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M2: The medium-range monetary aggregate for the U.S. economy containing the combination of M1 (currency and checkable deposits) and short-term, small denomination near monies. M2 contains financial assets that either function directly as money for the U.S. economy or can be easily and quickly converted into money. The near monies added to M1 to derive M2 include savings deposits, certificates of deposit, money market deposits, and money market mutual funds. M2 is one of three monetary aggregates tracked and reported by the Federal Reserve System. The other two are designated M1 and M3.
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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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PINK FADFLY
[What's This?]
Today, you are likely to spend a great deal of time strolling around a discount warehouse buying club trying to buy either a how-to book on home decorating or a set of luggage with wheels. Be on the lookout for deranged pelicans.
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This isn't me! What am I?
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Al Capone's business card said he was a used furniture dealer.
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"Every time you win, it diminishes the fear a little bit. You never really cancel the fear of losing; you keep challenging it. " -- Arthur Ashe, tennis player
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DOJ
Department of Justice (US)
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