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An Evaluation of the Working Income Tax Benefit

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  • William Scarth
  • Lei Tang
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    Abstract

    The federal government has implemented an earned income tax credit what it has called the Working Income Tax Benefit in the 2007 Budget. Edmund Phelps has argued that the earned income tax credit in the United States should be replaced with an employment subsidy. This paper assesses the importance of Phelps' concern, and related issues, for Canada. This debate is important for two reasons: the plight of those blocked by the "welfare wall" is dire, and the entire community has an interest in lower structural unemployment in an environment that involves an aging population and an accompanying labour shortage.

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    File URL: http://socserv.mcmaster.ca/sedap/p/sedap220.pdf
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    Bibliographic Info

    Paper provided by McMaster University in its series Social and Economic Dimensions of an Aging Population Research Papers with number 220.

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    Length: 36 pages
    Date of creation: Aug 2007
    Date of revision:
    Handle: RePEc:mcm:sedapp:220

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    Keywords: earned income tax credit; employment subsidy; open economy;

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    1. David Neumark & William Wascher, 2007. "Does a Higher Minimum Wage Enhance the Effectiveness of The Earned Income Tax Credit?," NBER Working Papers 12915, National Bureau of Economic Research, Inc.
    2. Kremer, Michael, 1993. "The O-Ring Theory of Economic Development," The Quarterly Journal of Economics, MIT Press, vol. 108(3), pages 551-75, August.
    3. Nada Eissa & Austin Nichols, 2005. "Tax-Transfer Policy and Labor-Market Outcomes," American Economic Review, American Economic Association, vol. 95(2), pages 88-93, May.
    4. N. Gregory Mankiw & David Romer & David N. Weil, 1990. "A Contribution to the Empirics of Economic Growth," NBER Working Papers 3541, National Bureau of Economic Research, Inc.
    5. Neumark, David & Wascher, William, 2007. "Minimum Wages, the Earned Income Tax Credit, and Employment: Evidence from the Post-Welfare Reform Era," IZA Discussion Papers 2610, Institute for the Study of Labor (IZA).
    6. Thomas Moutos & William Scarth, 2003. "Some Macroeconomic Consequences of Basic Income and Employment Subsidies," CESifo Working Paper Series 916, CESifo Group Munich.
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