4.6
A shift in support to a candidate who leads in public opinion polls.
What is the bandwagon effect?
A comprehensive set of ideas and beliefs.
What is an ideology?
Characteristics: Urban residents, they challenge government and big business corruption, environmentalists.
Conservative on: Not much. However, some Progressive factions are very religious (love-based faith).
Liberal on: Economic, Social and moral Issues (Government should help the poor, disadvantaged, and environment. Supports taxing the wealthy and social equality).
What is a progressive?
How the government manages the supply of currency and value of the US dollar.
FEDERAL RESERVE BOARD- “The Fed”:
Sets this policy by: Buying and selling bonds, Regulating reserves at commercial banks & setting discount rates- rate of actual loaned dollars to the banks, and Setting interest rates
Regulating Inflation: Reserve requirements for banks and rates for gov. bonds (IOU’s) are set.
What is monetary policy?
A board of seven governors who serve for 14 years and rotate as chairman.
What is the Federal Reserve Board?
Predicting election winners based on polling data.
What is horse racing?
Divisive issues that are intensely important to a party or group.
What is saliency?
(An influence on public policy) Government will adjust policy based on the will of the majority; often seen first at state and local levels.
What is a majoritarian?
Allowed Congress to tax people’s income.
What is the 16th Amendment?
Government services promised BY LAW to citizens (included in Congress’ Mandatory Spending obligations).
Who are entitlements?
Voters may not be honest with Pollsters about who they are voting for.
What is social-reliability bias?
Political ideologies that do not simply fall on the linear "Liberal-Conservative" spectrum.
What is Off-The-Line?
The Government needs to oversee fluctuating demand and spending by the people.
Low Demand = more gov. spending and/or less taxes.
High Demand= increase taxes (mostly on the wealthy) and/or decreases in spending.
What is Keynesian Economics?
Oversees the tax collection process.
What is internal revenue service?
Health insurance for 65+. Makes up almost 20% of the federal budget, along with Medicaid.
What is Medicare?
Polls show favor with candidates from minority groups, but election results do not always reflect that.
What is the Bradley Effect?
Characteristics: Generally opposed to government intervention in all matters.
Conservative on: Economic Issues (Against a minimum wage, social welfare, and business regulations).
Liberal on: Social and moral Issues (Supports LBGTQ rights, pro-choice, gender and race equality).
What is a libertarian?
Laissez Faire approach (Free-Market).
Natural laws of economics- like supply and demand, will guide the economy.
Less government taxing = more spending $$= more jobs.
The gov. will acquire revenue through state sales taxes and corporate profits.
What are supply-side economics?
Increased income means increased taxes.
What is progressive tax?
Health insurance for those in poverty. Makes up almost 20% of the federal budget, along with Medicare.
What is Medicaid?
People who don’t trust media won’t participate in a poll.
What is non-response bias?
Characteristics: Religious, patriotic, lower-income, mostly rural.
Conservative on: Social & Moral Issues (Against abortion, sexual freedom, immigration, anti-Christian morals).
Liberal on: Economic Issues (Supports workers protections, minimum wage, farm subsidies, welfare).
What is a populist?
The part of economic policy that is concerned with government spending and taxation.
ARTICLE I: Congress has the power to lay and collect taxes.
16th Amendment.
IRS.
Taxes: Liberals support a Progressive Tax Conservatives support a Flat Tax.
BALANCING THE BUDGET: Partisanship has made it difficult to agree on government spending
What is fiscal policy?
All pay the same rate for taxes.
What is flat tax?
A government-provided insurance option for all people; created because of high costs & limitations by private insurance companies.
What is the Affordable Care Act?