An insult to Reagan’s tax credits
Mitt Romney’s videotaped remark to wealthy supporters that 47 percent of Americans “believe they are entitled to healthcare, to food, to housing, to you-name it” and that “my job is not to worry about” people who won’t “take personal responsibility and care for their lives” was terrible just about any way you look at it. An obvious reason why fewer people are paying federal income tax is because so many are unemployed (not by choice). That will change when the economy recovers. But another big reason is that the income tax has been an important vehicle for the social policies of both parties -- including successful, bipartisan efforts to address the very problem of dependency that Romney is griping about in the video. The best example of this is the Earned Income Tax Credit.