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BENEFIT PRINCIPLE: A principle of taxation in which taxes are based on the benefits received by people using the good financed with the tax. The benefit principle is often difficult to implement because by their very nature, many government produced goods (public goods) do not have easily measured benefits. But in those cases where benefits are identifiable, government is not shy about establishing taxes, fees, or charges in accordance with the benefit principle. Public college tuition, national park admission fees, and gasoline excise taxes are three common examples. The beneficiaries of education, a wilderness experience, and highway use are asked (required) to pay accordingly.
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FALLACY OF FALSE CAUSE The logical fallacy of arguing that two events have a causal connection because they are correlated (that is, happen at about the same time). In other words, one event is erroneously assumed to cause the other. This fallacy is the nemesis of the ongoing scientific pursuit to discover the laws of cause and effect.
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The first "Black Friday" on record, a friday marked by a major financial catastrophe, occurred on September 24, 1869 -- A FRIDAY -- when an attempted cornering of the gold market induced a financial crises and economy-wide depression.
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"We may affirm absolutely that nothing great in the world has been accomplished without passion." -- Hegel
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