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VERTICAL EQUITY: A system of taxes that treats unequal people unequally. In other words, if you make the less income than someone else and pay fewer personal income taxes, then we have vertical equity.

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The AmosWEB GLOSS*arama is a searchable database of 2000 economic terms and concepts. GLOSS*arama entries range from A ("a" -- the vertical intercept of a straight line) to Z ("zoning" -- legal restrictions on the location of an activity).

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NEEDS

The physiological or biological requirements for maintaining life, such as air, water, food, shelter, and sleep. Physiological needs are often contrasted with psychological wants that make life more enjoyable, but are not essential for existence.

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Fact 3: Our Unfair Lives

Across the interstate from the Mega-Mart Discount Warehouse Super Center resides the Shady Valley Central Town Sprawling Hills Shopping Mall -- a prime example of our economy's climate-controlled, suburban shopping phenomenon. Our pedestrian's ramble through the economy would be totally inadequate if we did not spend at least one day strolling past the endless rows of stores with their displays of clothes, shoes, electronics, clothes, luggage, clothes, cheese pretzels, and of course clothes. Our pedestrian trip, however, is not concerned with the products exhibited beyond the stylish glass windows. No, our jumping off point is the gadzillions of people who pass us by, bump into us, get in our way, and generally make our shopping experience comparable to a commuter train during the rush hour.

Those who comprise the shopping crowd are short, tall, young, old, fat, thin, black, white, happy, and sad. More importantly for our present discussion, however, is that some are rich and some are not-so-rich. A few of the wealthier shoppers actually buy the products framed by the picturesque windows that line the air-conditioned quaint mid-way of Shady Valley Central Town Sprawling Hills Shopping Mall. Others must be content to ogle the prominently displayed products or perhaps buy an occasional cheese pretzel.
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Today, you are likely to spend a great deal of time at an auction seeking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for deranged pelicans.
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A thousand years before metal coins were developed, clay tablet "checks" were used as money by the Babylonians.
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