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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.
One indicator of sensible fiscal practices is maintaining balance between spending and revenues. Occasional deficits may be necessary.
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.
Poverty is defined by comparing household income with the minimum income required for basic needs. People whose income is below the threshold are considered poor.
In 2020, nearly 9.5 million adults age 50 and older lacked consistent access to enough food for an active, healthy life due to inadequate financial resources.