Billionaire Buffett proposes fix for income inequality
Legendary investor Warren Buffett, the third richest person in the world, argues in a new interview that the best way to address income inequality is through the Earned Income Tax Credit.
The Earned Income Tax Credit is a refundable tax credit that goes to millions of low- to moderate-income workers, particularly parents, to supplement their earnings. One of the reasons Buffett favors the EITC is that it rewards work.The EITC, he argues, is also more effective than raising the minimum wage.
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