CHP 7 Flashcards
(18 cards)
bureaucracy
organization with structure, division of labor, rules
spoils system
award jobs for political service
civil service
civilians working for fed gov
executive departments
oversee broad area of government
independent agencies
operate separately from executive departments
independent executive agencies
manage specific aspect of fed. gov. (NASA)
independent regulatory commissions
regulate aspect of economy (ICC)
bipartisan
include members from both parties
government corporations
to achieve public goal (USPS)
income taxes
tax on person/corporations income
progressive tax
rates change based on amount being taxed
payroll tax
withheld from paycheck by employer
regressive tax
greater impact on low-income earner than high-income earners
proportional tax
applied at same rate for all income
mandatory spending
required by law, not subject to annual review (social security)
discretionary spending
subject to annual review, optional
fiscal policy
federal budget/ tax laws
monetary policy
money circulation/interest rates
