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PHYSICAL WEALTH: The ownership of productive resources, capital, and property and satisfaction-generating goods. Also termed real wealth. This should be contrasted with financial wealth that is based on ownership of financial or paper assets.
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TAX EQUITY The notion that taxes are imposed on society in a fair and equitable way. The two standards of fairness and equity used to evaluate taxes are the benefit principle -- those who benefit from government pay the taxes, and the ability-to-pay principle -- those with the most income pay the taxes. The ability-to-pay principle gives rise to two additional notions of fairness -- horizontal equity (those with equal incomes pay equal taxes) and vertical equity (those with different incomes pay different taxes).
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a packet of address labels large enough for addresses of both the sender and the recipient or a key chain with a built-in flashlight and panic button. Be on the lookout for defective microphones.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Those who are blessed with the most talent don't necessarily outperform everyone else. It's the people with follow-through who excel. " -- Mary Kay Ash, May Kay Cosmetics founder
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