Easy!

So liabilities. Liabilities.

Let's say assets and I'll talk about margin requirements

The opposition party put forward a bill to reduce income tax.

Tax officials are zeroing in on income tax evasion.

More unemployment results in less tax revenue through income tax.

And then we have the debt, the debt of the company, or the

Let's think about its liabilities.

I owe the bank 750,000.

Over the last few years, both parties have worked together to reduce the deficit by more than 2.5 trillion mostly through spending cuts, but also by raising tax rates on the wealthiest 1 percent of Americans.

This is 120,000 in equity, market value of equity, he has another 105,000 in liabilites.

This was equity.

It's a vicious circle.

This income tax saving from interest deduction, this is assuming that at that marginal tax rate, you can deduct the property tax and the interest on the debt.

An income tax is levied on any income that exceeds deductions.

At the till, we are all equals.

liabilities as well.

It had 5 million of debt.

What are my liabilities?

That assets, A for assets, is equal to

Over the next few years big decisions will be made in Washington on jobs, the economy, taxes and deficits, energy, education, war and peace.

Or the other way to view it is, assets minus liabilities is equal to equity, right?

The income from this source is tax free.

We pay an income tax at varying rates according to the size of income.

Minus 1.075 that was the max that I could borrow

Everything on the right hand side is equity, so this is all equity.

I still owe 750,000 to bank.

So my liabilities I owe the bank 750,000.

Most times the liabilities are pretty easy to get a handle on.

I think I had called it Loan C.

I had 100 of cash, no accounts receiveables,

So the only liability is this 5,000.

Let me just make everything clear.

These are the assets that our five buddies have together.

So over here you had another liability.

So in this case, our assets are 250,000.

My assets are 250,000.

The IRS might consider that to be income

Poorer households were to be paid a net payment by the state.

This tax is not paid by whoever brings the Latte Macchiato, but by whoever drinks it.

So going back to our balance sheet, we had a 10 million asset, we had 5 million of debt.

These are my assets.

It should start to make a little bit of intuitive sense

So right now, the short seller, he has assets and

I now have cash of 1 million. What are my liabilities?