Why do we need earned income credit? (school, economic, education)

[elan]

"I am definitely with you there. And it's not just taxes that set me off. We elected not to have children, because we didn't feel economically stable enough to afford them - so I get a little bent when we realize that we pay for them anyway."

I so agree, people without children should not be paying for those that do. I had children only after I was able to afford them. I would have dearly loved to have had more kids, but I didn't because I would not have been able to provide for them properly. Little did I know that I could have just popped out all the kids I desired and others would have paid for their braces, books, phones, college, job training, food, tutoring and what ever the heck else they needed. It burns me up, so I can only imagine how those that opted out feel. It's not fair at all.

[freemkt]

Originally Posted by yinduffy

It's just a little way of saying "Thank you for voting Democratic!"

Then why did Nixon sign it into law?

[TriMT7]

Supply side vs. demand side economics. Again.


"Business owners" and "job producers," take note: Someday, nobody is going to be able to buy your crap. This is especially relevant as businesses find ways to pay their employees less and less for the same work.


The EIC helps boost the economy. It's usually money spent at stores, car dealerships, restaurants, etc. That's what the American economy is built upon, like it or not.

[EinsteinsGhost]

Originally Posted by yinduffy

It's just a little way of saying "Thank you for voting Democratic!"

Or as Ronald Reagan put it...
"the best anti-poverty, the best pro-family, the best job creation measure to come out of Congress."

[freemkt]

Originally Posted by emerald_octane

I need a little boost this year because I bought a car that I couldn't afford. I also squirted out a kid so I will also collect my child tax refund as well.
Thanks, Taxpayers!

I think you can thank GW Bush and the family values crowd for the child tax credits.

(One of the few things for which I actually blame Bush.)

[pghquest]

Originally Posted by yinduffy

It's just a little way of saying "Thank you for voting Democratic!"

Actually Bush increased the EIC substantially, but most Democrats dont know that..

[EinsteinsGhost]

Originally Posted by pghquest

Actually Bush increased the EIC substantially, but most Democrats dont know that..

Yinduffy is a democrat? Damn!

[whogo]

Originally Posted by EinsteinsGhost

Or as Ronald Reagan put it...
"the best anti-poverty, the best pro-family, the best job creation measure to come out of Congress."

The person most credited for the idea is Milton Friedman. Not a Democrat. It was a compromise over other ideas such as a national minimum income.

[pghquest]

Originally Posted by freemkt

Then why did Nixon sign it into law?

Originally Posted by EinsteinsGhost

Or as Ronald Reagan put it...
"the best anti-poverty, the best pro-family, the best job creation measure to come out of Congress."

Pretty much disproves the Republicans hate the poor argument, doesnt it?

[Swingblade]

The EIC is here to stay since our leaders know it gases the economy for a period of time and increases the all important consumer spending. Right now they can use the excuse the economy is too fragile for them to cut it. And of course it will be considered a attack on the working poor and racist. The EIC is a sacred cow now like SS, Medicare, etc etc.