"Submortgage" is a word in LAW AND LEGAL
when a person who holds a mortgage as security for a loan which he has made, procures a loan to himself from a third person, and pledges his mortgage as security, he effects what ls called a “submort-gage.”
Think about ethanol again. The benefits of that $7 billion tax subsidy are bestowed on a small group of farmers, making it quite lucrative for each one of them. Meanwhile, the costs are spread over the remaining 98 percent of us, putting ethanol somewhere below good oral hygiene on our list of everyday concerns. The opposite would be true with my plan to have left-handed voters pay subsidies to right-handed voters. There are roughly nine right-handed Americans for every lefty, so if every right-handed voter were to get some government benefit worth $100, then every left-handed voter would have to pay $900 to finance it. The lefties would be hopping mad about their $900 tax bills, probably to the point that it became their preeminent political concern, while the righties would be only modestly excited about their $100 subsidy. An adept politician would probably improve her career prospects by voting with the lefties.Here is a curious finding that makes more sense in light of what we‘ve just discussed. In countries where farmers make up a small fraction of the population, such as America and Europe, the government provides large subsidies for agriculture. But in countries where the farming population is relatively large, such as China and India, the subsidies go the other way. Farmers are forced to sell their crops at below-market prices so that urban dwellers can get basic food items cheaply. In the one case, farmers get political favors; in the other, they must pay for them. What makes these examples logically consistent is that in both cases the large group subsidizes the smaller group.In politics, the tail can wag the dog. This can have profound effects on the economy.
WORD SUGGESTIONS
What is the strongest animal?A racehorse, because it can take hundreds of people for a ride at once!
The act or agreement of assuming or taking upon one’s self; the un* dertaking or adoption of a debt or …
Read the complete definitionIn the civil law. He who lends to another a thing for a definite time, to be enjoyed and used …
Read the complete definitionIn French law. The civil process of arrest of the person, which is imposed upon vendors falsely representing their property …
Read the complete definitionThe act by which the title to property, esp. real estate, is transferred; transfer of ownership; an instrument in writing …
Read the complete definitionTo subject, as property, to liability for a debt or engagement without delivery of possession or transfer of title; to …
Read the complete definitionluag a {1} loose, not tightly attached or wound around. Luag kaáyu pagkabaáta ang písì, The rope is loosely tied. …
Read the complete definitionlukat v [A; a] {1} redeem s.t. pawned or mortgaged. Marimáti ang singsing ug dì nímu lukatun, The ring will …
Read the complete definitionAn estate created by a conveyance absolute ln lts form, hut intended to secure the performance of some act, such …
Read the complete definitionThe person to whom property is mortgaged, or to whom a mortgage is made or given.
Read the complete definitionLat In the civil law. A general name for any kind of fraud not falling under any specific class. But …
Read the complete definition