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VERTICAL EQUITY: A system of taxes that treats unequal people unequally. In other words, if you make the less income than someone else and pay fewer personal income taxes, then we have vertical equity.
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PLASTIC MONEY A slang phrase for credit cards, especially when such cards used to make purchases. The "plastic" portion of this term refers to the plastic construction of credit cards, as opposed to paper and metal of currency. The "money" portion is an erroneous reference to credit cards as a form of money, which they are not. Although credit cards do facilitate transactions, because they are a liability rather than an asset, they are not money and not part of the economy's money supply.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time at a flea market wanting to buy either a half-dozen helium filled balloons or a packet of address labels large enough for addresses of both the sender and the recipient. Be on the lookout for celebrities who speak directly to you through your television.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Chance favors only the prepared mind." -- Louis Pasteur, biologist
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AAT
Association of Accounting Technicians
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