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PERSONAL TAXES: The common term for the portion of personal income used to pay personal tax and nontax payments. Personal tax and nontax payments is the official item in the National Income and Product Accounts maintained by the Bureau of Economics Analysis measuring the personal income taxes paid to the government sector on personal income received by the household sector. Personal tax and nontax payments are subtracted from personal income (PI) to calculate disposable income (DI). Personal tax and nontax payments are about 15 percent of personal income and about 13 percent of gross domestic product.

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M2: The medium-range monetary aggregate for the U.S. economy containing the combination of M1 (currency and checkable deposits) and short-term, small denomination near monies. M2 contains financial assets that either function directly as money for the U.S. economy or can be easily and quickly converted into money. The near monies added to M1 to derive M2 include savings deposits, certificates of deposit, money market deposits, and money market mutual funds. M2 is one of three monetary aggregates tracked and reported by the Federal Reserve System. The other two are designated M1 and M3.

     See also | money | near money | savings deposits | certificate of deposit | repurchase agreement | monetary aggregate | money supply | M1 | M3 |


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M2, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2021. [Accessed: April 11, 2021].


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FALLACY OF FALSE AUTHORITY

The logical fallacy of arguing that something is "correct" or "true" because an "expert" in an unrelated area says so. This is commonly used by both advertisers, politicians, and anyone who relies an "apparent expert" for the "correct" answers to controversial issues.

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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a cross-cut paper shredder or a birthday greeting card for your father. Be on the lookout for rusty deck screws.
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A scripophilist is one who collects rare stock and bond certificates, usually from extinct companies.
"He, who every morning plans the transactions of the day, and follows that plan, carries a thread that will guide him through a labyrinth of the most busy life."

-- Victor Hugo, Writer

M1
currency and coins held by the nonbank public plus checkable deposits issued by traditional banks, savings and loan associations, credit unions, and mutual savings banks
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