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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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VERTICAL MERGER The consolidation of two or more separately-owned businesses, that have an input-output relation, into a single firm. This is one of three types of mergers. The other two are horizontal merger--two competing firms in the same industry that sell the same products--and conglomerate merger--two firms in separate, unrelated industries.
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A lump of pure gold the size of a matchbox can be flattened into a sheet the size of a tennis court!
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"Even a mistake may turn out to be the one thing necessary to a worthwhile achievement." -- Henry Ford
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SWIFT
Society for Worldwide Interbank Financial Telecommunications
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