Episode 217: Who Is Paying Their Fair Share?
Words & Numbers
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The Earned Income Tax Credit Is a Negative Tax
The earned income tax credit is a way for the federal government to give back more than it takes in. The average household receives back from the government more than they pay in so that their effective tax rate is actually negative. When you account for these transfers, theeffective tax rate on the poorest 20% is over negative 100%.
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