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"We should pursue reforms that encourage and reward work. That’s why I am developing legislation to replace the earned income tax credit with a federal wage enhancement for qualifying low-wage jobs," Rubio said. "This would allow an unemployed individual to take a job that pays, say, $18,000 a year -– which on its own is not enough to make ends meet –- but then receive a federal enhancement to make the job a more enticing alternative to collecting unemployment insurance." Marco Rubio's Cure For Poverty? Subsidize Crummy Jobs, Make Massive Block Grants
Wait a minute here. How is this not "big government"? He wants the government to subsidize someone making 18k a year so that they will make what? 22k a year? So the government will cut the 18k worker a 4k check every year? A federal enhancement eh? That money comes from tax payers.
Why not just index minimum wage with inflation? The real minimum wage should be $10.24 anyway. Raising the minimum wage is a much better idea than the government subsidizing workers. Rubio's plan takes money from tax payers. It is actually wealth distribution. Raising the minimum wage doesn't do that.
"We should pursue reforms that encourage and reward work. That’s why I am developing legislation to replace the earned income tax credit with a federal wage enhancement for qualifying low-wage jobs," Rubio said. "This would allow an unemployed individual to take a job that pays, say, $18,000 a year -– which on its own is not enough to make ends meet –- but then receive a federal enhancement to make the job a more enticing alternative to collecting unemployment insurance." Marco Rubio's Cure For Poverty? Subsidize Crummy Jobs, Make Massive Block Grants
Wait a minute here. How is this not "big government"? He wants the government to subsidize someone making 18k a year so that they will make what? 22k a year? So the government will cut the 18k worker a 4k check every year? A federal enhancement eh? That money comes from tax payers.
Why not just index minimum wage with inflation? The real minimum wage should be $10.24 anyway. Raising the minimum wage is a much better idea than the government subsidizing workers. Rubio's plan takes money from tax payers. It is actually wealth distribution. Raising the minimum wage doesn't do that.
Just on reading your post, seems to me He wants to replace EIC with an incentive for an individual to move up.
Right now EIC is almost given to everyone that applies. I have heard of some families recieving around 8K.
Seems Rubio's plan reduces the incentive amount and makes it contingent on moving to a better paying job. Just my supposition, but the Rubio incentive would not be given every tax time unless the person moves up in pay scale every few years. EIC is given yearly.
Just on reading your post, seems to me He wants to replace EIC with an incentive for an individual to move up.
Right now EIC is almost given to everyone that applies. I have heard of some families recieving around 8K.
Seems Rubio's plan reduces the incentive amount and makes it contingent on moving to a better paying job. Just my supposition, but the Rubio incentive would not be given every tax time unless the person moves up in pay scale every few years. EIC is given yearly.
I could be wrong.
The Earned Income Tax Credit reduces the amount of taxes low and moderate income people pay.You heard some families receive 8k? Nonsense man. In the case of someone workers who make really low wages the EIC can eliminate their tax bill and they will actually get a refund from government (of money they never paid). But the most I've seen in this regard is bout $500.
Rubio's plan is to eliminate the EIC, which I don't think is a bad idea. But he's replacing it with a program where the government subsidizes low wage workers. The government shouldn't be doing this. Kind of hypocritical for Rubio to talk about "big government" and then propose this. Compared to this plan raising the minimum wage would be a "small government" idea.
The Earned Income Tax Credit reduces the amount of taxes low and moderate income people pay.You heard some families receive 8k? Nonsense man. In the case of someone workers who make really low wages the EIC can eliminate their tax bill and they will actually get a refund from government (of money they never paid). But the most I've seen in this regard is bout $500.
Rubio's plan is to eliminate the EIC, which I don't think is a bad idea. But he's replacing it with a program where the government subsidizes low wage workers. The government shouldn't be doing this. Kind of hypocritical for Rubio to talk about "big government" and then propose this. Compared to this plan raising the minimum wage would be a "small government" idea.
Yes 8k. Like I said "I heard". Eventhough, my 8k is closer to accurate than your $500.
Those who qualify for EITC for tax year 2012, can get a credit from:
$2 to $475 with no qualifying children
$9 to $3,169 with one qualifying child
$10 to $5,236 with two qualifying children
$11 to $5,891 with three or more qualifying children
The Earned Income Tax Credit reduces the amount of taxes low and moderate income people pay.You heard some families receive 8k? Nonsense man. In the case of someone workers who make really low wages the EIC can eliminate their tax bill and they will actually get a refund from government (of money they never paid). But the most I've seen in this regard is bout $500.
Rubio's plan is to eliminate the EIC, which I don't think is a bad idea. But he's replacing it with a program where the government subsidizes low wage workers. The government shouldn't be doing this. Kind of hypocritical for Rubio to talk about "big government" and then propose this. Compared to this plan raising the minimum wage would be a "small government" idea.
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.
Yeah we get the EIC on our taxes. Last year got 7k back. It was nice. Only time of the year we can go see family/bought a new vehicle since ours was stolen/torched. Get new clothes etc. Getting more than that back this year.
Its a great thing seeing how the poor get screwed every other way when it comes to pay. We get min wage or close to it so this is how we get more money legally. I am all for keeping the EIC.Bad enough Obama cut the child tax credit back.
It's not just 'low wage' workers who are using the tax system as a welfare program.
I know a $60K/year couple with 2 small kids who pay no taxes due to EIC and other deductions and get $1000 back in welfare from the taxpayers.
It's an idiotic welfare program.
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.
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