Unit 8: social Flashcards
GST
Goods and services tax
A federal sales tax in Canada
Ex. Buying products such as clothing that the tax money goes to the government by the companies
Health insurance
An agreement by a company to pay for your health services, in exchange for a fee that you pay each month or each year
Ex: Helps you to not have to pay for every check up or surgery seperatly
Income tax
Tax based on a percentage of a persons income
Ex: millionaires would pay more in taxes than an average minimum wage worker
Median
A concept in statistics that means the middle number in a set of data organized in order of least to most
Ex: using number lines to show the medians of different numbers
Black market
Another term for underground economy
Ex: drug trades
Private health care
Health care paid for by individuals
Ex: only in the U.S and people become in debt or very ill cause they don’t have enough money for the fees
Profit
Monet made from a product or service above and beyond the cost of providing the product or service
Ex: candy stores sell “cheap” candy for a higher profit
Public health care
Health care pair for by taxes
Ex: in Canada we have free healthcare from the taxes that we pay
Sales tax
The more money that you spend on products and services, the more taxes that you pay
It is based in the percentage of the price of the product or service
Ex: the money is paid to the government for the product as taxes
Social program
Services provided by the government to reduce economic inequalities and promote the well-being of citizens
Ex: mustard seed- gives free meals to the homeless/ poor for free
Tax evasion
Misrepresenting what you earn to avoid paying taxes
Ex: a personal landscaping company may ask to only be paid with cash so the government can’t track the money they earn and charge them with taxes
Taxation model
Government policies about taxation, such as what to tax
Underground economy
Economic activity based on buying and selling products and services illegally
Ex: black market ( drug deals)
Difference in health care between Canada and the U.S
U.S: private health care that requires you to pay personally
Canada: health care is public and payed for by taxes given to the government
Who receives pensions and when?
At age 65 all citizens who have lived in Canada for at least 10 years after the age of 18, automatically qualify for the monthly pensions paid by taxes that the federal government funds provide
Who pays taxes?
Anyone who is buys a product or pats for a service is paying taxes to the government, no matter what age or whether you are a citizen or not
What parties support health care in Canada?
All Canadian parties support the health care in many forms!
Who is responsible for creating the free health care system?
Tommy Douglas
Difference between social program funding between a mixed it market economy
Mixed: only provide some social programs that are paid with taxes
Market: government provides NO social programs
Can a political party change their platforms?
Yes! Thy can hold elections after consulting with their constituents in electrical ridings to see what the voters have an opinion on and they can change their benefits and values, therefor changing their platform
What is the median income of families in Alberta in 2005?
If your family earned an average income of $67000, you would end up paying $11000 in taxes in a year
Canada health act
A federal law that sets out 5 principles for healthcare: Publicly administered Comprehensive Universal Portable Accessible
Consensus
Each person respects the ideas of others and work as a whole group to solve problems
Key issues in the Conservative Party platform (8)
Crime,Government accountability, child care, environment, health care, leadership, lower taxes, sovereignty in the Arctic
Who collects and how often are sales taxes collected in Canada
Government collects taxes to pay for services for citizens
Collected whenever you buy a product or service ( pay off eventually)
What percentage of Canadian families pay on their income tax
17% of their income is payed as taxes
Requirements for becoming a member of a political party in Canada
Resident of Canada
At least 14 years old
Endorse the principles of the party
Not a member of any other political party
Regulations to start a new political party in Canada
18 or older
Have the endorsement of at least 250 eligible voters in Canada
Have a name
Run at least one candidate during a federal election
(5) Canada’s political parties
(2) U.S political parties
Bloc Quebecas Conservative party Green Liberal NDP
Mixed economy
Canada: people and government both involved
Market economy
U.S: all individually involved
Planned economy
All government involved
Shift left
NDP, Demicratic
Middle
Liberal, republican
Shift right
Progressive Conservative
Private health care
Health care paid for by individuals
Ex: only in the U.S and people become in debt or very ill cause they don’t have enough money for the fees
Profit
Monet made from a product or service above and beyond the cost of providing the product or service
Ex: candy stores sell “cheap” candy for a higher profit
Public health care
Health care pair for by taxes
Ex: in Canada we have free healthcare from the taxes that we pay
Sales tax
The more money that you spend on products and services, the more taxes that you pay
It is based in the percentage of the price of the product or service
Ex: the money is paid to the government for the product as taxes
Social program
Services provided by the government to reduce economic inequalities and promote the well-being of citizens
Ex: mustard seed- gives free meals to the homeless/ poor for free
Provincial ex: Alberta healthcare system
Federal ex: mustard seed in Edmonton ( only available to people there)
Tax evasion
Misrepresenting what you earn to avoid paying taxes
Ex: a personal landscaping company may ask to only be paid with cash so the government can’t track the money they earn and charge them with taxes
Taxation model
Government policies about taxation, such as what to tax ( incomes, purchases) how much tax and how to spend taxes
Ex: your income and how much you spend will affect your overall taxes
