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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal 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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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time wandering around the downtown area hoping to buy either a pair of designer sunglasses or looseleaf notebook paper. Be on the lookout for vindictive digital clocks with revenge on their minds.
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This isn't me! What am I?
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Lewis Carroll, the author of Alice in Wonderland, was the pseudonym of Charles Dodgson, an accomplished mathematician and economist.
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"Leadership is the art of getting someone else to do something you want done because he wants to do it." -- Dwight Eisenhower, 34th US president
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ERISA
Employee Retirement Income Security Act of 1974
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