Raise the EITC

[idestroyedthetoilet]

Bringing it back up because Buffett is bringing it up again. I've been promoting it a bit here for years and think it's easily the smartest way to cure America's poverty problem. It's extremely affordable too.

Thoughts?

 

[One Brow]

Money is usually a good cure for poverty.

 

[JazzGal]

We already have the EITC, right? And it hasn't cured poverty yet.

 

[Miggs]

I don’t care enough to read but if the money went directly toward housing, then sure. If it’s money people can use on whatever they want, then no. There needs to be firm guidelines. One of which is people who work more than 40-45 hours a week can not get this. We need poor parent(s) in the home.

 

[Gameface]

I don’t care enough to read but if the money went directly toward housing, then sure. If it’s money people can use on whatever they want, then no. There needs to be firm guidelines. One of which is people who work more than 40-45 hours a week can not get this. We need poor parent(s) in the home.

I think that's a really good point. I'm also a huge supporter of anything that would reduce the "standard" work week from 40hrs to something, anything, less.

This idea that the only time in your life when you're worth anything is when you are at your job is BS. And most of us are just kind of at our job most of the time. If I worked 20hrs/wk and it was like get there and WORK for the entire time I was there and then leave I know I could get more done in a 20hr week than I do in a 40hr week.

 

[Miggs]

I think that's a really good point. I'm also a huge supporter of anything that would reduce the "standard" work week from 40hrs to something, anything, less.

This idea that the only time in your life when you're worth anything is when you are at your job is BS. And most of us are just kind of at our job most of the time. If I worked 20hrs/wk and it was like get there and WORK for the entire time I was there and then leave I know I could get more done in a 20hr week than I do in a 40hr week.

Yep. There’s got to be some company in private who limits their employees to like 30-35 hours a week yet pays well and provides kickass bennies, with the understanding that, as an employee, you have to work hard and be great at your job because anyone and everyone would die to have that job.

Somewhere there has to be a company that exists like that.

 

[idestroyedthetoilet]

We already have the EITC, right? And it hasn't cured poverty yet.

For those who care to look, there are plenty of studies showing the effect of EITC reducing poverty. Increasing it will only reduce it more. It's the easiest politically, most effective and cheapest way, and targets those most in need.

 

[idestroyedthetoilet]

I don’t care enough to read but if the money went directly toward housing, then sure. If it’s money people can use on whatever they want, then no. There needs to be firm guidelines. One of which is people who work more than 40-45 hours a week can not get this. We need poor parent(s) in the home.

Expanding the EITC would cut the need for many to work a second job or for both parents to work.

 

[Miggs]

Expanding the EITC would cut the need for many to work a second job or for both parents to work.

Would everyone be eligible? My wife makes really good money.

 

[bigb]

I don’t care enough to read but if the money went directly toward housing, then sure. If it’s money people can use on whatever they want, then no. There needs to be firm guidelines. One of which is people who work more than 40-45 hours a week can not get this. We need poor parent(s) in the home.

How do you translate that to a salary employee. Or like me, a guy who is basically never “off the clock” and draws a salary.


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[Rubashov]

For those who care to look, there are plenty of studies showing the effect of EITC reducing poverty. Increasing it will only reduce it more. It's the easiest politically, most effective and cheapest way, and targets those most in need.

I would argue that the working poor are better served by the collective provisions of services like medicare, decent public transport, quality schools and access to University education. The USA compared to other OECD nations has a fairly low level of taxation, I think around 24 cents out of every dollar in the economy goes through the treasury, Norway and Sweden by comparison redistribute over 60 cents out of every dollar through their treasury. This may have something to do with why they regularly are rated as having the lowest disparity between rich and poor in the developed world.

 

[Gameface]

How do you translate that to a salary employee. Or like me, a guy who is basically never “off the clock” and draws a salary.


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I think salary employees would be the easiest to move to a reduced workweek. I'm just gonna say it, they are at work 50+ hours a week so that they can do 12 hours of work. That's the ****ing facts.

Your position is a little different. Other than charging more for the work you do, which doesn't work in the competitive bid system, there is no solution unless you want to earn less.

But some salaried office worker? They don't need to be there 20hrs a week, let alone 50+. The only reason they have to be there so much is to play office politics, which takes way more time and effort than just doing the job they get paid to do.