An Evaluation of the Working Income Tax Benefit

William Scarth and Lei Tang

Social and Economic Dimensions of an Aging Population Research Papers from McMaster University

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.

Keywords: earned income tax credit; employment subsidy; open economy (search for similar items in EconPapers)
JEL-codes: E25 F41 I38 J38 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2007-08
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