estate tax a tax imposed on the value of an inheritance

income a flow of money received, often measured on a monthly or an annual basis

income inequality when one group receives a disproportionate share of total income or wealth than others

Lorenz curve a graph that compares the cumulative income actually received to a perfectly equal distribution

of income; it shows the share of population on the horizontal axis and the cumulative percentage of total

income received on the vertical axis

Medicaid a federal–state joint program enacted in 1965 that provides medical insurance for certain (not all)

people with a low-income, including those near the poverty line as well as those below the poverty line,

and focusing on low-income families with children, the low-income elderly, and people with disabilities

poverty the situation of being below a certain level of income one needs for a basic standard of living
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