Chapter 15 Flashcards
Capitol Gains Tax
money collected from government if you make a profit
Deficit
An excess of federal expenditures over federal revenues.
Discretionary spending
Federal spending on programs that are controlled through the regular budget process
Economic policy
A government policy for maintaining economic growth and tax revenues.
Entitlements
A claim for government funds that cannot be abridged without violating the rights of the claimant; for example, social security benefits or payments on a contract.
Excise taxes
Taxes placed on manufactured products. The excise tax on whiskey helped raise revenue for Hamilton’s program.
Formal agenda
set of items up for explicit, active, and seriouse considerations by authoratative decison makers
Implementation
The process of putting a law into practice through bureaucratic rules or spending.
Mandatory spending
Federal spending required by law that continues without the need for annual approvals by Congress.
Means Testing
a procedure that determines eligibility for government public-assistance programs. A potential beneficiary must show a need and an inability to provide for that need
National Debt
the debt of the national government (as distinguished from the debts of individuals and businesses and political subdivisions)
Policy Elites
group leaders who follow the news in a specific area (using magazines, newspapers etc), they take the news and use it to influence policy or policy makers
Policy Entrepreneurs
Activists in or out of government who pull together a political majority on behalf of unorganized interests.
Policy Evaluation
the process of determining whether a course of action is achieving its intended goal
Poverty Level
a minimum income level used as an official standard for determining the proportion of a population living in poverty
