Home » OPINION » Columns » As I See It
Poor families being clipped on tax refunds

As I See It

The federal earned income tax credit is supposed to help the working poor rise above the poverty level. It has probably done some good in that area; however, it has definitely helped several tax return preparer/loan companies soar to the heights of profitability.

Tax return preparers and lenders get about $1.75-billion in fees for lending money against anticipated earned income credit refunds, which total about $30 billion a year. This data is part of a report recently issued by the Brookings Institution and the Progressive Policy Institute based on their analysis of IRS data. The study found that nearly 7

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Joe D. Jones

Leave a Reply

Your email address will not be published. Required fields are marked *

*