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SALES TAX: A tax on retail sales. This is major source of revenue for many state and local governments. Because poorer people tend to spend a larger share of their income on stuff covered by sales taxes, it tends to be a regressive tax. To reduce this regressiveness, some state and local governments excluded items like food and medicine.
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SURPLUS A condition in the market in which the quantity demanded is less than the quantity supplied at the existing price. Because sellers are unable to sell as much of the good as they want, a surplus generally causes a decrease in the market price, which then acts to restore equilibrium. A surplus, which also goes by the terms excess supply and buyers' market, is one of two basic states of disequilibrium for the market. The other is shortage.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time at a garage sale trying to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for slow moving vehicles with darkened windows.
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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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"God grants victory to perseverance. " -- Simon Bolivar, South American liberator
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SPO
Strongly Pareto Optimal
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