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| being able to decide which school you send your child to, not just being forced to send your child to the neighborhood or district school. Not favored by teachers unions → less influence, favored by republicans. Promotes competition for students in schools, it works |
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| assure people have basic core of information, could be barrier to graduation, main focus of No Child Left Behind; Problems: teachers teach the test, waste of class time, economic problems: very expensive, no way to calculate 100% of all costs, who should pay for it? But without standardized tests, what markers? |
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1) 2002, Biggest Federal intervention into education, initially popular with democrats and republicans but now not with either; education taken for granted→most are products of public education yet it is criticized widely. Top Down program, created federally administered tests for all schools receiving federal funding; failure to meet goals had costs (after 4 years of failing); provided opportunity for students in poor schools to transfer. Does it work: At elementary level reading and math is up, 25% of school districts receiving funding had at least 1 failing school. Is it Fair: poorer, more urban and racially diverse schools have more trouble reaching goals.
2) Replaced by Race to the Top (Obama Administration)→more bottom up; promotes merit pay and charter schools; uses complex point system to determine federal funding. |
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| The theory that someone who is insulated from risk is going to behave differently than from someone who is fully exposed to risk because the risk-taking individual does not see themselves as taking the full consequences of their actions→this comes in to play with health insurance where people have extremely small co-pay or premium prices and therefore act risky because they know it is not going to be very costly to them; whereas someone who pays for everything out of pocket is less likely to be risky in order to prevent excessive expenses. |
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| refers to a market process in which bad or negative results occur because buyers and sellers are exposed to asymmetric, or uneven, information. “Skimming” |
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| Aid to Families with Dependent Children→welfare program from 1965 to 1977 |
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| Temporary Assistance for Needy Families→came from welfare reform legislation of 1996, under 2nd Clinton administration. |
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| Personal Responsibility and Work Opportunity Reconciliation Act→ tied federal grants to past state spending, so the generous states under AFDC were grandfathered into better transfers from the national government; requires work; time limit on benefits; more state discretion; teenage parents must live with their own parents or other adults. Policies enacted seemed to have affected low-income women more strongly with lower unemployment and greater income. |
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| provides benefits to aged, disabled, blind; and families that lose provider to accidental death, etc. Issues: Equity→is regressive but poor get a higher return on their investment; is indexed to inflation. Also an entitlement program, but redistributes across generations. As the population ages so does equity issues. SS Trust Fund: collections that exceed pay outs are placed in a trust fund, it is solvent until 2037 |
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| Social Insurance program administered by US government providing health insurance coverage to those aged 65 and older |
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| Income assistance for the poor for medical expenses, it is a means tested program that is jointly funded by states and the federal government; largest source of funding for medical and health services for people with limited income in the United States. |
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| Unemployment rates—natural, current |
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| not distributed evenly→by race and age; impacts government budgets→loss of revenue and increase in expenditures. Jobs can substitute for social welfare programs; future changes in job sectors. Natural Unemployment: determined by the economy’s supply-side, or production possibilities and economic institutions; therefore if there are mismatches in the labor market or real wages then the natural rate of unemployment may be voluntary. Current Unemployment: extremely high, sitting above 9% average for the U.S. |
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| Biggest question mark is who should pay for cost of education; Sources of Funding: local property taxes. Rethinking Revenue Sources: Sales Tax, property tax redistribution across districts |
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| current course of some education funding. Problems: it falls behind inflation, inelastic and not equitable because it varies across states and within states sales tax properties |
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| put more independence in states and less federal funding. Came about because it didn’t require work for money→some claimed that some women had children for more money; also institutional problems: stigmatized recipients and provided work disincentives. 3 Goals: enforce work requirements, reduce dependency, promoting marriage. |
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| State Children’s Health Insurance Program→designed with the intent to cover uninsured children in families whose incomes that are modest but to high to qualify for Medicaid; 1997; |
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| – One approach of Economic Policy; tax and spend; supply-side economics→pushes for lowing marginal tax rates and lessening regulation. |
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| Another approach of Economic Policy; focuses on micromanaging money supply; and lowers and raises interest rates in sync with contractionary and expansionary periods. |
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| Health insurance coverage in the US (who has it, who doesn't) |
