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lectur3-page18 - from the federal budget in 2005...

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Here are some more public assistance and related programs. The Earned Income Tax Credit is a program designed to encourage people with low incomes to work rather than be totally dependent upon public assistance. This incentive is created by decreasing their federal income tax liability. If an individual or family makes below a certain income, their federal income tax liability is reduced by a tax credit. The lower their income, the higher the tax credit. The higher their income, the lower the credit to a point that the credit reaches zero. This program required $34.6 billion
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Unformatted text preview: from the federal budget in 2005 representing 1 40% of the total budget Cut it? from the federal budget in 2005 representing 1.40% of the total budget. Cut it? Legal services provided to low income individuals and daycare assistance provided to working, low income families totals .627 billion. Cut it? Veterans assistance was $3.1 billion in 1999. Cut it? Housing assistance to low income families was $22.7 billion. Cut it? The programs listed here total $52.03 billion representing a little more than 3% of the total federal budget. 18...
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This note was uploaded on 12/29/2011 for the course ECO 210 taught by Professor Malls during the Fall '10 term at SUNY Stony Brook.

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