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ESTATE TAX: A tax on the value of a deceased person's estate, or all of the property and assets owned. This should be compared to an inheritance tax, which is a tax on that portion of the estate that an heir actually receives.

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SERVICES, CONSUMPTION

Personal consumption expenditures on activities that provide direct satisfaction of wants and needs without the production of tangible goods. Common examples are information, entertainment, and education. This is one of three categories of personal consumption expenditures in the National Income and Product Accounts maintained by the Bureau of Economic Analysis. The other two are durable goods and nondurable goods. Services are about 60 percent of personal consumption expenditures and 40 percent of gross domestic product.

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Today, you are likely to spend a great deal of time searching for rummage sales looking to buy either clothing for your kitty cats or a set of luggage without wheels. Be on the lookout for cardboard boxes.
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Mark Twain said "I wonder how much it would take to buy soap buble if there was only one in the world."
"Long-range goals keep you from being frustrated by short-term failures "

-- J. C. Penney, Retailer

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