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GOVERNMENT DEBT: The total amount of all government securities outstanding. This is also frequently termed the public debt.
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REGRESSIVE TAX A tax in which the proportion of income paid in taxes is smaller for higher income levels. A regressive income tax exists if taxpayers with more income pay a lower tax rate relative to income as income increases. A regressive tax is one of three alternations. The other two are progressive tax, in which the proportion of income paid in taxes is greater for higher income levels, and proportional tax, in which the proportion of income paid in taxes is the same for all income levels.
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In his older years, Andrew Carnegie seldom carried money because he was offended by its sight and touch.
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"Whenever you fall, pick up something. " -- Oswald Avery, scientist
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QML
Quasi-Maximum Likelihood
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