Your liability would be the loan.

The government will tax your income.

And we'll assume right now that your debt is your main liability.

So the asset would be your house, whatever it's worth, and then your liability, and I'll call that A for asset, and then your liability would be your mortgage.

This is a liability.

Well, assets minus liability.

So that's a liability.

Your contribution to the school is tax deductible.

Why is it a liability?

Accounts Payable is a liability

That'd be my liability, right?

That could be a liability.

So I have zero liability.

Here, this is your assumed marginal income tax rate.

But from now on we'll have the simplification that debt is your liability.

Income tax is the tax for self sufficiency.

So now I have this liability.

I have 1,000 gold pieces liability.

And why is it a liability?

So it's a liability to me.

And pays off the liability holders.

So just this is liability, 750,000.

Subtract the liability from both sides.

Now, to do that with your tax dollars, thank you

Tax officials are zeroing in on income tax evasion.

Consumption tax is the just tax system for globalization.

The income tax rate increases in proportion as your salary rises.

We thought of people as a liability.

What is my assets minus my liability?

And then the offsetting liability for me,

Lynn Verinsky Because of liability insurance. (Laughter)

That we'll just put generally as liability.

So the only liability is this 5,000.

This is a liability for me, right?

So over here you had another liability.

Some tax attorney.

More unemployment results in less tax revenue through income tax.

liability side of the balance sheet as well.

that assets are equal to liability plus equity.

So he has a one IBM share liability.

For the liability side of my balance sheet

It has 4 billion of cash, 4 billion of liability, it could pay off its liability with that equity infusion.

pay their religious tax

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