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GRADUATED TAX: A type of progressive tax in which the tax rate is higher as the value of the taxed item increases. For example a graduated sales tax would be one with a 5 percent tax rate on the first $10 of sales, 10 percent tax rate on the any sales between $10 and $50, then a 15 percent rate for anything above $50. Our personal income tax system uses graduated taxes.
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COMMUNISM: In theory, an economy based on -- (1) a classless society, where everyone does their best to contribute to the common good, (2) a common, rather than individual, ownership of all resources, (3) the complete disappearance of government, and (4) income allocated based entirely on need rather than on resource ownership or contribution to production (that is, a needs standard, compare contributive standard). See also | economy | economic system | socialism | government | command economy | resources | private property | needs standard | contributive standard | capitalism | central planning | efficiency |
Recommended Citation:COMMUNISM, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2026. [Accessed: September 8, 2026].
AmosWEB Encyclonomic WEB*pedia:Additional information on this term can be found at: WEB*pedia: communism
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NO-RESERVE BANKING A (hypothetical) method of banking in which banks keep 0 percent of their deposits in the form of bank reserves, meaning that ALL deposits are used for interest-paying loans. No-reserve banking is one of two theoretical alternatives designed to help illustrate a contrast to the fractional-reserve banking actually practiced by modern banks. The other alternative is full-reserve banking. With the no-reserve approach a bank operates as financial intermediary or broker, matching up borrowers and lenders.
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PURPLE SMARPHIN
[What's This?]
Today, you are likely to spend a great deal of time touring the new suburban shopping complex trying to buy either a small palm tree that will fit on your coffee table or several magazines on fashion design. Be on the lookout for attractive cable television service repair people.
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On a typical day, the United States Mint produces over $1 million worth of dimes.
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"In a time of drastic change, it is the learners who inherit the future. " -- Eric Hoffer, philosopher
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SAFEX
South African Futures Exchange
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