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In general, only cash income is subject to income tax. In-kind benefits—benefits that are received as goods or services rather than as cash—are not.
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.
People age 50 and older make 85 percent of their local trips by private vehicle. The vast majority of them hold a driver’s license.
Affordability, accessibility, supportive services in housing, and fair housing make up the bulk of this chapter.
Housing costs determine whether individuals and families can live in a neighborhood without sacrificing other basic necessities, such as food and health care.