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ZERO-BASE BUDGET: A method of budgeting expenditures in which each expenditure is justified on its overall merits rather than being based on the budget for the previous year. A zero-base budget is most often proposed (but seldom implemented) for governments. Governments generally establish budget expenditures based on expenditures for the previous year. If, for example, budget expenditures last year were $100 billion, the requested budget for this year might be set at $110 billion. The existing $100 billion is a "given" and only the extra $10 billion is justified. With a zero-base budget, the entire $110 billion is justified.
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PATERNALISM A fundamental philosophical viewpoint that the private sector (households and businesses) needs to be closely supervised by the public sector (government). In other words, members of society need to be watched over, cared for, and kept out of trouble, like parents watch over, care for, and keep their children out of trouble.
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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex looking to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for attractive cable television service repair people.
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This isn't me! What am I?
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"I don't know the key to success, but the key to failure is trying to please everybody. " -- Bill Cosby
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UNCTAD
United Nations Conference on Trade and Development
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