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TAX PROPORTIONALITY: The proportion of income paid in taxes at different levels of income. In some taxes the proportion of income paid in taxes increases with income in other cases it decreases. And in still other cases, it remains the same. The three basic types of taxes are proportional taxes, progressive taxes, and regressive taxes. Because almost everyone would like to pay fewer taxes (and presumably have others pay more), tax proportionality is a the center of political controversy. Higher incomes prefer regressive taxes and lower incomes prefer regressive taxes.
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SLOPE, AGGREGATE DEMAND CURVE The negative slope of aggregate demand curve, reflecting the inverse relation between the price level and aggregate expenditures on real production, is attributable to three primary effects--real-balance effect, interest-rate effect, and net-export effect.
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BROWN PRAGMATOX
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Today, you are likely to spend a great deal of time at a going out of business sale looking to buy either a printer that works with your stockpile of ink cartridges or income tax software. Be on the lookout for telephone calls from former employers.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Nothing great has ever been achieved except by those who dared believe that something inside them was superior to circumstances. " -- Bruce Barton, Advertising executive
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