Government intervention program: Assistance for Low Income Families (Earned income Tax Credit( Including Child Tax Credit
- Analyze the arguments for government intervention as opposed to arguments for market-based solutions. Hint: See the information about market failures.
- Examine who has been helped and who has been hurt by the selected government intervention.
- Examine externalities and unintended consequences of such intervention. For example, consider whether the SNAP program and health coverage for low-income families result in higher future tax revenues because low-income children grow up healthier and produce higher incomes over their lifetimes.
- Analyze whether cost of the intervention you selected as a share of GDP or the number of participants is increasing,decreasing, or varies with the state of the economy, based on the cost trend(or number of participants) since its inception or since 2000.
- Analyze credible economists’ opinions on the success or failure of the intervention that you chose in achieving its objectives.
- Recommend whether the program should be continued as is, discontinued, or modified based on your conclusions. Defend your recommendation.
Cite at least 2 academically credible sources.
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