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INDIVIDUAL RETIREMENT ACCOUNT: A savings retirement account set up with a bank, mutual fund, brokerage firm that allows people to set aside a portion of their income each year. Like other private pension plans, income diverted to an individual retirement account (or IRA) is tax deferred, that is, taxes on not paid on the income until it is withdrawn during retirement.
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ABILITY-TO-PAY PRINCIPLE A taxation principle stating that taxes should be based on the ability to pay taxes. The ability-to-pay principle works from the proposition that those who have the greatest income should pay the most taxes. The ability-to-pay principle is the only reasonable way to finance the provision of public goods such as national defense, public health, and environmental quality. This is one of two taxation principles. The other is the benefit principle, which states taxes should be based on the benefits received.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for the happiest person in the room.
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This isn't me! What am I?
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"There are two big forces at work, external and internal. We have very little control over external forces such as tornadoes, earthquakes, floods, disasters, illness and pain." -- Leo Buscaglia, Author
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NYBID
New York Interbank Bid Rate
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