The FairTax is a proposal to reform the federal tax code of the United States. It would replace all federal income taxes (including the alternative minimum tax, corporate income taxes, and capital gains taxes), payroll taxes (including Social Security and Medicare taxes), gift taxes, and estate taxes with a single broad national consumption tax on retail sales. The Fair Tax Act would apply a tax, once, at the point of purchase on all new goods and services for personal consumption. The proposal also calls for a monthly payment to all family households of lawful U.S. residents as an advance rebate, or "prebate", of tax on purchases up to the poverty level.

Downtown Astana

The economy of Kazakhstan is the largest in Central Asia in both absolute and per capita terms. In 2021, Kazakhstan attracted more than US$370 billion of foreign investments since becoming an independent republic after the collapse of the former Soviet Union.

It possesses oil reserves as well as minerals and metals. It also has considerable agricultural potential, with its vast steppe lands accommodating both livestock and grain production. The mountains in the south are important for apples and walnuts; both species grow wild there. Kazakhstan's industrial sector rests on the extraction and processing of these natural resources. (Full article...)

"What is prudence in the conduct of every private family can scarce be folly in that of a great kingdom. If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry employed in a way in which we have some advantage. The general industry of the country, being always in proportion to the capital which employs it, will not thereby be diminished, no more than that of the above-mentioned artificers; but only left to find out the way in which it can be employed with the greatest advantage. It is certainly not employed to the greatest advantage when it is thus directed towards an object which it can buy cheaper than it can make. The value of its annual produce is certainly more or less diminished when it is thus turned away from producing commodities evidently of more value than the commodity which it is directed to produce. According to the supposition, that commodity could be purchased from foreign countries cheaper than it can be made at home. It could, therefore, have been purchased with a part only of the commodities, or, what is the same thing, with a part only of the price of the commodities, which the industry employed by an equal capital would have produced at home, had it been left to follow its natural course. The industry of the country, therefore, is thus turned away from a more to a less advantageous employment, and the exchangeable value of its annual produce, instead of being increased, according to the intention of the lawgiver, must necessarily be diminished by every such regulation."

—Adam Smith, The Wealth of Nations, 1776

• ... that in 1958, Virginia Ali and her husband Ben Ali founded Ben's Chili Bowl, a landmark Washington, D.C. restaurant where Martin Luther King Jr., Jesse Jackson, and Stokely Carmichael would often eat?
• ... that Peachtree Arcade, a shopping arcade in the U.S. state of Georgia, was conceived after a local businessman visited the Cleveland Arcade?
• ... that Ruffian Games co-developed Kinect games to stay in business after the release of Crackdown 2?
• ... that the 2017 acquisition of Katz Broadcasting by the E. W. Scripps Company was seen as a validation of the business of diginets?
• ... that in 2007, Jeremiah Moss started Jeremiah's Vanishing New York, a blog that functions as a "digital obituary column" for old New York City small businesses lost to gentrification?
• ... that the deity in Nakodaji is considered as a business partner by businessmen?

December 1:

• 1911 - Calvin Griffith, Major League Baseball team owner, was born on this day.

• ... that Italy is the third largest producer of wine in the world?

• ...that Calouste Gulbenkian was known as Mr. Five Percent because he retained 5% of the shares of Royal Dutch/Shell, the second-largest corporation in the world by revenue, which he participated in the formation of in 1907?

• ...that prospect theory was developed by Daniel Kahneman and Amos Tversky in 1979 as a psychologically realistic alternative to expected utility theory?

• ...that Nobel laureate Amartya Sen's publications in the 1960s and 1970s helped develop social choice theory, which first came to prominence in the work by the American economist Kenneth Arrow?

• ...that Harvard economist Susan Athey was the first female recipient of the John Bates Clark Medal?

• ...that N. Gregory Mankiw left law school after earning his Ph.D. in economics from the Massachusetts Institute of Technology in 1984?

• ...that "Stagflation" is a term generally attributed to British politician Iain Macleod, who coined the term in a speech to Parliament in 1965?