|
|
LUXURY TAX: A tax on relatively expensive goods that are typically purchased primarily by the wealthy or affluent. A luxury tax is generally set up as an excise tax on the purchase price of a good over an specific amount. For example, a 10% tax on the purchase price of an automobile over $30,000 would be considered a luxury tax. Goods most likely subject to luxury taxies are (expensive) cars, jewelry, boats, planes, and furs. A luxury tax is, by design, a progressive tax that falls more heavily on those with more income. Like almost every tax, a luxury tax is controversial and debated, favored by those not paying and opposed by those paying.
Visit the GLOSS*arama
|
|
|
|
|
PHYSICAL FLOW In the circular flow model, the transfer of goods and services from the business sector to the household sector and the transfer of resource services from the household sector to the business sector. The physical flow is usually illustrated as a counter-clockwise flow for a model with the product markets at the top, resource markets at the bottom, household sector at the left, and business sector at the left. The payment flow moves in the opposite direction.
Complete Entry | Visit the WEB*pedia |
|
|
PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club seeking to buy either a case of blank recordable DVDs or a pair of red goulashes with shiny buckles. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
Your Complete Scope
This isn't me! What am I?
|
|
|
Two and a half gallons of oil are needed to produce one automobile tire.
|
|
|
"If I have ever made any valuable discoveries, it has been owing more to patient attention than to any other talent. " -- Isaac Newton, mathematician, physicist
|
|
CD
Certificate of Deposit
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
