One of the biggest drivers of the fact that 47% of households pay no income tax is Republican public policy. Specifically, the Earned Income Tax Credit or EITC. Now, to be clear, it’s a good policy. I’m not sure whether it’s better than others like just increasing the minimum wage. But we’re much better with it than without it. Again, though, that’s Ronald Reagan’s baby right there. And something Democrats eventually embraced.
The EITC was introduced in 1975
"The Earned Income Tax Credit (EITC) grew from $3.9 billion in 1975 (in
1999 dollars), the ﬁrst year it was part of the tax code"
I'm upset, because, for me, Josh Marshall is the most trusted name in news. If he makes mistakes who can I count on ?