Quote:
Originally Posted by Snake Doctor
RE: Spread the wealth around
The earned income tax credit was actually Reagan's idea, and it was expanded under Clinton. (This is the refundable tax credit for people with no tax liability)
It was created to make work more attractive than welfare. IMO they should just raise the minimum wage above the poverty level and get rid of the EITC....but what can ya do?
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Ironic name since the less your earn the more credit you get. You don't even have to work fulltime at minimun wage to earn enough to get the full credit. I agree raise the minmum wage then to help small business out you can give them a tax break with the savings of not having to dole out earned income checks anymore. Not to mention that earned income credits aren't taxed. A pay raise would be. That will also help offset any tax breaks for small businesses. It would also make taxes easier and reduce fraud.