Yes!!!!!! Yes!!!!!!! Yes!!!!!! Yes!!!!!!! Yes!!!!!!! E.J. Dionne Jr. WAPost Opinion Writer: This is where Murray comes in. Her bill would rid the tax code of certain disincentives to work. She notes that “the second earner in a household often pays a higher tax rate on his or her earnings than the first.” Her plan would right this by offering a 20percent deduction on the second earner’s income up to roughly $60,000 a year. (The benefit is focused on lower-income families, so it phases out at about $130,000 in joint annual income.) For a $25,000-a-year second earner in the 25 percent bracket, she says, this would mean $1,250 “back in their pocket for groceries, child care or retirement savings.” She’d also expand the earned-income tax credit for workers without children and lower the eligibility age from 25 to 21. The changes would increase their maximum benefit from $487 to about $1,400 a year. It’s hardly nirvana. But it’s real money, especially for someone earning around $15,000 a year. The proposal would cover its roughly $15billion annual cost by closing loopholes already identified as worthy of being scrapped by the GOP’s leading tax reformer, Rep. Dave Camp of Michigan. You can, of course, look at what Murray is doing as a way of calling the conservatives’ bluff on the matter of work. But that will be true only if the right allows its bluff to be called.
Posted on: Mon, 31 Mar 2014 13:43:47 +0000
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