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| Private, employment-based insurance the norm-60%; Medicare for elderly and Medicaid for the poor; 50 million Americans uninsured at any moment in time. Uninsured greatest for Hispanics then blacks then Whites. |
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| Employee Retirement Income Security Act of 1974 → mandated no state regulation of self-insured or plans bought from firms operating nationally |
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| an increase in the cost of goods and services. Consumer Price Index: (CPI) represents average change in price over time of a variety of goods and services. |
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| Medical care funded from a single insurance pool, run by the state; universal health care can be financed from a pool in which many people have contributed. Taiwan Example: looked for best solution to increase coverage at lowest cost, decided on single payer, Canadian model. |
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| The public health insurance option is a proposed government-run health insurance agency, which competes with other health insurance companies. It is not the same as Publicly funded health care. Called the public insurance option or public option, for short, it was a proposed health insurance plan that could be offered by the federal government of the United States |
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| Fee for service health care |
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| payment model where all fees are unbundled and paid for separately; in health care in provides physicians the incentive to provide more treatments, including unnecessary ones, which can be costly and immoral. Dominant physician payment method in the US. |
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| Health maintenance organization |
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| (HMO) provides managed health care for health insurance contracts in the US. The Heath Maintenance Organization Act of 1973 required employers with more than 25 employees to offer federally certified HMO options if the employer had traditional health care options. |
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| 26. Prospective payment system |
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| method of reimbursement in which Medicare payment is made based on a predetermined, fixed amount. The payment amount for a particular service is derived based on the classification system of that service |
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| Small percentage of Americans has more than 50% of wealth; 48% of people will live in poverty at some point in their life. Maldistribution and scarcity; as well as more complex views that are based on individual action |
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| Horizontal Equity: taxation fair within classes. Vertical Equity: taxation fair from top income makers to the lowest income makers. Democrats want to raise income taxes while republicans say that all tax cuts are good. |
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| requires high spending for lower income persons; examples are sales tax in the U.S.; Medicare and social security. |
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| higher incomes should pay higher taxes |
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| US role in higher education policy |
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| Start of federal intervention into education started in higher education→Morrill Act of 1862 which created Land Grant Colleges, Military Academies, GI Bill, Pell grants; Access to higher education is a privilege not a right→Affirmative Action: Adds to diversity of student body, opponents claim it dilutes quality by making a place that is less competitive. States cutting higher education budgets throughout 2000’s→Medicaid eating a lot of the potential funding |
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| considered regressive tax because it impacts the lower income earners more; it costs them a higher percentage of their income to pay for sales taxes then it does for someone in a higher income bracket. |
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| – Charter schools are government supported, but are independent from government; mixed evidence on whether or not they are successful. Same as with Vouchers, the idea is to insert competition for students into schools. |
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| Same as with Charter schools, the idea is to insert competition for students into schools; vouchers valued at a certain amount and typically cannot be used unless area schools are failing or may just be limited to the poor; evidence on whether or not the voucher program works is mixed as well→some show no results, others show modest differences with increased parental satisfaction. |
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| Health insurance tax credits |
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| The HCTC was established to help cover the cost of health insurance for workers who lose their jobs due to foreign trade and individuals whose pensions are trusteed by the PBGC. It is a federally funded program administered by the IRS that pays a portion of qualified health insurance premiums for eligible individuals and their family members. |
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| An answer for why is there poverty→comes from English Common Law; the deserving are those who are very old, disabled and otherwise unfit to work. |
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| An answer for why is there poverty→Comes from English Common Law; those who are capable of working but do not→are not to be supported |
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| 1.45% of all wages for both employers and employees, equally |
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| 40. SSI tax (Social Security) |
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| Funded by payroll taxes from employees and employer. 6.2% up to $106,800 in 2009 for employee and employer. It is the largest share of income for the aged. |
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| Equity→is regressive but poor get a higher return on their investment; is indexed to inflation. |
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