Unit 4 Flashcards
Political party
According to Anthony Downs, a “team of men seeking to control the governing apparatus by gaining office in a duty constituted election”
Rational-choice theory
A popular theory in political science to explain the actions of voters as well as politicians. It assumes that individuals act in their own best interest, carefully weighing the costs and benefits of alternatives
Party Identification
A citizen’s self-proclaimed preference for one party or the other
Social Welfare Policies
Policies that provide benefits, cash or in kind, to individuals based on either entitlement or means testing
Laissez-Faire
The principle that government should not meddle in the economy
Keynesian Economic Theory
Named after English economist John Maynard Keynes, the theory emphasizes that government spending and deficits can help the economy deal with its ups and downs. Proponents of this theory advocate using the power of government to stimulate economy when it is lagging
Supply-Side Economics
An economic theory, first applied during the Reagan administration, holding that the key task for fiscal policy is to stimulate the supply of goods, as by cutting tax rates
Entitlement programs
Government programs providing benefits to qualified individuals regardless of need
Progressive Tax
A tax by which the government takes a greater share of the income of the rich than of the poor–For example, when a rich family pays 50 percent of its income in taxes, and a poor family pays 5 percent
Third Parties
Electoral contenders other than the two major parties. American third parties are not unusual, but they rarely win elections
Proportional Tax
A tax by which the government takes the same share of income from everyone, rich and poor alike
Regressive Tax
A tax in which the burden falls relatively more heavily on low-income groups than on wealthy taxpayers. The opposite of a progressive tax, in which tax rates increase as income increases.
Party Realignment
The displacement of the majority party by the minority party, usually during a critical election period.
Medicare
A program added to the Social Security system in 1965 that provides hospitalization insurance for the elderly and permits older Americans to purchase inexpensive coverage for doctor fees and other medical expenses
Medicaid
A public assistance program designed to provide healthcare for poor Americans and funded by both the states and the national government