Another important development regarding of income tax law over the past 20 years has been the objectives of tax law.
The primary objective is to raise revenue for the government. What are some examples of the secondary objectives which encourage social behavior or encourage investment?
Secondary objectives of tax law changes can include:
1. Allowing huge amounts of depreciation under Section 179 was designed to promote investment in infrastructure which then grows a business to hire more people to make more saleable product. That increases the GNP and the prosperity of the US.
2. Reducing the capital gain ...
The solution lists five examples where the secondary objectives of tax law to either modify social behavior or encourage investment. Each example is two or three sentences.