Why EITC and CTC are so important for Low- Income Families. POL201 Instructor James Ronan June 10, 2014 I’m going to discuss two of the policies that have helped million come out of poverty. One policy is EITC and the other is CTC. They are both tax codes that may families can use to help with raising their children and helping with getting out of poverty. “The test of our progress is not whether we add more to the abundance of those who have much; it is whether we provide enough for those who have too little.” (President Franklin Delano Roosevelt) What great words from someone who understood what the American economy would be like in the future.
However new right theorists favour this sector as it saves moms for the state as they are hostile to state expenditure. The voluntary sector consists of organisations, usually charities which provide welfare and are set up to deal with social problems such as old age, poverty, homelessness or child abuse. Advantages of the voluntary sector are that it employs trained staff as well as volunteers, it is professionally organised, it reduces dependence on state funding as the sector's income does not come primarily from the state. One problem with the voluntary sector is that it's funding is not always guaranteed so it cannot always provide continuity of service. Market liberals support this type of provision because it reduces reliance on state funding and encourages individual responsibility and community
He points out that as the nation progresses through time the liberty of the people decreases. His primary example is the social security acts. He notes that the concept of social security, insuring that you will have money when you are retired, was an upfront lie. It is a lie because the money taken out of your weekly paycheck for social security is not going to an account for you and your retirement. In addition to making it clear that social security is a lie but he also emphasizes that it is also a failing system.
Social Security was developed to help the elderly, but considering the economical and governmental changes, it may not be a dependable source of retirement income. According to the Social Security Administration’s Website, the economic conditions and an increased concern for the well being of the elderly population were the determining factors in enacting the Social Security Administration. The Great Depression of the 1930s triggered the Social Security Act, before this time many elderly people either lived in poverty or depended on the support of their families to survive. The Social Security Act was signed by Franklin D. Roosevelt in 1935, it was designed to be paid out of a large reserve to people who were too old to work, disabled, unemployed, and to assist children who up until this time, had no financial assistance. In 1939 the Program added benefits for the spouse and minor children of retired workers.
Welfare, a controversial topic in the United States, is defined as “a governmental agency that provides funds and aid to people in need, especially those unable to work.” (dictionary.com) It was first introduced in the United States after the Great Depression of the 1930s “to ensure that the health and hope of the country’s people would not be crushed by an impersonal economic system” (welfare is the best way….CITE) While some think welfare is abused, when used correctly it is a very necessary tool in the United States. It prevents the cost of living from raising, provides funds for families with low income, and is only provided after several qualifications have been met. At any given time, anywhere from four to eleven percent of the United States population is unemployed. Only a small portion--averaging four percent of the population--of these unemployed citizens receive welfare. These numbers are less than half the number of families receiving welfare before it was ever reformed.
She stated that Social Security has been a “pay-as-you-go” system. In other words, “workers produced output,” (money) “the government took a portion (by the payroll tax), and immediately gave it to the current retirees (in the form of Social Security benefits checks).” She also says, “Contrary to popular belief, the Social Security Administration did not “save” the worker’s income for his retirement” (Article 2). She talks about how the ratio of how many working citizens to retirees has gone down and wonders why exactly? The answer is simply that people in the baby boom generation are having fewer children in recent years. With her proposed solution to the problem above she also introduces some ways to help with the main issue of Social Security.
The term “Universal Healthcare” refers to equal health coverage for all residents of a nation “funded by the government under [a] single-payer system” (Cummings). The United States currently does not utilize universal healthcare; its health insurance is provided mainly through employers and by private companies. This consumer-driven system is harmful to the residents of the United States who are unemployed and cannot afford expensive private insurance. It also facilitates the need for welfare and, even then, those on public assistance receive a lower quality of care. Universal Healthcare would lower the mortality rate in the United States by solving the problem of the uninsured and the underinsured, as well as halt rising healthcare costs in the U.S.
Furthermore, the tax laws tend to favor those who are married. 1) Your spouse may be a tax shelter Off course you won't seek out a partner specifically because he or she has a business that’s losing money. However, it's worth noting that the negative numbers of one person in a marriage can help both spouses. The spouse who is losing money may not take advantage of some deductions; including those dealing with the house, but the spouse who is making money may use the loss as a tax write-off. This is also true of high medical expenses.
Foreign product taxes, or tariffs, were initially imposed to help in the growth of our country by keeping infant industries alive, as well as to bring in revenue for the United States federal government in its early days. But, as time has gone on, people have started to question whether these protective measures are actually helping or hurting us. And after much research, I can definitely assure you that tariffs are detrimental to our country’s well-being. By having these taxes on foreign products, people are naturally going to turn away and opt for something cheaper. So when these domestic companies are getting a steady flow of customers and income, they no longer have any need or incentive for improving the quality of their products.
Value of life When people die, should the government be the ones to judge on one’s financial value? Rich or poor, income, or level of education all depends on how the government puts the price tag on us. People and societies throughout the ages have been trying to answer the problem of putting the value of life into terms of dollar bills. Today people believe that the families of the dead should be compensated for their loss. No matter what you are or how you struggle in life economically.