Gov 18

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Gov 18
2012-01-08 13:37:23
gov chapter 18

gov chapter 18
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  1. social welfare policies
    Provide benefits to individuals
  2. entitlement programs
    Certain individuals qualify regardless of need-Social Security and Medicare
  3. means-tested programs
    programs only for those below the poverty line
  4. income distribution
    various groups' incomes out of the nat'l income
  5. income
    amount of funds between 2 points in time
  6. wealth
    value of assets
  7. poverty line
    • counts poor people
    • what a family needs for a low standard of living
  8. feminization of poverty
    concentration of poverty for women particulary unmarried women with children
  9. progressive tax
    greater percent taken from the rich then the poor
  10. proportional tax
    same percent of income for everyone
  11. regressive tax
    • burden of tax falls primarily on the poor
    • Sales tax
  12. Earned Income Tax Credit
    provides income to the poor instead of taking taxes
  13. transfer payments
    benefits for individuals- Social Security checks, food stamps, low-interest loans, etc.
  14. Social Security Act of 1935
    created SS and AFDC for poor children
  15. Temporary Assistance for Needy Families
    AFDC's new name
  16. Social Security Trust Fund
    Where SS contributions are deposited and where the money for payments comes from
  17. Personal Responsibilities and Work Opportunity Reconciliation Act
    welfare reform law of 1996