Earned Income Credit

Discussion in 'Politics' started by Salty, Dec 9, 2010.

  1. Salty

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  2. Gina B

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    I don't know what it is, but quite honestly? I LIKE IT! Unlike what they're saying in the comments on that link, I get no welfare in any form, I work, and the EIC returns part of the ridiculous amount of income they take out of the part of my income that's from self-employment, and then it adds some more. I'd rather have it and stick it back in the economy in places owned locally, farmer's markets, and maintaining our vehicle so I can keep working.

    If it's cash and you're giving it to me, I'm gonna have a really tough time saying it is wrong. I will find ways to justify it.

    So asking people who get it is probably kinda pointless and don't know it that was your intention, but I answered anyhow!

    That'll be $19.99 please. :tongue3:
     
  3. Salty

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  4. carpro

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    It's welfare, pure and simple.

    Something for nothing.
     
  5. Gina B

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  6. Gina B

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    Have you ever received this or any form of welfare?

    What I find rather amusing is I have family that raised their kids on food stamps, government surplus foods, and took government grants for the poor to attend college.

    Now they have a bumper sticker on their car that says something like "Make sure you go to work today: people on welfare depend on you."
    They're very critical of people getting "something for nothing."

    Doesn't really make sense to ride the pony until you can buy the car and then shoot the pony.

    You're not one of "those" are you? I can understand people never having been there and hating the welfare system.
    I don't get those that have used it and later rant against it. Especially since they're always more vocal than those that haven't used it. I think cuz they feel a little too proud of their accomplishments and forget they only got there by riding the pony...
     
  7. Steven2006

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    Some people definitely need assistance, and while there is a tremendous amount of abuse within welfare, that is another discussion entirely.

    However I am against people getting income tax refunds for money they didn't even pay in. It is not just or fair doing so. It unfairly skews the entire tax system and is not logical to do so. If someone needs assistance, fine, have them apply and make sure they qualify.
     
    #7 Steven2006, Dec 9, 2010
    Last edited by a moderator: Dec 9, 2010
  8. Robert Snow

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    Good posting!

    I wonder if Carpro wil ever answer you question?
     
  9. carpro

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    Nope.

    But that's not the point, nor the problem.

    It's welfare and it has no business as part of the tax code. Puts it off budget and it doesn't have to go through the legislative process. Therefore hardly anyone knows the cost and it never makes the news and never has to be funded.

    For your information, the cost is $70 Billion a year. $50 Billion of that goes to people who pay no inciome tax and $8-10 Billion of that goes to fraudulent recipients.
     
  10. carpro

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    Correction:

    The $70 billion figure includes the "child tax credit". The rest is still accurate. The $50 billion figure is EIT only.
     
  11. blackbird

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    If you believe its welfare and something for nothing----then DON'T figure it into your tax return----plain and simple

    But I'm gonna get MY "Something for nothing" from Uncle Sammy

    I am a Southern Baptist pastor---thus I pay self employment taxes with NO help from my church----my church does NOT pay 7.5% tax on me----unlike other forms of employment----I pay the full 15% self employment tax

    I also am owner of a landscape business------and pay yet ANOTHER 15% self employment tax on this business income

    Ask me if I'm gonna file a EIC on my kids----and I'll tell you---I'd be an idiot if I don't

    I work hard and pay taxes----all of um----to the very last penny!!!
     
  12. carpro

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    If you qualify for it, you should file for it and get it.

    That doesn't change the fact that it's welfare.

    Your self employment tax has less than nothing to do with the subject.
     
  13. billwald

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    Every working person pays a 14% flat, capped income tax on his gross wages called "withholding taxes" which comes out of his total wage package. This tax goes directly into the treasury and is spent for current budget needs. Approx. half of this income tax is paid directly by the employer and is deductible as a business expense.
     
  14. Gina B

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    Blackbird, how do you only pay 15%? When all is said and done, mine is around 40%.

