Reported 4 months ago
Berkshire Hathaway Inc. Chairman and CEO Warren Buffett asserts that the economic gap is not caused by the rich exploiting the poor but is a consequence of an advanced market-based economy. Buffett proposes expanding the Earned Income Tax Credit (EITC) as a solution to address income inequality, emphasizing that other approaches like increasing the minimum wage may have adverse effects. Despite adjustments to the EITC in 2024, Buffett's comprehensive vision for the program remains unfulfilled, while bipartisan support for the Child Tax Credit (CTC) aims to uplift children out of poverty.
Source: YAHOO