Bloomberg View: "The Working Poor Get Their 15 Minutes"

by | Mar 13, 2014 | Research | 1 comment

President Barack Obama's gauntlet on raising the earned income tax credit. Photographer: Andrew Harrer/Bloomberg

Bloomberg View

[Craig Axford]

President Obama is proposing to significantly expand the Earned Income Tax Credit (EITC).  This program arose out of conservative economist Milton Friedman’s idea of a negative income tax (form of BIG) and has traditionally enjoyed bipartisan support.

Bloomberg View, “The Working Poor Get Their 15 Minutes”, Bloomberg View, March 4, 2014.

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godenich
godenich
10 years ago

This is a welfare tax that benefits producers and encourages them to pay low wages. It is also targeted to the working poor. A minimum wage is better for the taxpayer. A producer/consumer liquidity insurance fiscal policy indexed to an economic indicator like GDP would be preferable, namely BI.

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