Taxes
Bringing in government revenue.
What is the main purpose of taxes?
This is the budget step prior to approval.
What is "Budget Preparation"?
The President, Governor, or Mayor.
Who is the Chief Executive?
This is the main type of Congressional grouping that works with the budget.
What are (Budget/Appropriations) Committees?
People aim to maximize this.
What is utility?
Concerns itself with who pays the tax.
What is "equity" in regards to taxation
The step in the process where program compliance is measured.
What is the "Audit and Evaluation" phase?
These are focused on the impactful results of a program. Mainly in regard to a perceived need.
What are outcomes?
These are examples of legislative oversight.
What are direct channels, investigations, detail appropriations language, or the legislative veto.
This is a conceptual idea of people buying and selling goods.
What is the Market Model?
Social Security, Medicare, and State Unemployment.
What are FICA taxes?
At any given point, three of these can be occurring at the same time.
What are overlapping budget cycles?
This is the final summary of the executive's proposal.
What are Budget Documents?
This is a non-binding action that is usually the first step in the approval process.
What are Authorizations?
This is what economic policy strives for.
What is a level of economic growth that produces full employment without unacceptable inflation?
They pay for the majority of education expenses in local municipalities.
What are property taxes?
This administrative office deals primarily with the preparation process.
What is the Office of Management and Budget?
These are examples of mandatory spending.
What are Medicare/Medicaid, Debt spending, Social Security, or Retirement plan contributions?
This is the internal document Congress uses during the approval process.
What is the Budget Resolution?
This is something that hovers around 2-3% annually.
What is the ideal inflation amount?
In terms of vertical equity, our income tax is this.
What are progressive taxes?
These are the dates of the Federal Fiscal Year.
What is October 1st to September 30th?
This is the ability to guess revenue by setting appropriate tax rates.
What are deterministic models?
These were the two laws that created the budget process we have today.
What are the Budget and Accounting Act (1921) and the Congressional Budget and Impoundment Control Act (1974)?
What are Money Market and Savings Accounts?