The IRS Deductions Blog

Posts Tagged ‘tax deduction wiki’

Question: Was Reagan a socialist?

After all, it was he that expanded the Earned Income Tax Credit that gives poverty level workers a “rebate.”

“Enacted in 1975, the initially modest EIC has been expanded by tax legislation on a number of occasions, including the more widely-publicized Reagan EIC expansion of 1986. The EIC was further expanded in 1990, 1993, and 2001 regardless of whether the act in general raised taxes (1990, 1993), lowered taxes (2001), or eliminated other deductions and credits (1986). Today, the EITC is one of the largest anti-poverty tools in the United States (despite the fact that most income measures, including the poverty rate, do not account for the credit), and enjoys broad bipartisan support.”

http://en.wikipedia.org/wiki/Earned_income_tax_credit

I would REALLY appreciate it if a Republican would offer a thoughtful answer to this question. How is Reagan’s build-up of the EITC any different than what you’re saying Obama is trying to do.

PLEASE read the entire post before answering.

Answer: Don’t forget it was a Republican idea from the beginning. First proposed by Nixon, signed into law by Ford, and increased hugely by Reagan in 1986.

I swear that some Republicans wake up in a new world every single day. All it takes is somebody to create some straw man about somebody else’s policy position, and they pile on without asking themselves… is this true, and if not have Republicans actually done this thing?

Items on Amazon Right Now for Tax Deduction Wiki:

U-MV170 – Matador Records – Video Sampler ‘94 (Intro)