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Progressive Tax
A progressive tax is a tax in which the tax rate increases as the taxable amount increases.Sommerfeld, Ray M., Silvia A. Madeo, Kenneth E. Anderson, Betty R. Jackson (1992), ''Concepts of Taxation'', Dryden Press: Fort Worth, TX The term ''progressive'' refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate.Hyman, David M. (1990) ''Public Finance: A Contemporary Application of Theory to Policy'', 3rd, Dryden Press: Chicago, ILJames, Simon (1998) ''A Dictionary of Taxation'', Edgar Elgar Publishing Limited: Northampton, MA The term can be applied to individual taxes or to a tax system as a whole. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, such as a sales tax, where the poor pay ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Happiness
Happiness, in the context of mental or emotional states, is positive or pleasant emotions ranging from contentment to intense joy. Other forms include life satisfaction, well-being, subjective well-being, flourishing and eudaimonia. Since the 1960s, happiness research has been conducted in a wide variety of scientific disciplines, including gerontology, social psychology and positive psychology, clinical and medical research and happiness economics. Definitions "Happiness" is subject to debate on usage and meaning, and on possible differences in understanding by culture. The word is mostly used in relation to two factors: * the current experience of the feeling of an emotion (affect) such as pleasure or joy, or of a more general sense of 'emotional condition as a whole'. For instance Daniel Kahneman has defined happiness as "''what I experience here and now''". This usage is prevalent in dictionary definitions of happiness. * appraisal of life satisfaction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry Addington
Henry Addington, 1st Viscount Sidmouth, (30 May 175715 February 1844) was an English Tory statesman who served as Prime Minister of the United Kingdom from 1801 to 1804. Addington is best known for obtaining the Treaty of Amiens in 1802, an unfavourable peace with Napoleonic France which marked the end of the Second Coalition during the French Revolutionary Wars. When that treaty broke down he resumed the war, but he was without allies and conducted relatively weak defensive hostilities, ahead of what would become the War of the Third Coalition. He was forced from office in favour of William Pitt the Younger, who had preceded Addington as Prime Minister. Addington is also known for his reactionary crackdown on advocates of democratic reforms during a ten-year spell as Home Secretary from 1812 to 1822. He is the longest continuously serving holder of that office since it was created in 1782. Family Henry Addington was the son of Anthony Addington, Pitt the Elder's physicia ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Shilling
The shilling is a historical coin, and the name of a unit of modern currencies formerly used in the United Kingdom, Australia, New Zealand, other British Commonwealth countries and Ireland, where they were generally equivalent to 12 pence or one-twentieth of a pound before being phased out during the 20th century. Currently the shilling is used as a currency in five east African countries: Kenya, Tanzania, Uganda, Somalia, as well as the ''de facto'' country of Somaliland. The East African Community additionally plans to introduce an East African shilling. History The word ''shilling'' comes from Old English "Scilling", a monetary term meaning twentieth of a pound, from the Proto-Germanic root skiljaną meaning 'to separate, split, divide', from (s)kelH- meaning 'to cut, split.' The word "Scilling" is mentioned in the earliest recorded Germanic law codes, those of Æthelberht of Kent. There is evidence that it may alternatively be an early borrowing of Phoenic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Pound Sterling
Sterling (abbreviation: stg; Other spelling styles, such as STG and Stg, are also seen. ISO code: GBP) is the currency of the United Kingdom and nine of its associated territories. The pound ( sign: £) is the main unit of sterling, and the word "pound" is also used to refer to the British currency generally, often qualified in international contexts as the British pound or the pound sterling. Sterling is the world's oldest currency that is still in use and that has been in continuous use since its inception. It is currently the fourth most-traded currency in the foreign exchange market, after the United States dollar, the euro, and the Japanese yen. Together with those three currencies and Renminbi, it forms the basket of currencies which calculate the value of IMF special drawing rights. As of mid-2021, sterling is also the fourth most-held reserve currency in global reserves. The Bank of England is the central bank for sterling, issuing its own banknotes, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Old Pence
The British pre-decimal penny was a denomination of sterling coinage worth of one pound or of one shilling. Its symbol was ''d'', from the Roman denarius. It was a continuation of the earlier English penny, and in Scotland it had the same monetary value as one pre-1707 Scottish shilling. The penny was originally minted in silver, but from the late 18th century it was minted in copper, and then after 1860 in bronze. The plural of "penny" is "pence" when referring to an amount of money, and "pennies" when referring to a number of coins. Thus 8''d'' is eight pence, but "eight pennies" means specifically eight individual penny coins. Before Decimal Day in 1971, sterling used the Carolingian monetary system (£sd), under which the largest unit was a pound (£) divisible into 20 shillings (s), each of 12 pence (d). The penny was withdrawn in 1971 due to decimalisation, and replaced (in effect) by the decimal half new penny, with p being worth 1.2''d''. History The kingdom ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
