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GIFT TAX: A tax on the transfer of assets from one person to another. The gift tax is different from estate and inheritance taxes in that it applies to people who are still alive. In fact, the gift tax was created because people sought to avoid estate and inheritance taxes by giving their stuff away before dying. But all gifts are not taxed. There are both annual and lifetime exemptions on gifts subject to this tax. These exemptions are changed from time to time, so you might want to investigate further if you happened to hit the big jackpot on a television game show. Some, but not necessarily all of that prize is likely to be taxed.
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MANAGED FLEXIBLE EXCHANGE RATE An exchange rate control policy in which an exchange rate that is generally allowed to adjust to equilibrium levels through to the interaction of supply and demand in the foreign exchange market, but with occasional intervention by government. Also termed managed float or dirty float, most nations of the world currently use a managed flexible exchange rate policy. With this alternative an exchange rate is free to rise and fall, but it is subject to government control if it moves too high or too low. With managed float, the government steps into the foreign exchange market and buys or sells whatever currency is necessary keep the exchange rate within desired limits. This is one of three basic exchange rate policies used by domestic governments. The other two policies are flexible exchange rate and fixed exchange rate.
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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store wanting to buy either a set of tires or a birthday gift for your grandfather. Be on the lookout for strangers with large satchels of used undergarments.
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A half gallon milk jug holds about $50 in pennies.
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"The past cannot be changed. The future is yet in your power. " -- Hugh White, U.S. Senator
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MGE
Minneapolis Grain Exchange
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