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`IF you work 40 hours a week and you have children in the home, you should not be in poverty."

That statement, made by President Clinton last week, ran as a theme through his presidential campaign. Now, as one way of helping to lift working families out of poverty or near-poverty, the president has proposed doubling the size of the earned income tax credit program to $25.4 billion within the next four years. Under this plan, every dollar a low-wage working parent earns up to a designated ceiling qualifies for a cut in taxes.

The tax credit is available to both married and single parents, even those who earn too little to owe federal income tax. About 1 in 3 …