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Show-Me Minute: Earned Income Tax Credit (EITC)
Show-Me Minute: Earned Income Tax Credit (EITC) We have talked before about why raising the minimum wage is a bad idea. Because it hurts the very people it’s supposed to help. Business owners in Seattle reacted to the city’s new $13 an hour minimum wage by cutting hours for low wage workers. Overall income for those workers dropped $100 million! So if raising the minimum wage isn’t a good idea, what is? How about expanding the earned income tax credit? That’s a refundable tax credit for low-to-moderate income workers. That means they would get to keep more of the money they earn to help make…
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