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CAPITAL ACCOUNT SURPLUS: An imbalance in a nation's balance of payments capital account in which payments received by the country for selling domestic assets exceed payments made by the country for purchasing foreign assets. In other words, investment by the domestic economy in foreign assets is greater than foreign investment in domestic assets. This is generally a desireable situation for a domestic economy. However, in the wacky world of international economics, a capital account surplus is often balanced by a current account deficit, which is not generally considered a desireable situation. If, however, the current account does not balance out the capital account, then a capital account surplus contributes to a balance of payments surplus.
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AD VALOREM TAX A tax specified as a percentage of the price or value of a good, service, asset, or other activity. Ad valorem taxes tend to be broad based, imposed on activities such as income and retail sales. In fact, the two most important ad valorem taxes are income taxes and sales taxes. People pay a percentage of their incomes in income taxes or a percentage or the value of their purchases in sales taxes, regardless of the amount of time spent working or the quantities of goods purchases. An alternative is a per unit tax, with is a tax specified as a percentage of the physical quantity of a good.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time lost in your local discount super center seeking to buy either a how-to book on building remote controlled airplanes or an extra large beach blanket. Be on the lookout for broken fingernail clippers.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
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"The greatest use of life is to spend it for something that will outlast it." -- William James, psychologist
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PIH
Permanent Income Hypothesis
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