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GOALS: Five basic conditions of the economy that are generally desired by society. They are typically divided into macro goals (full employment, stability and growth) and micro goals (efficiency and equity).
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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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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Lead the life that will make you kindly and friendly to everyone about you, and you will be surprised what a happy life you will lead." -- Charles M. Schwab
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PRO RATA
According to the Rate (Latin)
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