    Carpro and others who are against the earned income credit, here is another way of looking at it:

    I work, thus I am eligible.
    At times I get frustrated and think that going back on welfare (yes, I've been on it) would be so much easier!

    And it would be.

    So why don't I?

    1. I don't want to. My sense of pride makes me want to make it on my own. I came from a welfare family and when my husband left, I didn't want to raise my kids that way but for a while I had no choice. I wanted to teach them that self-sufficiency is best.

    2. There's that little break I know I'm gonna get at tax time. I have LOT of ways of looking at it.
    It gives me something to look forward to.
    It gives me the incentive to keep working even though what I really enjoy doing is taxed out the ying-yang. The earned income credit helps make up for the hopeless feeling I get whenever I consider that yeah, maybe I wrote an article and got paid $150 for it, but in reality I'm only getting about $90 for it.

    3. If the government keeps it, that's a little more for them to throw towards abortion and other things I disagree with. If it's in my hands, a good portion of it is spent locally in my little area of this country.

    I just don't get why it makes so many people upset. There's so many horrible things our government chooses to do with tax revenue.
    Giving some back to the working class is probably one of their better ideas.

    On a sad yet a bit humorous note, I had a student today talk about how mad she was about school funding. They received money for improvements to the school and a paraphrase of what she said is as follows: "I hoped we'd get rid of these ancient, filthy desks with gum on them from the 1970's and get some lockers that aren't nasty with cockroaches in them. Instead they built a nursery for kids who shouldn't be out ******** in the first place, and now on my lunch break I can't even walk down there to the commons without passing it and they yellin at me SHHHH!!!! It's naptime!"

    The school is short on books. Students get bonus points in class if they bring the teacher supplies she needs like copy paper to print out their reports and worksheets. They cut teacher's jobs because of budget cuts.

    But hey, the kids out there doing the horizontal mambo have no worries...they have a nursery and caregivers provided to help them deal with the consequences of their actions while the ones who do the right thing go without the basic tools of education.

    So you know, I gotta say that sometimes something may not be the most wonderful thing for everyone. But a bit of a bonus for people who choose to work instead of leech off the workers?

    Not a problem.

    And when I can no longer receive it, GOOD! I hope I can make that happen.

    In the meantime, the criticism and complaints of "something for nothing" simply because you haven't had the same struggles or you've overcome those same struggles faster than I have are rather silly and I'll even venture to call them a tad arrogant, though by your own admission you haven't been desperately poor (as in needing to seek help from others) so it's understandable that you have a tough time appreciating the difference between someone who is working and getting a bit extra once a year for a few year from earned income credit and someone not working by their own choice, especially if they're getting welfare too.
     
  15. carpro

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    He's talking anout self employment tax at 15%. That' the self employed contribution for social security. It's double the rate everyone else pays because they have no employer to contribute half of it for them. If they didn't pay both portions , they should only get half of SS benefit. Even at that, their self employment tax is on the net profit of the business. If they can show a loss, they pay no self employment tax.

    About EIT, I repeat:

    But that's not the point, nor the problem.

     
    #15 carpro, Dec 10, 2010
    Last edited by a moderator: Dec 10, 2010
  16. Salty

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    Back to EIC - the problem is when you get back more than you paid. for example - you make $1,000 your taxes are $200. Your EIC is $300 - that pays your taxes and they send you a check for $100 you didnt pay.

    Now subsitute home mortage interest. Under the same amounts - your $200 taxes would be paid for by the tax credit - but since that credit is capped, you do not get "free money"

    I can deal with the EIC as long as it does not exceed the taxes you owe.
     
  17. freeatlast

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    More corruption from the government and this has been going on for many years. Everyone should have to pay a flat tax with no returns or deductibles. I am sick and tired of being taxed and part of it given to some Godless individual or liberal who raises Godless or liberal children.
     
  18. Salty

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    Would it be okay, if it is a Conservative who raises a Godless child?
     
  19. billwald

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    For all WE know, God has "elected" everyone who receives the EIC.
     
  20. freeatlast

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    No it would not.
     

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