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TRADE SURPLUS: Formally termed a balance of trade surplus, a condition in which a nation's exports are greater than imports. In other words, a country is buying less stuff from foreigners than foreigners are buying from domestic producers. A trade surplus is usually thought to be a good thing for a country. However, every country in the world cannot run a trade surplus at the same time. Excessive trade surpluses can also lead to invasion by sizable foreign armies.
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HORIZONTAL EQUITY A tax equity principle stating that people with the same ability to pay taxes should pay the same amount of taxes. This is one of two equity principles related to the ability-to-pay principle. The other is vertical equity, which states that people with a different ability to pay taxes should pay a different amount of taxes.
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BROWN PRAGMATOX
[What's This?]
Today, you are likely to spend a great deal of time watching infomercials trying to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for gnomes hiding in cypress trees.
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The average bank teller loses about $250 every year.
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"Difficulty is the excuse history never accepts. " -- Edward R. Murrow, News broadcaster
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BOP
Balance of Payments
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