Working Poor At It Again
April 25, 2003 · Posted in Know your current events
The IRS has identified the working poor’s Earned Income Credit as an area of fraud they need to address promptly (NYT link, requires free registration, props Nader). This tax credit has been instrumental in raising a vast number of families above the poverty level. Now many of these families will be required to furnish proof of eligibility in a manner likely to make obtaining the dollars too difficult for many properly eligible families. I for one am much happier subsidizing a few extra hard-working family types than cheese-ball corporations setting up off-shore tax shelters or whatever they do. Lay off the workin’ folk. Not layoff.
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You’ve gotta also love the $10 minimum corporate tax that so many Oregon companies paid this year.
How many write offs does that take?