2.2 Mn People In The US Are Kept Out Of Poverty Due To The Tax SystemAugust 6, 2013 11:22 pm
Taxes are always tricky. The impact is even more trickier. We spotted this rather surprising statistic today, that the refundable tax credit system has had a very positive impact on poverty in the US overall: an estimated 2.1 million people in the US are kept out of poverty due to this tax system (Source)
We have written about this before: the solution to world poverty is in taxes. Look at this sad statistic: if the IRS could just somehow manage to collect taxes on under-reported income, it could help end world poverty 10 times over.