Tuesday, March 1, 2016

Value Of Earned Income Tax Credit, Adjusted For Cost Of Living, In US Cities

From The Wall Street Journal, Real Time Economics, "The Earned Income Tax Credit Is Worth Far Less in San Francisco. Should We Fix That?" by Nick Timiraos:
The local cost of living, however, also dramatically influences the value of the [earned income tax] credit and the share of taxpayers that benefit. After adjusting for local living-cost differences, the maximum value of the EITC ranges from nearly $4,000 for a single taxpayer with one child in Memphis, Tenn., to nearly $2,100 in San Francisco and $1,500 in Manhattan.

Source: The Wall Street Journal, Real Time Economics

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