Affordable Care Act Overview

Questions and Answers

What is a consequence of the cap at $106,800 on Medicare contributions?

Higher earners pay a smaller percentage of their income. (correct)

The cap is irrelevant to overall Medicare funding.

Higher earners pay a higher percentage of their income.

Lower earners incur a higher tax burden.

Which articles of the U.S. Constitution define the balance of war powers between the President and Congress?

Article II and Article IV

Article II and Article V

Article I and Article III

Article I and Article II (correct)

What factor has NOT contributed to the expansion of presidential powers since the Constitution's ratification?

Partisan politics

Political culture changes

Federal government growth

Constitutional amendments regarding powers (correct)

How did George Washington's actions during the Revolutionary War influence the presidency?

His resignation showed commitment to democracy and balance of power. Signup and view all the answers

What is a key legal example related to presidential war powers?

The Steel Seizure case Signup and view all the answers

What does the Individual Mandate require individuals to do?

Obtain health insurance or pay a penalty Signup and view all the answers

What mechanism does the U.S. use to elect its president?

Electoral College system Signup and view all the answers

Which two states do not follow the winner-takes-all system in the Electoral College?

Maine and Nebraska Signup and view all the answers

What is the primary purpose of the FICA tax?

To support Social Security and Medicare Signup and view all the answers

How does the Affordable Care Act help individuals with pre-existing conditions?

It prevents denial of coverage Signup and view all the answers

What would likely happen to Social Security Trust funds starting around 2023?

They will start shrinking Signup and view all the answers

What is one potential outcome if the Social Security Trust is depleted by 2030-2040?

Higher taxes or reduced benefits Signup and view all the answers

What do early caucuses and primaries impact in the U.S. election process?

They influence candidate momentum Signup and view all the answers

Study Notes

Affordable Care Act (ACA)

Also known as "ObamaCare," it mandates health insurance coverage or imposes a penalty on those without it.
Protects individuals from denial of coverage due to pre-existing conditions.
Establishes state-run Insurance Exchanges for easier health insurance policy comparisons.
Provides government subsidies to support lower-income individuals in obtaining health insurance.
Funding primarily originates from increased Medicare taxes levied on higher income earners.

Fiscal Cliff

Details a potential economic downturn scenario if the budget agreements are not met.
Contrasts Obama’s 2013 budget proposal with Republican budget ideals, both aiming to reduce national deficit.
Obama’s approach focuses on raising taxes on the wealthy and increased government spending.
Republicans emphasize spending cuts as their method for deficit reduction.

U.S. Electoral College

Presidents are elected through the Electoral College, not directly by popular vote.
Each state’s electors are determined by its number of Congressmen.
Most states utilize a winner-takes-all system, while Maine and Nebraska have a proportional system.
A candidate can win the national popular vote but still lose the Electoral College, influencing campaign strategies focused on swing states.

Primaries and Caucuses

National conventions are used to select political party candidates in the U.S.
Delegates are chosen through caucuses and primaries; primaries reflect popular vote percentages.
Some states employ a winner-takes-all method for delegate selection, while caucuses involve local gatherings and multiple selection stages.
Early caucuses and primaries, like those in Iowa and New Hampshire, can significantly influence candidate momentum.

Social Security, known as OASDI, provides financial benefits to retirees, survivors, and the disabled, funded through current worker contributions.
The Social Security Trust is projected to shrink starting around 2023, with potential depletion occurring between 2030-2040, raising concerns over future taxes and benefits.
The FICA tax (Federal Insurance Contributions Act) at 15.3% supports Social Security and Medicare, with splits between employer and employee contributions.
For Social Security, 12.4% is allocated, while Medicare receives 2.9%, but the regressive nature of FICA tax caps at $106,800 favors higher earners.

Presidential Powers and Challenges

Article II of the U.S. Constitution designates the President as Commander-in-Chief while reserving war declarations for Congress under Article I.
This division has led to legal debates, notably the Steel Seizure case and the War Powers Resolution, regarding the balance of powers.
The President possesses emergency powers to act swiftly but requires Congressional approval for significant military actions.

Influence of George Washington

Washington’s leadership during the Constitutional Convention greatly influenced the presidency's establishment.
Renowned for his virtue and restraint, Washington set a model for presidential conduct.
His voluntary resignation as commander of the Continental Army reinforced his commitment to republican values and the idea of a balanced government.

Description

This quiz explores key aspects of the Affordable Care Act, commonly known as ObamaCare, including the Individual Mandate and its impact on health insurance coverage. Learn about the changes it brings for pre-existing conditions, state-run Insurance Exchanges, and funding through increased Medicare taxes. Test your understanding of these critical health care reforms.