Aug 232011
 

Revenue

The Free Dictionary: n. The money invoiced by a business enterprise in exchange for providing goods or services, for any service the use of  free invoice tools is essential for a positive financial management; the money paid to an investor from the profits of a business enterprise.

Revenue is the income generated from normal business operations and includes discounts and deductions for returned merchandise. It is the top line or gross income figure from which costs are subtracted to determine net income.

The Progressive Dictionary: n. Tax.

Tax

The Free Dictionary: n. A compulsory fee levied by a government.

The Progressive Dictionary: n. Revenue; the money paid to the government by its residents in exchange for the promise of a civilised society.

To help fund public works and services—and to build and maintain the infrastructures used in a country—the government usually taxes its individual and corporate residents. The tax collected is used for the betterment of the economy and all living in it. In the U.S. and many other countries in the world, taxes are applied to some form of money received by a taxpayer. The money could be income earned from salary, capital gains from investment appreciation, dividends received as additional income, payment made for goods and services, etc.

A percentage of the taxpayer’s earnings or money is taken and remitted to the government. Payment of taxes at rates levied by the state is compulsory, and tax evasion—the deliberate failure to pay one’s full tax liabilities—is punishable by law. Most governments use an agency or department to collect taxes; in the United States, this function is performed by the Internal Revenue Service (IRS).

  2 Responses to “The Progressive Dictionary: 4”

  1. A compulsory fee levied by a government.

    surely ‘A compulsory fee extorted by a government.

    • Well, not really. In the free society the government listens to the voters, and the voters agree that everyone who wants to live in the territory under the control of their government pays the compulsory fee. If the voters are all anarchists then there is no fee. If the voters are socialists then the fee may be higher. Of course, in an ideal free society anyone can choose to leave and actually have somewhere to go or even remove their land from the control of that government.

      That said, the progressive definition should definitely be “the money extorted by the government from its residents…”

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