern policy elites, the general public, or both
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public policies
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the decisions, actions, and commitments of government
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regressive taxes
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system of taxation in which taxes take a higher fraction of the income of lower income taxpayers; examples are taxes on gasoline, cigarettes, and alcohol
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regulatory policy
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policy that involves the use of police powers by the federal government to supervise the conduct of individuals, businesses, and other governmental agencies
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social welfare policy
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policy that uses positive incentives (cash assistance, stipends, entitlements, grants, etc) to promote or encourage basic social and economic fairness
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tariffs
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the imposition of import taxes on foreign goods in an attempt to protect a nation's industry and/or labor
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tax expenditures
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deductible expenses that reduce the amount of income subject to taxes; for example, home mortgages, business equiptment, or business-related entertainment
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triggering mechanism
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a critical development that converts a routine problem into a widely shared, negative public response
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workfare
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the requirement that recipients of welfare programs such as AFDC work on public works unless they find employment elsewhere
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