http://www.merriam-webster.com/top-ten-lists/top-10-user-submitted-words-vol-7/viewbicle.html
I need to work on publicizing my next word:
Just some random thoughts from the mind of Steve
I don't think I did a good enough job covering the difference between inclusive and exclusive tax rates.
Exclusive:
"I am buying a twinkie for $1.00 and I pay 30% tax, so $1.00 + ($1.00 * 0.30) = $1.00 + $0.30 = $1.30"
Inclusive:
"I am paying $1.30 for this twinkie (total amount), and 23% of that is tax, so $1.30 * 0.23 = $0.299 = $0.30 (tax). The twinkie must be worth $1.30 - $0.30 = $1.00."
All the same numbers, just spoken differently.
When talking about sales taxes, it seems foreign (and misleading) to discuss it in terms of inclusive rates. But when talking about income taxes, it's natural.
Inclusive:
"I make $100,000 (total amount), and I pay a marginal tax rate of 28%, so $100K * 0.28 = $28,000 (tax). My take home pay is $100,000 - $28,000 = $72,000."
Exclusive:
"I take home $72,000, and I pay $28,000 in tax, so $28,000/$72,000 = 39%. Or, $72K+ ($72K * 0.39) = $72K + $28K = $100K."
Just to loop back: if the twinkie cost $72K, and tax was 39%, you'd pay $100,000. ("That's one big twinkie.") Yes, an inclusive income tax rate of 28% is an exclusive income tax rate of 39%. That's why a 23% FairTax rate can be demonstrated to be 30% sales tax.
Once again, the FairTax uses inclusive in order to more easily compare to the IRS. They are not trying to hide anything (necessarily); it is simpler and "fairer" to compare the two taxation systems on the same basis, so FairTax converts to inclusive rates rather than quoting Income Tax as exclusive rates. After all, if all you heard was "you're paying 39% to the IRS", your first thought would be, "no I'm not..."
Ever been to Henry's in Acworth? Incredibly good food. Amanda and I enjoyed dinner there tonight - not quite a spur of the moment thing, but almost. I've been thinking of them ever since I missed Taste of Marietta back in April? May? Henry's Chicken Ooh Lah Lah is incredible. The sauce for it is something you have to taste to believe - it makes me drool just typing about it. A new surprise we had there tonight was the Ginger Citrus salad dressing. Very tangy, kind of a spin on their Caesar dressing, but much better. Try it the next time you are there!
I've been using KeePass for years now to manage my passwords. It makes it very easy to generate random passwords for use on any website, has a keyboard shortcut (default: Ctrl-Alt-A) to automatically fill in userid/password fields (and its default method works great for 95% of websites), and is very configurable. Because I use multiple machines (work, home desktop, home laptop) I have trouble keeping them in sync, but I typically decide which machine is primary and always keep it completely up-to-date. When you create a password database, you choose a password for the file, then use KeePass to generate all the passwords from then on. You only have to remember one password, so be smart - make it both easy to remember and complex at the same time! For instance, mine is... well, that would be telling. :)
They recently released the 2.0 version (finally); I'll probably post again once I've spent some time with it. I'm still using the 1.0 version - gasp!