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Possible definitions for vax

ax
Hand tool used for chopping, splitting, chipping, and piercing. Stone Age hand axes originated in simple stone implements that acquired wooden hafts, or handles, about 30,000 BC. Copper-bladed axes appeared in Egypt about 4000 BC and were followed by axes with blades of bronze and eventually iron. The development of the iron-bladed felling ax in the Middle Ages made possible the vast forest clearances of Europe, N. and S. America, and elsewhere. Though the ax has lost much of its historic role to powered saws and other machinery, it remains a widely used tool with many uses.


fax
Device for the transmission and reproduction of documents by digitized signals sent over telephone lines. Fax machines scan printed text and graphics and convert the image into a digital code: 1 for dark areas, 0 for white areas. The code is transmitted through the telephone network to similar devices, where the documents are reproduced in close to their original form. Though the concepts for fax technology were developed in the 19th cent., widespread use did not occur until the 1970s, when inexpensive means of adapting digitized information to telephone circuits became common.


tax
Government levy on persons, groups, or businesses. Taxes are a general obligation of taxpayers and are not paid in exchange for any specific benefit. They have existed since ancient times--property taxes and sales taxes were known in Rome--but tariffs were favored over internal taxes as a source of revenue. In modern economies, there has been a trend away from tariffs in favor of internal taxes, which provide the majority of revenues. Taxes have three functions: to cover government spending, to promote stable economic growth, and to lessen inequalities in the distribution of income and wealth. They have also been used for nonfiscal reasons, such as to encourage or discourage certain activities (e.g., cigarette consumption). Taxes may be classified as direct or indirect. Direct taxes are those that the taxpayer cannot shift onto someone else; they are mainly taxes on persons and are based on an individual's ability to pay as measured by income or net wealth. Direct taxes include income taxes, taxes on net worth, death duties (i.e., inheritance and estate taxes), and gift taxes. Indirect taxes are those that can be shifted in whole or in part to someone other than the person legally responsible for payment. These include excise taxes, sales taxes, and value-added taxes. Taxes may also be classified according to the effect they have on the distribution of wealth. A proportional tax is one that imposes the same relative burden on all taxpayers, unlike progressive taxes and regressive taxes.


Vail
Town (pop., 1990: 3,600), W central Colorado. Located in the Rocky Mtns. west of Denver, it was founded as a resort town in 1962, and built in the style of an Alpine village. The skiable terrain around Vail Mtn. extends for 15 sq ...

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