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Tax credits and deductions are two ways to reduce tax liability. Tax credits directly reduce the amount of taxes owed, dollar-for-dollar. They benefit all those who owe tax.
The federal estate tax was enacted in 1916 to raise revenues. Its intent was also to reduce the concentration of wealth, thus increasing economic equality.
State and local governments issue bonds to finance important projects that meet social goals and benefit communities. Bonds are attractive because they provide financial flexibility.
Employers and policymakers can take steps to ensure that workers can balance work with other responsibilities such as providing care or managing an illness.
State and local governments charge fees for the use of certain services. These fees are based on the principle that people should pay according to the benefits they receive.
Taxes are complicated. Compliance often poses challenges.
In addition to setting standards with respect to the minimum wage, overtime, and other factors affecting worker pay, the federal government also sets standards for workplace health and safety.
Federal, state, and local consumer protection agencies all have a role in safeguarding consumers against fraud, deception, and unfair practices.
New technologies have tremendous potential to transform the lives of all people.
In cases of extremely short supply or high demand, sellers may attempt to profit from the scarcity of essential products and services.