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TAX AVOIDANCE: A legal reduction in taxes. The complexity of our system of taxes, especially income taxes, makes it extremely worthwhile to identify the mix of spending, working, and assorted activities that reduce taxes. This has also created a major industry of accountants, lawyers, educators, public speakers, and others who spend their efforts uncovering legal tax loopholes. In terms of the big efficiency picture, this is a waste of resources. Our lives would, in general, be better off if this tax avoidance industry devoted it's efforts to increasing gross domestic product rather than diverting it from one pocket to another. This, though, is not a fault of theirs, but of the tax system itself.
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AUCTION A formal market exchange in which prospective buyers make bids to purchase a commodity. An auction is an effective way of exchanging commodities by bringing together buyers and sellers. Auctions are commonly used to exchange financial instruments, agricultural commodities, personal assets, and works of art. Three notable types of auctions are English, Dutch, and sealed-bid.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time searching for a specialty store hoping to buy either a video game player or an AC adapter that won't fry your computer. Be on the lookout for telephone calls from former employers.
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"It is not fair to ask of others what you are unwilling to do yourself. " -- Eleanor Roosevelt, diplomat, activist
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AOM
Australian Options Market
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