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Social Welfare policies
Policies that provide benefits to individuals, either through entitlements or means testing.
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Entitlement programs
Government benefits that certain qualified individuals are entitled to by law, regardless of need. 5 of every 6 dollars for social programs go to entitlement programs (top three: social security, medicare, medicaid)
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Social Ensurance
- Two forms:
- 1) Entitlement Programs
- 2) Means tested
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income distribution
The "shares" of the national income earned by various groups.
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income
The amount of funds collected between any two points in time.
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wealth
The value of assets owned
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poverty line
A method used to count the number of poor people, it considers what a family must spend for an "austere" standard of living.
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feminization of poverty
The increasing concentration of poverty among women, especially unmarried women and their children.
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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% of its income in taxes, and a poor family pays 5%.
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proportional tax (flat tax)
A tax by which the government takes the same share of income from everyone, rich and poor alike - for examp
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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 ta, in which tax rates increase as income increases.
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Earned income tax credit
A "negative income tax" that provides income to very poor individuals n lieu of charging them federal income taxes.
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transfer payments
Benefits given by the government directly to indiviuals. Transfer payments may be either cash transfers, such as Social Security payments and retirement payments to former government employees, or in-kind transfers, such as food stamps and low-interest loans for college education.
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Social Security Act of 1935
Created both the _______ and a national assistance program for poor children usually called AFDC.
Blank: Social Security Program
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Means Tested benifits
- Available to those below poverty line
- Eligibility: must prove your eligible
- "Deserving" disability, loss of "bread winner" (widow)
- Controversial- welfare
- "in kind" benefit - not monetary but has worth ie. food-stamps free breakfast/lunch
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Personal Responsibility and Work Opportunity Reconciliation Act
The official name of the welfare reform law of 1996
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Temporary Assistance for Needy Families
Once called "Aid to Families with Dependent Children", the new name for public assistance to needy families.
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Social Security Trust Fund
The "bank account" into which Social Security contributions are "deposited" and used to pay out eligible recipients.
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