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Final Exam review - 1 Public Policy a Definition of public...

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1. Public Policy: a. Definition of public policy b. Stages of public policy i. See slides 1-10 c. politics 2. Budget: a. Stages of process Executive Branch: OMB congress: committees, etc. b. Budget manipulation (“antipolitical” budgeting) i. See slide: off- budget spending, spupplementals, impoundment, secret shifting c. Riders and Earmarks: i. Understand what they are d. Budget Deficits: i. Causes of current deficits? Likely to increase because…? Consequences? e. National Debt: i. Enormous—10 trillion 3. Taxes: a. Kinds of taxes: i. Income payroll, property, sales b. Possible purpose taxes: i. See slide 1. Fund government 2. Influence behavior, increase taxes to stop, cuts to increase behavior c. American’s negative attitudes toward taxes i. But compare tax burden with foreign countries d. Theories of taxation; i. Progressive, regressive, flat.
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1. Progressive—bumped up to a higher tax bracket based on income—higher income means paying a greater percentage in taxes ii. Regressive: 1. The tax burden is put on the poorer citizen.—higher percentage based on lower income.
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