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VALUE-ADDED TAX: A tax on the extra value added during each stage in the production of a good. Most of the stuff our economy produces goes through several "stages," usually with different businesses. In each stage, resources do their thing to the good to make it a little more valuable. For example, an ice cream store can take 50 cents worth of ice cream, fudge, and whipped topping and turn it into a hot fudge sundae that's valued at $1.50. The efforts of the ice cream resources thus add $1 in value. A value-added tax is based on this extra value. While it's been debated off and on in the United States, a value-added tax is commonly used in Europe.
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PER UNIT TAX A tax specified as a percentage of the quantity of a good, service, asset, or other activity. Per unit taxes are often imposed on specific goods or markets. A common per unit tax is that levied on gasoline. People pay a given tax for each gallon of gasoline purchased, regardless of the price of gasoline. An alternative is an ad valorem tax, with is a tax specified as a percentage of the value or price of a good.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either an ink cartridge for your printer or a rechargeable battery for your camera. Be on the lookout for broken fingernail clippers.
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This isn't me! What am I?
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The average bank teller loses about $250 every year.
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"Every generation of Americans needs to know that freedom exists not in doing what we like, but in having the right to do what we ought. " -- Pope John Paul II
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APT
Arbitrage Pricing Theory
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