>>A real middle-class tax plan would likely include a large expansion of the earned income tax credit.
For decades the EITC has supplemented lower-income people’s pay through a tax refund. It’s pro-work, because it increases the payoff from holding down a job. <<
The EITC is an illegal direct transfer of funds from the productive to the pockets of the unproductive. It rewards sloth (that is “just making it and if I advance I lose money”).
ANY tax break is going to — hang on to your hats, folks! — help PEOPLE WHO PAY TAXES!!
From http://econostats.org/who-funds-the-federal-government-2/:
“
Overall, for 1979, including Social Security payments, for every $1.00 earned:
The lowest income quintile paid 7.5 cents to the federal government;
The second lowest income quintile paid 14.5 cents to the federal government;
The middle quintile paid 19 cents to the federal government;
The second highest income quintile paid 21.5 cents to the federal government;
The highest income quintile paid 27.1 cents to the federal government; and,
The top 1 percent paid 35.1cents to the federal government.
“
Says it all.
That has nothing to do with the argument to eliminate the state and local tax deduction, unless you are arguing that taxes overall and the transfer of wealth is evil. I agree. But entitlements are NOT EVEN DISCUSSED by the GOP in this tax bill.
So, what shall we talk about?