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It's a credit for people who file a return on income that's been taxed. Joel Send a noteboard - 04/09/2009 04:19:57 AM
As Brian explained, the EITC (its official name - the Earned Income Tax Credit) actually pays people who did not pay taxes. It's not a refund; it's an additional source of welfare. By expanding that program we shrink the tax base. Obama wants to expand that program.

You don't get it unless you work, and if you work you have money deducted for income tax itself, in addition to Medicare and Social Security. The EIC or EITC (the former is the only way I've ever encountered the acronym) is only available if you file a return on your taxed income; a lot of those who qualify it don't earn enough to be required to do that. So, clearly, we should make them pay more so that Bill Gates can pay less, right?

I'm continually amazed by how arguments "taxes are too high!" devolve into "MY taxes are too high and we should fix that by raising taxes on people without money!"
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For Europeans who don't understand why Americans are against ObamaCare Tom - 03/09/2009 04:24:35 AM 1151 Views
I'd be happy to tax top "earners" more and suffer Europes economic "collapse. " Joel - 03/09/2009 04:30:31 AM 623 Views
The US will never work with socialism. Tom - 03/09/2009 04:40:21 AM 709 Views
Re: The US will never work with socialism. Joel - 03/09/2009 04:58:47 AM 700 Views
I don't think the mistrust of the government is really all that overblown Brian - 03/09/2009 05:04:34 AM 619 Views
It's advanced beyond what it was during the Revolution, I think. Joel - 03/09/2009 05:18:22 AM 659 Views
I would say it's grown with the government Brian - 03/09/2009 05:23:52 AM 647 Views
The key is that government shouldn't be heavily involved in personal lives. Joel - 03/09/2009 05:58:39 AM 667 Views
Re: I don't think the mistrust of the government is really all that overblown Kylia Skydancer - 04/09/2009 03:30:23 AM 584 Views
If I lived in France I wouldn't trust the Government either. Brian - 04/09/2009 03:44:55 AM 637 Views
*laughs* the point is taken. *NM* Kylia Skydancer - 04/09/2009 04:24:07 AM 435 Views
Re: The US will never work with socialism. Kylia Skydancer - 04/09/2009 03:28:24 AM 744 Views
How much more can we really tax the wealthy?? Brian - 03/09/2009 04:41:14 AM 548 Views
Sadly, I think going back to the Clinton rates would help Tom - 03/09/2009 04:42:54 AM 533 Views
I'm ok with that....not super excited....but ok with it Brian - 03/09/2009 04:57:32 AM 542 Views
A lot; before Reagans "reforms" we already taxed them less than any other industrialized state did. Joel - 03/09/2009 05:06:00 AM 665 Views
I'm in the lower-middle class tax bracket Brian - 03/09/2009 05:13:39 AM 589 Views
It's both, IMHO. Joel - 03/09/2009 05:29:41 AM 507 Views
I hear a lot of socialism coming from you..... trzaska2000 - 03/09/2009 05:19:08 AM 530 Views
Re: I hear a lot of socialism coming from you..... Joel - 03/09/2009 05:40:32 AM 616 Views
Nice non-answer answer..... trzaska2000 - 03/09/2009 05:52:04 AM 625 Views
You want detailed answers that require detailed data I don't have. Joel - 03/09/2009 06:06:55 AM 681 Views
Here are some facts and analyses..... trzaska2000 - 03/09/2009 02:40:22 PM 704 Views
The Heritage Foundation, huh? Joel - 03/09/2009 03:01:17 PM 733 Views
The non-working wealthy? Please quantify..... trzaska2000 - 03/09/2009 03:31:58 PM 719 Views
So you accept the CBOs assessment the House healthcare bill will be $1 trillion over the next decade Joel - 04/09/2009 03:02:13 AM 609 Views
Wow, that was one of the dumbest posts I have ever read..... trzaska2000 - 05/09/2009 05:42:45 AM 654 Views
So you're saying you DON'T proofread...? Joel - 05/09/2009 05:59:49 AM 770 Views
Paris Hilton? Kylia Skydancer - 04/09/2009 03:43:19 AM 607 Views
You're so full of shit on this issue I don't know where to begin. Tom - 04/09/2009 03:15:55 AM 697 Views
