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earned income tax credit
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earned income tax credit


Reagan was a president who . . . slashed welfare spending but also midwifed the working poor-friendly Earned Income Tax Credit into being. . .
Ross Douthat & Reihan Salam  --  Grand New Party
  a refundable tax credit for low-income, working taxpayers
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earned income tax credit earned income credit
Notes:
The earned income tax credit (EITC) is like a negative income tax that pays extra money to poor people who are working.

The EITC is the largest poverty reduction program in the United States. It assists tens of millions of low-wage families.  It has two major advantages over increasing the minimum wage:

1. Most people earning minimum wage are not below the poverty line; e.g., teenagers from well-off families.

2. Raising the minimum wage results in fewer low-wage jobs as some jobs are replaced with technology, and some jobs are eliminated when customers won’t pay more for a service.
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  • Reagan was a president who . . . slashed welfare spending but also midwifed the working poor-friendly Earned Income Tax Credit into being. . .
    Ross Douthat & Reihan Salam  --  Grand New Party
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Associated words [difficulty]:   earned income tax credit , Social Security [2] , minimum wage [4] , Medicaid [7] , Medicare [7] , white paper [3] , green card [4] , minimum wage [4] , non-governmental organization (NGO) [5] , grassroots [6] , European Union [7] , balkanize [8] , National Labor Relations Board [9]
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Most commonly used in these subjects:   Public Policy & Politics, Business, Personal Finance
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