The percentage depletion deduction was conceived in 1932 based on the accepted corporate tax principle that business taxes should be reduced in scale as thevalueof company equipment, structures and other assets diminish over time.
To adapt to this new reality, they need to understand that hitting the backsides of horses was never a value or principle, but simply a way to make carriages run faster.
Liberal Democrat education spokesman Phil Willis said ministers had "abandoned the fundamental principle" of making academic and vocational qualifications of equal value.
Now that Kim is making himself available, foreign governments are eager to make the most ofthe opportunity, unwittingly demonstrating another marketing principle: that scarcity confers value.