Bob Adelmann offers a critical review of proposal to expand EITC
[Craig Axford]
SUMMARY: In this blog post, author Bob Adelmann offers a critique of President Obama’s proposal to double the Earned Income Tax Credit (EITC) program. The EITC was modeled after economist Milton Friedman’s “negative income tax” idea. Currently the EITC offers workers with children a tax credit of just over $500 on incomes of up to $6,570 according to the author, but the tax credit begins to decline once incomes reach $8,220.
Bob Adelmann, “President Proposes Doubling Tax Subsidy for the Poor”, The New American, March 13, 2014
