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PERSONAL INCOME TAX: A tax on individual income. This is the primary source of revenue for the federal government, a big source for many state and local governments, and the reason most people dread April 15th. In principle, personal income taxes are progressive, based on a graduated tax scale. However, it's much more proportional today than it was several decades ago.
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LIQUIDITY The ease with which an asset can be converted to money with little or no loss of value. Money, currency and checkable deposits, is the benchmark for liquidity. Money is what other assets are converted to. Different assets have differing degrees of liquidity. Financial assets have differing degrees of liquidity but tend to be more liquid that physical assets. Liquidity is important to components of the three monetary aggregates tracked and reported by the Federal Reserve System--M1, M2, and M3.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time driving to a factory outlet hoping to buy either a graduation present for your niece or nephew or a toaster oven that has convection cooking. Be on the lookout for cardboard boxes.
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Two and a half gallons of oil are needed to produce one automobile tire.
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"If you worried about falling off the bike, you'd never get on. " -- Lance Armstrong, bicycle racer
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NSF
National Science Foundation
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