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Synopsis
It's rare that one of the nation's income transfer programs finds favor among both liberals and conservatives, but the Earned Income Tax Credit (EITC) has done just that. Administered by the Internal Revenue Service, the EITC rewards low- to moderate-income individuals and families with a significant refundable credit even if they owe little or no taxes. Conservatives find the EITC's work requirement appealing, while liberals see the program as a source of * assistance for the working poor. No wonder, then, that the EITC has grown to become the centerpiece of the nation's antipoverty programs. In Helping Working Families: The Earned Income Tax Credit, Saul D. Hoffman and Laurence S. Seidman offer an up-to-date assessment of the EITC in which they analyze, evaluate, summarize, and critique the current state of the program. The authors find that, overall, the EITC works well, and that it has earned its political popularity. Yet they also uncover several problem areas that they address with specific recommendations based on their analysis. Hoffman and Seidman point to four facets of the EITC that seem inconsistent with the intent of the program. First, it penalizes work among workers with income at the high end of the EITC schedule. Adding the EITC "phase-out" rate of 21 percent to federal income tax and the payroll tax yields a total marginal tax rate of approximately 50 percent, a rate high enough to discourage work among married couples with moderate incomes. Next, the EITC imposes substantial marriage penalties. For instance, if a full-time minimum wage worker marries a full-time minimum wage worker with two children, they suffer a penalty of more than $1,600 compared to what they would have received if they had remained single. The EITC also leaves larger families with low-wage workers stuck in poverty. A married couple with two children and a single wage earner working full-time at $6.50 per hour is still poor even after adding in their $4,000 EITC income
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