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MARGINAL TAX RATE: A tax rate that is the percentage of an incremental change in the tax base paid in taxes. Comparable to any marginal, this is the change in total taxes collected or paid divided by the change in the total value of the tax base. For example, if a person has a $10,000 increase in earnings from $40,000 to $50,000 and income taxes increase by $2,000 from $3,000 to $5,000 in taxes, then the marginal income tax rate is 20 percent. The contrasting term is average tax rate.
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MONEY CREATION, THE PROCESS The process in which the banking system creates checkable deposits by lending excess reserves. The total amount of checkable deposits (and money) created by the banking system depends on the amount of excess reserves available and the reserve requirement ratio specifying the reserves needed to back up deposits. The money creation process is the movement of reserves from bank to bank, with each bank using excess reserves to make loans (and checkable deposits), then keeping a fraction of the reserves to back up newly created deposits. The deposit expansion multiplier captures the money creation process, indicating the amount of checkable deposits created if the banking reserve acquires a given amount of excess reserves.
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RED AGGRESSERINE
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Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"Enthusiasm is the greatest asset in the world. It beats money and power and influence. It is no more or less than faith in action. " -- Henry Chester, Writer
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