Marco Rubio wants the government to subsidize low wage workers (unemployed, wages)

[Goinback2011]

Originally Posted by freemkt

They would have to be unmarried to get EIC.

It made sense when it was created, then Congress expanded it several times and people figured out ways to game the program.

They are. They also get 'child' tax credits, another welfare program that needs to go away.

[AppalachianAmerican]

Originally Posted by Goinback2011

They are. They also get 'child' tax credits, another welfare program that needs to go away.

Pft. If anything we need to do like Russia does and give 9k for a 2nd child...at least they seem to care if their population dies or not.

[wutitiz]

.
The minimum wage law is essentially a sham of a law. It hurts those it purports to help: low skill workers. If you think we can help people just by declaring a minimum, why not declare it as $25/hr? The answer is that you can't get something for nothing; if you want to actually help people, you have to fork over some money. That's what Rubio's proposal does. That's why agriculture price supports are done in a similar fashion. They were designed by organized farm groups that demanded results, not window dressing.

Is it big government? Yes. But at least it's big government that is not a sham, unlike what we have now with the minimum wage. It eliminates the effect of cutting out the bottom rungs of the career ladder, which the minimum wage does. This would get people on the ladder, and as they move up in pay scale, the subsidy goes away. Upon first blush I'd say this is a great proposal from Sen. Rubio.

[old_cold]

Originally Posted by freemkt

They would have to be unmarried to get EIC.

It made sense when it was created, then Congress expanded it several times and people figured out ways to game the program.

A couple does not have to be unmarried to qualify.

[middle-aged mom]

Originally Posted by Chimuelojones

Right now EIC is almost given to everyone that applies. I have heard of some families recieving around 8K.


.

One needs to qualify for EITC. The tax credit depends on total income and number of children. It is a long time function of the tax code which favors low income earners with children and seriously wealthy.

[middle-aged mom]

Originally Posted by arctichomesteader

One of my cousins got $10K in EIC last year for all their kids. I don't know how they pull it off but they do.

The refund is highly dependent on the number of withholding deductions claimed for payroll tax purposes.

[freemkt]

Originally Posted by old_cold

A couple does not have to be unmarried to qualify.

Ah, but a couple making $60K does have to be unmarried to qualify.

Reading Is Fundamental

[freemkt]

Originally Posted by middle-aged mom

The refund is highly dependent on the number of withholding deductions claimed for payroll tax purposes.

??? W-4 withholding deductions reduce your refund.

[Chimuelojones]

Originally Posted by middle-aged mom

One needs to qualify for EITC. The tax credit depends on total income and number of children. It is a long time function of the tax code which favors low income earners with children and seriously wealthy.

Thanks for clarifing the obvious. I dont "qualify" so I dont "apply"/claim for the credit.

[middle-aged mom]

EITC became a part of the tax code in 1975. It was expanded and pegged to inflation in the 80's. Reagan deemed it " the best anti-poverty, pro-family job creation measure to ever come out of Congress".