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Old 08-07-2011, 03:14 AM   #316
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factor tax (H2)<br />A tax levied on a particular income-earning FACTOR OF PRODUCTION. Taxes on capital, taxes on residential and commercial property and taxes on employment are important examples.

pension (H2, 13)<br />1 A replacement of employment earnings for retired persons. It can take the form of a flat rate benefit or be related to previous earnings and be arranged by a government or firm or financial institution. Pensions can be financed from an insurance fund or on a 'pay-as-you-go' principle with contributions and government grants financing the payout of benefits.<br /> 2 A regular payment by a government to a person for distinguished service or achievements, e.g. to a soldier or a writer.
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