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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (432068)11/2/2008 2:27:40 PM
From: i-node  Read Replies (1) of 1573250
 
Besides, if that is socialism, then McCain is a socialist given his longstanding support of the EITC. Not to mention Reagan, who was a big proponent of it.

It is important to distinguish between the EITC and the EIC which Reagan supported. The EIC was a far less intrusive giveaway than the current EITC, amounting only to a few hundreds dollars a year for the most destitute, which most of us would not oppose. You had to be a head-of-household filer (which means you were supporting children) with almost no income.

Today, EITC is an annual transfer of income from the hard working to the unmotivated. A married couple making nearly 40K can qualify for a significant refund if they have a couple of kids. In some places (Arkansas, for example) a married couple making 40K can live a reasonable lifestyle. And the maximum credit -- that is, transfer of income, for a married couple can range to nearly $5,000.

McCain's support for the program is typical of welfare programs. They're politically untouchable. If anyone tried to cut EITC the Dems would be all over it.

Why can you not see that when you take money from the most productive members of society and give it to the least productive, it encourages people to become less productive? This really isn't a difficult concept to understand.
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