News
FOX Business | Do You Qualify for the Earned Income Tax Credit?
In 1975, Congress introduced the Earned Income Tax Credit (EITC) as an incentive for folks to go to work and to help relieve the burden of Social Security taxes. This tax credit is designed for low-income workers, especially those with children. The amount of credit one can receive is on a sliding scale depending on the amount of earned income received and the number of children the taxpayer claims as dependents.
Econ Comments & Analysis
Mercatus | Soaking the Rich
In January, as part of a deal to avert the fiscal cliff, Congress increased marginal tax rates on higher-income earners to Clinton-era levels while preserving existing Bush-era rates for most taxpayers.
Blogs
Neighborhood Effects | When politicians can’t see their own loopholes
According to a 2008 IRS report, the Federal Tax Code “has grown so long that it has become challenging even to figure out how long it is.”
