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TAX PROPORTIONALITY: The proportion of income paid in taxes at different levels of income. In some taxes the proportion of income paid in taxes increases with income in other cases it decreases. And in still other cases, it remains the same. The three basic types of taxes are proportional taxes, progressive taxes, and regressive taxes. Because almost everyone would like to pay fewer taxes (and presumably have others pay more), tax proportionality is a the center of political controversy. Higher incomes prefer regressive taxes and lower incomes prefer regressive taxes.
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CAPTURE THEORY OF REGULATION The notion that a government agency established to regulate an industry for the benefit of society acts instead for the benefit of the industry. In effect, the government agency is "captured" by the industry it is regulating. The capture theory of regulation indicates that government regulator acts as the decision-making "head" of a now monopolized industry. This is achieved by a "rotating door" between the government agency and the industry, with members of the regulating agency being former and future employees of the industry. Rather than promoting efficiency, the regulating agency creates an inefficient allocation of resources.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time at the confiscated property police auction trying to buy either a coffee cup commemorating next Thursday or a replacement remote control for your stereo system. Be on the lookout for high interest rates.
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Before 1933, the U.S. dime was legal as payment only in transactions of $10 or less.
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"People of mediocre ability sometimes achieve outstanding success because they don't know when to quit. " -- George Allen, U.S. senator
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SMA
Structural Moving Average
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