Modern Age - Winter 2016 - 26

MODERN AGE

WINTER 2016

income tax. It is the payroll tax that directly affects the earnings
of all working Americans, thus determining the effective tax burdens on working- and middle-class families.
Owing to the realities of the tax system, only upper-income
households tend to be significantly burdened by high income
taxes. Therefore, any strategy of cutting income taxes plays into
the liberal charge that conservatives care only about the rich. A
better strategy is one focused on lessening the overall tax burden
on working- and middle-class households.
A tax proposal aimed directly at low-income households is the
expansion of the Earned Income Tax Credit. This is a much better
help to low-wage individuals than an increase in the minimum
wage. Whereas an increase in the minimum wage to $9 an hour
would result in a loss of approximately 100,000 jobs, according
to Congressional Budget Office estimates, an increase in the
EITC does not cause any burden on employers. Furthermore, not
all low-wage earners reside in low-income households, and an
increase in the minimum wage received by a child or spouse of a
higher-income individual will not do anything to alleviate poverty.
The Earned Income Tax Credit directly targets low-income
families rather than just low-wage workers. Moreover, since the
EITC operates through the tax code, it has the benefit of being
financed disproportionately by those with the highest incomes;
on the other hand, raising the minimum wage operates as a burden on those employers who hire low-wage labor. And normally
such employers are not wealthy individuals.

T

he lessons of the past, as well as the challenges of the future,
indicate that conservatives cannot just oppose the left's
polarizing use of the inequality issue, for to do so would reinforce
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Modern Age - Winter 2016

Table of Contents for the Digital Edition of Modern Age - Winter 2016

Contents
Modern Age - Winter 2016 - Cover1
Modern Age - Winter 2016 - Cover2
Modern Age - Winter 2016 - Contents
Modern Age - Winter 2016 - 2
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