The following is another example that Mad Man respectfully offers to his very conservative and Republican Observers that questions the intent of the GOP to help deserving Americans.
The "Earned Income Tax Credit" was voted into law in the 1970's by President Gerald Ford to assist working class Americans in making ends meet. This tax credit was created to supplement low wage worker's incomes with a tax refund that, in many cases, is greater than the amount that was withheld from their checks. For example, for a family with three children, the credit was up to $ 6, 242.00 per year and for those without children it was $ 503.00.
This tax credit has allowed millions of working class Americans to move off public assistance and has been particularly helpful to single mothers enabling them to shift from welfare to work.The "Earned Income Tax Credit" has been so successful that President Obama and house Republicans, (in the budget resolution that was passed last year), have called for an increase in the credit for workers without children.
Under their continued mantra to take from the poor and give to the rich, the Republican Party has dropped this idea and are proposing to let an increase in the credit for married couples and for families with three or more children expire at the end of 2017 as part of their 10 year plans to
eliminate the deficit. Congress enacted the increase as part of the 2009 stimulus, while extending it twice since then.
However, there is now a split in the conservative ranks of the GOP between Paul Ryan, who thinks that the credit is a helpful anti-poverty tool and those Republicans who consider it an effort by the Democrats to buy support from low income Americans. Unfortunately by rolling back the tax credits, there is fear that this will also diminish the incentive to work, especially for married couples with large families.
As usual, the State of California is taking yet, another step in distancing itself from the unfair, bigoted, and racist reach of the Republican party by considering a state earned income tax credit. Twenty-0ne other states have already done it and the California Legislature feels that this measure is worth considering.
The idea is expensive to the estimated cost of $ 1.4 billion dollars and would require California lawmakers to be more selective in their approach on who should receive the credit, but based on what the Congress is considering on the Federal Tax Credit, they should look very closely at approving this measure.
Send all private responses to: observationsofamadman@verizon.net
Mad Man
This tax credit has allowed millions of working class Americans to move off public assistance and has been particularly helpful to single mothers enabling them to shift from welfare to work.The "Earned Income Tax Credit" has been so successful that President Obama and house Republicans, (in the budget resolution that was passed last year), have called for an increase in the credit for workers without children.
Under their continued mantra to take from the poor and give to the rich, the Republican Party has dropped this idea and are proposing to let an increase in the credit for married couples and for families with three or more children expire at the end of 2017 as part of their 10 year plans to
eliminate the deficit. Congress enacted the increase as part of the 2009 stimulus, while extending it twice since then.
However, there is now a split in the conservative ranks of the GOP between Paul Ryan, who thinks that the credit is a helpful anti-poverty tool and those Republicans who consider it an effort by the Democrats to buy support from low income Americans. Unfortunately by rolling back the tax credits, there is fear that this will also diminish the incentive to work, especially for married couples with large families.
As usual, the State of California is taking yet, another step in distancing itself from the unfair, bigoted, and racist reach of the Republican party by considering a state earned income tax credit. Twenty-0ne other states have already done it and the California Legislature feels that this measure is worth considering.
The idea is expensive to the estimated cost of $ 1.4 billion dollars and would require California lawmakers to be more selective in their approach on who should receive the credit, but based on what the Congress is considering on the Federal Tax Credit, they should look very closely at approving this measure.
Send all private responses to: observationsofamadman@verizon.net
Mad Man
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