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Bequest
Bequests EXPLAINING BEQUESTS BEQUESTS AND PUBLIC POLICY BIBLIOGRAPHY A bequest is the act of leaving personal wealth to a person or heir by a will. The distribution of bequests not only has potentially important consequences for the distribution of wealth but also the distribution of income.... Read more |
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Income distribution
Income DistributionI. FUNCTIONAL SHAREIrving B. KravisBIBLIOGRAPHYII. SIZEStanley LebergottBIBLIOGRAPHYI. FUNCTIONAL SHAREThe distribution of income has been a focal point in the study of economics since the time of Adam Smith. At first, the emphasis was almost exclusively on the functional... Read more |
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Consumption (Economics)
Consumption FunctionKeynes’s “propensity to consume”The postwar reappraisalBIBLIOGRAPHYEconomists have long been interested in the factors determining how a society divides its income proportionally between consumption and saving. In the past thirty years theoretical and empirical investigation of... Read more |
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gross national product
gross national product (GNP), in economics, a quantitative measure of a nation's total economic activity, generally assessed yearly or quarterly. The GNP equals the gross domestic product plus income earned by domestic residents through foreign investments minus the income earned by foreign... Read more |
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Underclass
Underclass CAUSES SIZE OF THE UNDERCLASS RACE AND THE UNDERCLASS HOW THE UNDERCLASS HAS SHAPED PUBLIC POLICY BIBLIOGRAPHY The term underclass was used by Charles Murray in 1984 to describe a permanent or persistent poverty population whose lower-income status passes from one generation to... Read more |
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Springer v. United States
Springer v. United States, 102 U.S. 586 (1881), argued 8–9 Apr. 1880, decided 24 Jan. 1881 by vote of 7 to 0; Swayne for the Court, Hunt and Clifford not participating. At issue in Springer was the constitutionality of the 1862 income tax, enacted to help finance the Civil War. William M.... Read more |
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Employee Retirement Income Security Act
EMPLOYEE RETIREMENT INCOME SECURITY ACT The Employee Retirement Income Security Act (ERISA) was signed into law by President Gerald Ford on Labor Day, 2 September 1974. This landmark law provides extensive rules governing private pension plans and other employee benefit plans. The primary function... Read more |
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Capital Gain
CAPITAL GAIN If you buy a piece of land or a company's stock in January and then sell it the next January for a higher amount, you have realized a capital gain on that asset. (If the value of that land or stock has gone down between the time you bought and sold it you have experienced a capital... Read more |
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Commodity
Commodity Foods The United States Department of Agriculture (USDA) administers several programs that distribute commodity foods, which are foods that the federal government has the legal authority to purchase and distribute in order to support farm prices. The first... Read more |
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Negative income tax
Negative Income Tax BIBLIOGRAPHY A negative income tax (NIT) provides an income guarantee to families without other sources of income, but taxes away that guarantee as the family’s earnings increase. An NIT is thus usually specified in two parts: (1) the guaranteed income for families... Read more |
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