Ability to pay refers to a financial criterion used in various contexts such as finance, taxation, industrial relations, municipal bonds, and public policy. It represents the capacity of an individual or entity to meet financial obligations based on their income or economic status.
Absolute liability, also known as strict liability, refers to a type of liability where a party can be held responsible for damages or injuries without proof of fault or negligence. This legal principle is often applied when actions are deemed contrary to public policy, regardless of intent.
A comprehensive plan is a set of guidelines developed and adopted by a local government to govern public policy toward future land development within the jurisdiction.
A government program that requires payment to anyone who meets specific qualifications, ensuring those who qualify are entitled to the payments. Examples include Social Security, Medicare, and food stamps.
Externalities are costs or benefits that affect third parties who did not choose to incur those costs or benefits, often a consideration in economics and public policy.
In economics, an externality represents a cost or benefit incurred by an economic agent that is not reflected through financial transactions. They can be positive or negative and can affect both individuals and businesses, with common examples including environmental pollution and increased local prosperity.
In various domains such as business law, taxation, and international business, the term 'GOV' refers to governmental bodies, regulations, or actions pertaining to public policies, administrative systems, and regulatory frameworks that impact businesses, individuals, and the economy.
The Housing and Urban Development Department (HUD) is a U.S. government agency designed to ensure fair housing standards and affordable housing across the country.
Income redistribution refers to the manner in which personal income is spent across different classes in society. It involves programs and policies aimed at reducing income inequality by shifting wealth from the richer segments of society to the poorer segments.
An interest group is an organized group that seeks to influence public policy or advance a particular position or agenda. These groups often mobilize their members around issues of common concern and may disband once their objectives are achieved or interest wanes.
Lobbying expenditures refer to the amounts paid or incurred in connection with influencing federal or state legislation, or any communication with certain federal executive branch officials in an attempt to influence their official actions or positions. These expenditures are not tax deductible.
The National Bureau of Economic Research (NBER) is a Cambridge, Massachusetts–based private, nonprofit organization committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community.
Public goods are products and services typically provided by the government because they are more effectively managed in the public domain rather than the private marketplace. Examples include national defense, police services, and public parks.
Public Interest refers to values generally thought to be shared by the public at large. However, there is no one public interest; rather, there are many public interests depending upon individual needs.
Constitutional, statutory, or judicial law developed by governments and applied equally to the general public. Contrast with Private Law.
A specific kind of nonprofit organization in the United States exempted from federal income tax under section 501(c)(3) of the Internal Revenue Code. These organizations must fulfill certain criteria related to purpose, earnings, lobbying, and political activities.
The Social Security Act, a cornerstone of the federal retirement plan enacted by Congress in 1935, was designed to create a system where the current working generation finances the retirement of older workers. This program was a response to the socioeconomic challenges posed by the Great Depression.
Wrongful termination or discharge refers to an employee's legal action against a former employer, alleging that the dismissal violated federal or state anti-discrimination laws, public policy, an implied or actual employment contract, or an implied covenant of fair dealing and good faith.
