Social Programs & Taxation Models

0.0(0)
studied byStudied by 0 people
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/22

encourage image

There's no tags or description

Looks like no tags are added yet.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

23 Terms

1
New cards

Political platform

Describes the polices of a political party

2
New cards

Planned Economy

An economic system where the government makes all decisions about production, distribution, and prices.

3
New cards

Mixed economy

An economic system that combines government control with free market principles.

4
New cards

Market economy

An economic system where supply and demand determine prices, and businesses operate with little government interference.

5
New cards

Social Programs

Social programs are services provided by the government and paid for by taxes. ​

6
New cards

Taxation Model

A government’s policy on what to tax, how much to tax, and how to use those taxes.

7
New cards

Income Tax

Tax paid on personal earnings to federal and provincial governments.

8
New cards

Sales Tax (GST/PST)

Tax added to goods and services; GST is federal, PST is provincial (not in Alberta).

9
New cards

Property Tax

Tax paid on property ownership, often used to fund local services like schools.

10
New cards

Employment Insurance (EI)

Government payments to individuals who’ve lost jobs and are seeking employment.

11
New cards

Canada Pension Plan (CPP)

Retirement income program funded through payroll contributions, paid back at retirement.

12
New cards

Public Education

Education funded by taxes, usually free from kindergarten through high school.

13
New cards

Child Benefits

Financial support from the government to help families with the cost of raising children.

14
New cards

Universal Healthcare

Health services available to all citizens, funded through taxes without direct payment.

15
New cards

Underground Economy

Economic activity where goods/services are exchanged without government oversight or taxes (e.g., paying cash to avoid sales tax).

16
New cards

Tax Evasion

Illegally avoiding taxes by underreporting income or not paying what is owed.

17
New cards

Federal Government Responsibility

Ensures “peace, order, and good government”; creates laws like the Canada Health Act.

18
New cards

Provincial Government Responsibility

Manages healthcare and other social services within each province.

19
New cards

Canada’s Motto

"Peace, order and good government" – supports collective wellbeing through social programs.

20
New cards

U.S. Motto

"Life, liberty, and the pursuit of happiness" – emphasizes personal freedom and private responsibility.

21
New cards

Corporate Tax

Tax paid by businesses, contributing to funding public services and infrastructure.

22
New cards

Tax Fraud

Claiming you have less money than you actually do, so you pay less taxes.

23
New cards

Good and Services Tax

A federal tax in Canada applied to most goods and services, currently set at 5%.