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That's absolutely true for most new Federal economic/tax policies that are relatively untested. But, the EITC has been around since the mid-to-late 70s. We've
by TimJYoung 9y ago
That's absolutely true for most new Federal economic/tax policies that are relatively untested. But, the EITC has been around since the mid-to-late 70s. We've got loads of data on its effects under all sorts of different economic scenarios, some of which are included here:
http://www.epi.org/publication/ib370-earned-income-tax-credit-and-the-child-tax-credit-history-purpose-goals-and-effectiveness/ http://www.epi.org/publication/ib370-earned-income-tax-credi...
- greedo 9y agoSo Federal Income tax is a relatively old tax policy, weighing in at a hearty 104 years of age. And modifying it and understanding the ramifications of changes to the tax code is easy? We have a congressional shitstorm whenever either party wants to raise or lower taxes. And the old adage about getting three answers when you ask two economists what'll happen is still true, even discounting ideological baggage.