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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Les H who wrote (100121)5/6/2001 7:13:14 PM
From: Don Lloyd  Read Replies (1) of 436258
 
Les -

Contrary to public perception, Nixon was a liberal. Wasn't he the clown who initiated EITC?

You have to be careful here as a form of the EITC is not inherently bad. The problems with the EITC are a combination of fraud and the fact that its phaseout combines with other program phaseouts to create effective 70% or so marginal tax rates for some low income families. Also it should not be combined with legal minimum wages and a progressive tax rate system. I am guessing that Milton Friedman at least had something favorable to say about it.

Regards, Don
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