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BENEFIT PRINCIPLE: A principle of taxation in which taxes are based on the benefits received by people using the good financed with the tax. The benefit principle is often difficult to implement because by their very nature, many government produced goods (public goods) do not have easily measured benefits. But in those cases where benefits are identifiable, government is not shy about establishing taxes, fees, or charges in accordance with the benefit principle. Public college tuition, national park admission fees, and gasoline excise taxes are three common examples. The beneficiaries of education, a wilderness experience, and highway use are asked (required) to pay accordingly.
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BANK RESERVES Assets used by banks to back up deposits and to conduct daily transactions, including withdrawing funds, "cashing" checks, and transferring funds between banks to "clear" checks. Reserves, also termed bank reserves or legal reserves, includes two types of assets: vault cash and Federal Reserve deposits. These legal reserves are then divided between require reserves and excess reserves. Required reserves are used to back up deposits and excess reserves are used for loans.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a dollar discount store trying to buy either car battery jumper cables or a dozen high trajectory optic orange golf balls. Be on the lookout for letters from the Internal Revenue Service.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"The roots of education are bitter, but the fruit is sweet." -- Aristotle
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SOFFEX
Swiss Options and Financial Futures Exchange
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