Describe how the tax system promotes social objectives. Use specific tax codes to support your answer.
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There are dozens of social policies that are promoted and encouraged by the tax code. In effect, some tax policies were created for the sole purpose of creating social policies. A few of these include deductions associated with home ownership, accelerated depreciation methods for business asset purchases, and tax credits for energy conservationism.
Home owners enjoy several deductions including mortgage interest and property taxes paid. 56e 26 U.S.C. § 163(h) deals specifically with details like qualifying homes and mortgage ...
The relationship between tax systems and social objectives are addressed. Tax codes are used to illustrate the explanation.