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AP Gov. Chapter 14
Terms in this set (43)
A policy document allocating burdens (taxes) and benefits (expenditures).
An excess of federal expenditures over federal revenues.
Government Spending of revenues. Major areas of federal spending are social services and national defense.
The financial resources of the government. The individual income tax and the social security tax are two major sources of federal revenue.
About 9 percent of all current budget expenditures go to just paying the...
interest on the debt.
A tax levied on the manufacture, transportation, sale, or consumption of a good.
Three major sources of federal revenues are..
Personal and corporate income tax, social insurance tax, and borrowing.
Shares of individual wages and corporate revenues collected by the government. The 16th amendment explicitly authorized Congress to levy a tax on income.
Pollock v. Farmers's Loan and Trust Co.
1895, Declaring the 1894 income tax unconstitutional. Called it a "communist march".
The constitutional amendment in 1913 that explicitly permitted Congress to levy an income tax.
Internal revenue service, established to collect income tax
Those with more taxable incomes pay more taxes and at a higher rate. Income tax is generally progressive.
Everyone taxed at the same rate.
Social Security taxes go to what specific purpose?
Social Security Trust Find: Pays benefits to the elderly, disabled, widowed, and unemployed.
*Accounts for 36 percent of federal revenues
How does the government borrow?
Treasury Department sells bonds and "intragovernmental" debt on its books.
Most government borrowing is for...
All the money borrowed by the federal government over the years and still outstanding. Today the federal debt is more than $9 trillion.
A budget for expenditures on items that will serve for long term
Revenue losses that result from special exemptions, exclusions, or deductions on federal tax law.
1974 Budget Act defines..
Government no longer received larger share of income when inflation pushed incomes into higher tax brackets while tax rates stayed the same.
Reagan's Tax-Cutting Proposal
Over 3 year period: federal tax bills reduced by 25%, corporate income taxes reduced, and taxes were indexed to the cost of living.
Tax Reform Act of 1986
Eliminated or reduced the value of many tax deductions, removed several million low-income individuals from the tax rolls, and greatly reduced the number of tax brackets.
**Passed under Reagan
Military Industrial Complex
The close relationship between the military hierarchy and the defense industry that supplies its hardware needs.
Income Tax, amounts for much less of the federal budget than individual income tax
A bundle of policies extending direct and indirect aid to the elderly, poor and the needy.
Social Security Act
1935, law passed during the Great Depression that was intended to provide a minimal level of sustenance to older Americans and thus save them from poverty.
Program added to Social Security system in 1965 that provides hospitalization insurance for the elderly and permits older Americans to purchase inexpensive coverage for doctors fees and other health expenses.
A description of the budget process where the best predictor of this year's budget is last year's budget plus a little bit more (an increment).
Expenditures that are determined not by a fixed amount of money appropriated by Congress but by how many eligible beneficiaries there are for a program or by previous obligations from the government.
Policies for which Congress has obligated itself to pay X level of benefits to Y number of recipients. Social Security benefits are an example.
The Government Accountability Office
GAO works as eyes and ears, auditing, monitoring, and evaluating what agencies are doing with their budgets.
Office of Management and Budget, responsible to the president, supervises preparation of the federal budget and advises the President on budgetary matters
House Ways and Means Committee
The House of Representatives that, along with the Senate Finance Committee, writes the tax codes, subject to the approval of Congress as a whole.
Congressional Budget and Impoundment Control Act of 1974
An act designed to reform the congressional budgetary process. Its supporters also hoped that it would make Congress less dependent on the president's budget and better able to set and meet its own budgetary goals.
- A fixed budget calendar
- A budget committee in each house
- A Congressional Budget Office
Congressional Budget Office
Advises Congress on the probable consequences of their decisions, forecasts revenues, and is a counterweight to the president's Office of Management and Budget.
A resolution Binding Congress to a total expenditure level, supposedly the bottom line of all federal spending for all programs.
A congressional process through which program authorizations are revised to achieve required savings. It usually also includes tax or other revenue adjustments.
An act of Congress that establishes, continues or changes a discretionary government program or an entitlement. It specifies program goals and maximum expenditures for discretionary programs.
An act of Congress that actually funds programs within limits established by authorization bills. Appropriations usually cover one year.
When Congress cannot reach agreement and pass appropriation bills, these resolutions allow agencies to spend at the level of the previous year.
Balanced Budget and Emergency Deficit Control Act
Better known as the Gramm-Rudman-Hollings act, 1987, mandated maximum allowable deficit levels for each year until 1993, when the budget was supposed to be in balance. If Congress failed to meet the deficit goals, automatic across-the-board spending cuts, called sequestrations, were to be ordered by the president.
What 3 categories was discretionary spending divided into?
domestic, defense, and international
Why did colonist leaders hold a conference in Albany, New York, in 1754?
Compare and contrast differing ways members of Congress serve as representatives of their constituents (trustee, delegate, politico). Does sociological/descriptive representation matter, why or why not?
Which types of federal courts were formed under Article III to exercise "the judicial Power of the United States"?
Once the Constitutional Convention was completed, the drive for ratification in the states began. Those who favored ratification were known as
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