AARP Eye Center
Search
Prior to finalizing annual budget decisions, localities should inform taxpayers of the property tax rate required to maintain revenues at the same level as the prior year.
The primary sources of government revenue are income, sales, and property taxes.
Two federal programs help states provide a broad range of social services important to older adults.
There is an increasing interest in taxes on energy consumption.
Policymakers should take action to raise revenues, promote energy conservation, and reduce climate change.
Carbon taxes or cap-and-trade systems that would increase energy-related and other prices must include measures to compensate for regional differences in energy costs and to adequately protect cons
Excise taxes are sales taxes on individual commodities, services, or transactions such as motor fuel, cigarettes, or home sales. For example, motor fuel taxes fund highways.
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.
Tax reform should focus on raising sufficient revenue. It should make the tax system more equitable and efficient. Reforms should:
States should increase the progressive nature of their income tax systems.