In a message dated 3/30/01 1:36:16 PM Eastern Standard Time, email@example.com
<< It's not analyzed in terms of income flow; rather, the definition of
EQUITABLE-3 considers the relative accumulation of (the basis for,
independent of performance) wealth between two parties making the same
proportional allocation decisions across the buckets: >>
if that's possible.
The Columbia Encyclopedia, Sixth Edition. 2001.
levy on the sale of goods or services, generally calculated as a percentage
of the selling price, and sometimes called a purchase tax. It is usually
collected in the form of an extra charge by the retailer, who remits the tax
to the government. It may be levied each time a commodity changes hands—as
from manufacturer to wholesaler, from wholesaler to retailer—and is then
called a transactions, or turnover, tax. Many oppose the tax as being
regressive, i.e., as placing a disproportionately heavy burden on the poor;
but it yields a large revenue, and governments find it easy to collect. As of
1999, 45 states, the District of Columbia, a number of cities and counties,
and many foreign countries levied sales taxes. A modern variant of the sales
tax is the value-added tax.
The Columbia Encyclopedia, Sixth Edition. Copyright © 2001 Columbia
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