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INCOME TAX: A tax on income, including wages, rent, interest, profit, and (usually) transfer payments. The income tax system in the United States includes both a personal income tax and corporate income tax. In general, the U. S. income tax is progressive, but through a number of deductions and other loopholes, it's less so in practice that on paper.
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ECONOMIC COST An alternative term for opportunity cost, which is the highest valued alternative foregone in the pursuit of an activity. Opportunity cost, or economic cost, is one of the most fundamental concepts used in the study of economics, hence the reason it is also termed economic cost. Economic, or opportunity cost is also commonly termed just cost.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club wanting to buy either any book written by Isaac Asimov or a how-to book on building remote controlled airplanes. Be on the lookout for defective microphones.
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During the American Revolution, the price of corn rose 10,000 percent, the price of wheat 14,000 percent, the price of flour 15,000 percent, and the price of beef 33,000 percent.
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"There's only one corner of the universe you can be certain of improving and that's your own self. " -- Aldous Huxley, writer
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SIPP
Survey of Income and Program Participation
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