Here.
For the current 5-year period 2012-2016 the Joint Committee on Taxation has previously estimated the annual cost of the Earned Income Tax Credit to be about $64 billion.
That's actually less costly than the food stamp program was in 2014: $74.2 billion.
Keeping the EITC means keeping what amounts to a welfare program, but one which rewards only those who work. The transfer payments to such individuals basically rebate the Social Security taxes they pay even though they generally make too little to pay much in the way of federal income taxes, if they pay any at all.
Trump's claim that his plan will be revenue neutral is already taking incoming because of things like this.
Of course we don't know what spending Trump plans to cut. He might go really big and call for shuttering some cabinet level departments entirely. The Department of Education, for example, costs $77.4 billion.
For the current 5-year period 2012-2016 the Joint Committee on Taxation has previously estimated the annual cost of the Earned Income Tax Credit to be about $64 billion.
That's actually less costly than the food stamp program was in 2014: $74.2 billion.
Keeping the EITC means keeping what amounts to a welfare program, but one which rewards only those who work. The transfer payments to such individuals basically rebate the Social Security taxes they pay even though they generally make too little to pay much in the way of federal income taxes, if they pay any at all.
Trump's claim that his plan will be revenue neutral is already taking incoming because of things like this.
Of course we don't know what spending Trump plans to cut. He might go really big and call for shuttering some cabinet level departments entirely. The Department of Education, for example, costs $77.4 billion.
