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Author: WendyBG Big gold star, 5000 posts Top Favorite Fools Feste Award Winner! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 2123013  
Subject: Earned income tax credit & Repubs Date: 10/3/2012 11:08 AM
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An acquaintance, a 30-something single mother of two who works as a receptionist in a doctor's office, told me last week that she is hanging on till tax time.

I asked her why (since from my perspective tax time means paying money to the government).

She answered that the government sends her money at tax time. The earned income tax credit is a major part of her annual income.

If the Republicans (such as Paul Ryan) are incensed that 47% of Americans don't pay taxes, they must go ballistic over the earned income tax credit.

Will the Republicans try to repeal the earned income tax credit if they win the election?

That would withdraw a crucial support from the working poor. The widening income gap between rich and poor would increase even more.


Importantly, the poor spend this money on necessities, increasing the velocity of money in the economy. Repeal of the earned income tax credit would slow the economy, which is just above stall speed.
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