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INCOME TAX: A tax on income, including wages, rent, interest, profit, and (usually) transfer payments. The income tax system in the United States includes both a personal income tax and corporate income tax. In general, the U. S. income tax is progressive, but through a number of deductions and other loopholes, it's less so in practice that on paper.
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ECONOMY The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity.
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BLUE PLACIDOLA
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store hoping to buy either a three-hole paper punch or decorative picture frames. Be on the lookout for infected paper cuts.
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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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"Our goals can only be reached through a vehicle of a plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success. " -- Pablo Picasso, artist
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QJE
Quarterly Journal of Economics
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