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sales tax

(Encyclopedia)sales tax, 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...

poll tax

(Encyclopedia)poll tax, a capital tax levied equally on every adult in the community. Although no longer a significant source of revenue for any major country, the poll tax did provide large sums for many governmen...

Individual Retirement Account

(Encyclopedia)Individual Retirement Account (IRA), tax-sheltered retirement plan, originally created (1974) to assist individuals not covered by company pensions. Under the U.S. tax law of 1981, IRA provisions were...

excess profits tax

(Encyclopedia)excess profits tax, levy on any profit above a standard level. Chiefly a wartime phenomenon, it is intended to increase revenue during periods of distress and to prevent businessmen from taking unfair...

value-added tax

(Encyclopedia)value-added tax (VAT), levy imposed on business at all levels of the manufacture and production of a good or service and based on the increase in price, or value, provided by each level. Because the c...

Internal Revenue Service

(Encyclopedia)Internal Revenue Service (IRS), division of the U.S. Treasury Dept. that is responsible for the assessment and collection of most federal taxes, except those relating to alcohol, tobacco, firearms, an...

Pigou, Arthur Cecil

(Encyclopedia)Pigou, Arthur Cecil pĭˈgo͞o [key], 1877–1959, British economist, grad. King's College, Cambridge. He was a lecturer at University College, London, and at Cambridge. He was professor of political ...

Wilson, William Lyne

(Encyclopedia)Wilson, William Lyne, 1843–1900, American legislator, cabinet member, and university president, b. Jefferson co., Va. (now in W.Va.). He was a private in the Confederate army in the Civil War, and a...

Pendergast, Thomas Joseph

(Encyclopedia)Pendergast, Thomas Joseph, 1872–1945, American political boss, b. St. Joseph, Mo. After holding minor political offices (1899–1910) in Kansas City, Mo., he became the acknowledged Democratic leade...

Wells, David Ames

(Encyclopedia)Wells, David Ames, 1828–98, American economist, b. Springfield, Mass., grad. Williams, 1847, and Lawrence Scientific School, Cambridge, Mass., 1851. Early in life he wrote several popular books on s...