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April 26, 2017 

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Skipped lunch altogether.
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Fast food drive through.
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Greatest Ben actor?

Kingsley.
Affleck.
Stiller.
Johnson.
Vereen.
Murphy.

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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A Perfect Picture Of PROFIT

Good news! Manny Mustard, my long-time friend and proprietor of Manny Mustard's House of Sandwiches is having a special on his Deluxe Club Sandwich. Let's drop in for a brief respite -- and lunch. More good news! Manny is bubbling profusely about the vitality of his business. Last month he turned a profit. Yes, that much cherished profit, the goal of business firms, be they large or small. Upon closer inspection Manny's profit calculation might be suffering from an oversight or two. It seems as though Manny neglected to pay himself a wage. Nor did he bother to include any interest expense on the savings he invested in his House of Sandwiches venture. But what the heck, he earned a profit -- didn't he?
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APLS

State of the ECONOMY

Median weekly earnings
Third Quarter 2016
$827 / week
Up $24 from 3rd Qtr. 2015

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PURPLE SMARPHIN
[What's This?]

Today, you are likely to spend a great deal of time looking for a downtown retail store trying to buy either a rim for your spare tire or decorative celebrity figurines. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?

The 1909 Lincoln penny was the first U.S. coin with the likeness of a U.S. President.
"Sometimes when you innovate, you make mistakes. It is best to admit them quickly and get on with improving your other innovations. "

-- Steve Jobs, Apple Computer founder

AER
American Economic Review
A PEDestrian's Guide
Xtra Credit
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