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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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by Orley M. Amos, Jr.
Professor of Economics
Oklahoma State University
Go to: Chapter 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Table of Contents
Chapter One: The Professor
Chapter Two: A Kind, Loving Instructor
Chapter Three: Some Yummy Purple Fruit
Chapter Four: Tyler's Second Test
Chapter Five: Cali O'Toole
Chapter Six: The Hideous Monster
Chapter Seven: Crunch Water
Chapter Eight: The Quest
Chapter Nine: The Valley Of Red
Chapter Ten: The Purple Village
Chapter Eleven: Leonardo Da Vinci
Chapter Twelve: The Estoffe Flow
Chapter Thirteen: The Evil Professor
Chapter Fourteen: Adam
Chapter Fifteen: The Caves
Chapter Sixteen: Mark Twain
Chapter Seventeen: Leonardo's Place
Chapter Eighteen: Return From Leornia
Chapter Nineteen: The Source Of Water
Chapter Twenty: The Real World

Go to: Chapter 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20
Copyright © 1997, 2002 by Orley M. Amos, Jr. All rights reserved. Not to be quoted without permission of the author.
Borrowing Through The FINANCIAL MARKETS

We never know whom we might encounter on our leisurely stroll through the economy. Passing by the marble columns of Interstate OmniBank -- the beacon of safety and security -- we have the good fortune of crossing paths with our Ivy-League-educated pillar of the financial community -- Winston Smythe Kennsington III. Although he seems to be a touch condescending, he's kind enough to show us a freshly signed check for $37 gadzillion, which is but a small part of a multi-gadzillion dollar loan from the Interstate OmniBank. To what constructive purpose Winnie will put these funds remains unclear; how this loan will be repaid, he never says; but Winnie proudly reminds us several times that this loan once again proves his unchallenged standing as the majordomo of the financial markets.
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Today, you are likely to spend a great deal of time at a garage sale hoping to buy either a coffee cup commemorating the 1960 Presidential election or a how-to book on fixing your computer, with illustrations. Be on the lookout for small children selling products door-to-door.
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The Dow Jones family of stock market price indexes began with a simple average of 11 stock prices in 1884.
"The more you praise and celebrate your life, the more there is in life to celebrate."

-- Oprah Winfrey

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