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VAULT CASH: Paper currency and metal coins possessed by a commercial bank, either stored in the actual bank vault or temporarily resting teller drawers. Vault cash is primarily used to facilitate daily bank transactions (that is, cashing checks), and together with Federal Reserve deposits make up legal bank reserves.
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ABILITY-TO-PAY PRINCIPLE A taxation principle stating that taxes should be based on the ability to pay taxes. The ability-to-pay principle works from the proposition that those who have the greatest income should pay the most taxes. The ability-to-pay principle is the only reasonable way to finance the provision of public goods such as national defense, public health, and environmental quality. This is one of two taxation principles. The other is the benefit principle, which states taxes should be based on the benefits received.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius looking to buy either a package of 4 by 6 index cards, the ones with lines or a 50 foot extension cord. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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Three-forths of the gold mined each year is used to manufacture jewelry.
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"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
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GNP
Gross National Product
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