Definitions
from Wiktionary, Creative Commons Attribution/Share-Alike License.
- initialism US, taxation Earned Income Tax Credit
Etymologies
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Examples
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Victorian arguments to the contrary about how the EITC is a 'subsidy' because the policy gives money to the poor are quaint in their appeal to 'natural law' and partial-equilibrium views but they don't make much sense from an economic standpoint that tries to understand the role of incentives and relative prices.
Tax Reform, Arnold Kling | EconLog | Library of Economics and Liberty 2009
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The EITC is refundable, which means you'll get the full credit even if it exceeds the amount you'd have owed in taxes.
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I don't quite understand how a reverse tax or EITC is being neutral towards the lazy.
Income Redistribution Proposals, Arnold Kling | EconLog | Library of Economics and Liberty 2009
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The EITC is the most illegal-immigrant friendly of poverty programs; illegal immigrants constitute a far larger share of the poverty population now.
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I don't quite understand how a reverse tax or EITC is being neutral towards the lazy.
Income Redistribution Proposals, Arnold Kling | EconLog | Library of Economics and Liberty 2009
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Finally, The EITC is the most accessible of the major entitlement programs and used by more people than food stamps and welfare (TANF) * combined.
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(The problem, as I understand it, with the way we calculate the EITC is that we act as the refundable portion were an income tax refund, rather than a payroll tax cut).
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Implication: The EITC is a textbook case of unintended consequences.
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(The problem, as I understand it, with the way we calculate the EITC is that we act as the refundable portion were an income tax refund, rather than a payroll tax cut).
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Currently, eligibility for the EITC is restricted to low-wage earners who are responsible for children.
How Can the Achievement Gap Be Closed? A Freakonomics Quorum - Freakonomics Blog - NYTimes.com 2008
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