French Revolutionary War
The French Revolutionary Wars (french: Guerres de la Révolution française) were a series of sweeping military conflicts lasting from 1792 until 1802 and resulting from the French Revolution. They pitted France against Britain, Austria, Prussia, Russia, and several other monarchies. They are divided in two periods: the War of the First Coalition (1792–97) and the War of the Second Coalition (1798–1802). Initially confined to Europe, the fighting gradually assumed a global dimension. After a decade of constant warfare and aggressive diplomacy, France had conquered territories in the Italian Peninsula, the Low Countries and the Rhineland in Europe and abandoned Louisiana in North America. French success in these conflicts ensured the spread of revolutionary principles over much of Europe. As early as 1791, the other monarchies of Europe looked with outrage at the revolution and its upheavals; and they considered whether they should intervene, either in support of King Louis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Pitt The Younger
William Pitt the Younger (28 May 175923 January 1806) was a British statesman, the youngest and last prime minister of Great Britain (before the Acts of Union 1800) and then first prime minister of the United Kingdom (of Great Britain and Ireland) as of January 1801. He left office in March 1801, but served as prime minister again from 1804 until his death in 1806. He was also Chancellor of the Exchequer for all of his time as prime minister. He is known as "Pitt the Younger" to distinguish him from his father, William Pitt, 1st Earl of Chatham, who had previously served as prime minister and is referred to as "William Pitt the Elder" (or "Chatham" by historians). Pitt's prime ministerial tenure, which came during the reign of King George III, was dominated by major political events in Europe, including the French Revolution and the Napoleonic Wars. Pitt, although often referred to as a Tory, or "new Tory", called himself an "independent Whig" and was generally opposed to th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister
A prime minister, premier or chief of cabinet is the head of the cabinet and the leader of the ministers in the executive branch of government, often in a parliamentary or semi-presidential system. Under those systems, a prime minister is not the head of state, but rather the head of government, serving under either a monarch in a democratic constitutional monarchy or under a president in a republican form of government. In parliamentary systems fashioned after the Westminster system, the prime minister is the presiding and actual head of government and head/owner of the executive power. In such systems, the head of state or their official representative (e.g., monarch, president, governor-general) usually holds a largely ceremonial position, although often with reserve powers. Under some presidential systems, such as South Korea and Peru, the prime minister is the leader or most senior member of the cabinet, not the head of government. In many systems, the prim ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kingdom Of Great Britain
The Kingdom of Great Britain (officially Great Britain) was a Sovereign state, sovereign country in Western Europe from 1 May 1707 to the end of 31 December 1800. The state was created by the 1706 Treaty of Union and ratified by the Acts of Union 1707, which united the kingdoms of Kingdom of England, England (which included Wales) and Kingdom of Scotland, Scotland to form a single kingdom encompassing the whole island of Great Britain and its outlying islands, with the exception of the Isle of Man and the Channel Islands. The unitary state was governed by a single Parliament of Great Britain, parliament at the Palace of Westminster, but distinct legal systems – English law and Scots law – remained in use. The formerly separate kingdoms had been in personal union since the 1603 "Union of the Crowns" when James VI of Scotland became King of England and King of Ireland. Since James's reign, who had been the first to refer to himself as "king of Great Britain", a political un ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poll Tax
A poll tax, also known as head tax or capitation, is a tax levied as a fixed sum on every liable individual (typically every adult), without reference to income or resources. Head taxes were important sources of revenue for many governments from ancient times until the 19th century. In the United Kingdom, poll taxes were levied by the governments of John of Gaunt in the 14th century, Charles II in the 17th and Margaret Thatcher in the 20th century. In the United States, voting poll taxes (whose payment was a precondition to voting in an election) have been used to disenfranchise impoverished and minority voters (especially under Reconstruction). By their very nature, poll taxes are considered regressive. Many other economists brand them as highly harmful taxes for low incomes (100 monetary units of a fortune of 10,000 represent 1% of said wealth, while 100 monetary units of a fortune of 500 represents 20%). Its acceptance or "neutrality" (there is no truly neutral tax on t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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