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.
Grandparents and other relatives play an important caregiving role in family well-being. Support from extended family is especially vital in families with low incomes.
There are two main ways for governments to collect taxes. One is by taxing income directly. This is known as an income tax. The other is taxing only income that is spent.
Currently, some types of income are either taxed at lower rates than ordinary income or are exempt from taxation to some degree.
In general, only cash income is subject to the 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.
The federal estate tax was enacted in 1916 in an effort 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.
Several provisions in the Affordable Care Act (ACA) address the health care infrastructure and the continued viability of safety-net providers
A chronic condition or illness is one that is likely to last more than one year, requires ongoing medical attention, and can limit a person’s daily activit