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July 11, 2020 

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REGRESSIVE TAX: A tax in which people with more income pay a smaller percentage in taxes. A regressive tax is given by this example--You earn $10,000 a year and your boss gets $20,000. You pay $2,000 in taxes (20 percent) while your boss also pays $2,000 in taxes (10 percent). Examples of regressive taxes abound (is this surprising given the political clout of the wealthy?), including sales tax, excise tax, and Social Security tax.

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LONG-RUN AVERAGE COST

The per unit cost of producing a good or service in the long run when all inputs under the control of the firm are variable. In other words, long-run total cost divided by the quantity of output produced. Long-run average cost is guided by returns to scale.

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Playing The STOCK MARKET

The hazards of being a pedestrian are many. Of course we have a good chance of crossing paths with a rabid bengal tiger that has highjacked a street cleaner and intends to whitewash every pair of jogging shoes encountered. Or a throng of overzealous religious fanatics might try to slip fresh flowers into our hands and literature into our pockets. And especially when we amble through the financial district, we might be crushed by falling stock market investors who have mistakenly BOUGHT HIGH and SOLD LOW. While the actions of the bengal tiger and overzealous religious fanatics might be understandable, what's so almighty important about the stock market that would make investors place the well-being of innocent pedestrians in jeopardy?
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RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time touring the new suburban shopping complex seeking to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for cardboard boxes.
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This isn't me! What am I?

The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
"What gets measured gets done."

-- Peter Drucker, educator

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