UNIT 4

Top 1%

The wealthiest individuals in America who possess 40% of the country's wealth.

Bottom 40%

The least wealthy individuals in America who share only 7% of the country's wealth.

Social Security

A government program that provides financial support to retired and disabled individuals.

Entitlement

Benefits received by individuals who did not work for them.

Redistribution of income

The transfer of wealth from higher-income individuals to lower-income individuals.

Medicare

A national health insurance program in the United States.

Unemployment Insurance

Financial assistance provided to individuals who are unemployed and actively seeking employment.

Brady boom

A period of economic growth and increased government spending.

Cost of health care

The expenses associated with medical treatment and services.

Better health care

Improved quality and accessibility of medical services.

Decrease birth rates

A decline in the number of births in a population.

Signal payer system

A system where everyone contributes financially.

Stock market

A marketplace where shares of publicly traded companies are bought and sold.

Upper limit

The maximum income threshold subject to certain taxes or contributions.

Education

Support provided for housing and schooling, particularly for military personnel.

No Child Left Behind

A policy aimed at improving educational outcomes for all students.

Race to the Top

A competitive grant program promoting educational reform, including charter schools.

Pell Grants

Financial aid provided to students for college education.

Affordable Care Act (Obama Care)

Legislation requiring health insurance coverage and providing various benefits and subsidies.

Pre-existing conditions

Medical conditions that exist before obtaining health insurance coverage.

Birth control covered

Contraceptive methods included in health insurance coverage.

Subsidies to small business

Financial assistance provided to small businesses to support their operations.