PROGRESSIVE TAX
A tax that takes a larger percentage from the income of high-income earners than it does from low-income individuals. The United States income tax is considered progressive: in 2010, individuals who earned up to $8,375 fell into the 10% tax bracket, while individuals earning $373,650 or more fell into the 35% tax bracket. Basically, taxpayers are broken down into categories based on taxable income; the more one earns, the more taxes they will have to pay once they cross the benchmark cut-off points between the different tax bracket levels.
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Tit for Tat
Game theory mechanism subject to a payoff matrix similar to a prisoner’s dilemma. Anchored on the concepts of retaliation and altruism, this ...
Nonsegregated Disclosures
Information that must be presented legally anywhere in a lease agreement. These are required by the Federal Reserve Board Regulation M. The lease a ...
Product Line
A series of related products which are all made or manufactured by the same company.
Behavioral Economics
The scientific study on how the mind thinks and how each person reacts as it relates to the process of decision making in economics of individuals ...
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A theory stating the emerging domestic industries must be protected against foreign competition until they become established and mature. In econom ...
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Before anything else, one h ...
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Digesting Financial Statements: Pension Plans
Deducing on the topic we previously discussed, this tutorial now puts the spotlight on the pension fund. It is a distinct long-term obligation for ...
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