Re: You're so full of shit on this issue I don't know where to begin. Joel - 04/09/2009 03:59:21 AM 783 Views
Less than 200 people were said to be US persons with Swiss accounts Сталин - 04/09/2009 04:16:24 AM 580 Views
And yet account for many millions of dollars; what does that say...? Joel - 04/09/2009 04:21:57 AM 616 Views
It's statistically insignificant and your hyperbole is reminiscent of screaming guests on CNN. Сталин - 04/09/2009 02:07:31 PM 517 Views
Well, look at this way: Joel - 04/09/2009 02:24:03 PM 658 Views
That's not a solution. Сталин - 05/09/2009 02:39:12 AM 669 Views
The Soviets weren't socialist, or even communist, so it's a false comparison. Joel - 05/09/2009 03:09:06 AM 607 Views
Okay, now you've just gone into Kool-aid drinking territory. Сталин - 05/09/2009 04:32:07 AM 718 Views
Communist THEORY is predicated on democratic participation at every level,totally absent in the USSR Joel - 05/09/2009 04:55:00 AM 837 Views
FINALLY!!! Kylia Skydancer - 07/09/2009 10:22:53 AM 632 Views
Ever heard of the 20-80 rule? Kylia Skydancer - 04/09/2009 04:28:54 AM 526 Views
Yes, and 90% of people are idiots. Сталин - 05/09/2009 02:41:35 AM 819 Views
Re: Yes, and 90% of people are idiots. Kylia Skydancer - 07/09/2009 10:09:30 AM 643 Views
Top earners? Please define.....what income and how much more? *NM* trzaska2000 - 03/09/2009 04:52:25 AM 428 Views
That would be open to definition, and should change with inflation. Joel - 03/09/2009 05:13:02 AM 778 Views
What is your justification for taking over 50% of anyone's income? trzaska2000 - 03/09/2009 05:28:22 AM 707 Views
That's a good example of why I say the rate has to be set to cost of living. Joel - 03/09/2009 05:50:16 AM 740 Views
Still no comment on the fact that 40% of Americans don't pay any income taxes? trzaska2000 - 03/09/2009 02:32:12 PM 668 Views
To what 40% do you refer? Joel - 03/09/2009 02:42:55 PM 524 Views
Dude, you are not making this easy..... trzaska2000 - 03/09/2009 03:38:01 PM 560 Views
No one "gets money from the IRS. " Joel - 04/09/2009 02:55:02 AM 574 Views
Actually with EIC you can get money back that you never paid in. Brian - 04/09/2009 02:56:43 AM 557 Views
It MIGHT be possible with the EIC, but in practice few people get more than they paid. Joel - 04/09/2009 03:43:36 AM 597 Views
I don't know, I've known plenty of people that have gotten more back than they paid in Brian - 04/09/2009 03:46:29 AM 689 Views
A neat trick then. Joel - 04/09/2009 04:09:58 AM 688 Views
To be fair Brian - 04/09/2009 04:50:20 AM 627 Views
Ah, gotcha. Joel - 04/09/2009 04:53:58 AM 632 Views
Yet another example of your ignorance on tax policy. Tom - 04/09/2009 03:19:39 AM 510 Views
The word I notice is "welfare" Kylia Skydancer - 04/09/2009 03:57:01 AM 626 Views
I wouldn't say that's what it means.... Brian - 04/09/2009 04:02:40 AM 629 Views
It's what welfare means to me... Kylia Skydancer - 04/09/2009 04:32:17 AM 633 Views
I was just talking about EIC as a form of welfare, not welfare welfare. *NM* Brian - 04/09/2009 04:45:13 AM 386 Views
yes, I get that now. *NM* Kylia Skydancer - 04/09/2009 05:02:53 AM 369 Views
*NM* Brian - 04/09/2009 05:14:01 AM 368 Views
Not necessarily Сталин - 04/09/2009 04:11:41 AM 557 Views
*shrugs* I have a soft heart. *NM* Kylia Skydancer - 04/09/2009 04:30:52 AM 379 Views
It's a credit for people who file a return on income that's been taxed. Joel - 04/09/2009 04:19:57 AM 559 Views
It is only for the WORKING poor, yes. Сталин - 04/09/2009 02:12:55 PM 549 Views
Mean it may be, but hardly illegal. Joel - 04/09/2009 02:31:16 PM 581 Views
How does the business benefit? Сталин - 04/09/2009 04:54:27 PM 566 Views
I didn't realize you meant literal withholding. Joel - 05/09/2009 03:03:32 AM 595 Views
That's a no-no, Joel AgentOrange - 03/09/2009 07:32:03 AM 567 Views
Europe impresses me for one simple reason: Joel - 03/09/2009 09:21:28 AM 647 Views
No real comments, just 100% agree with you....plus the $12 trillion is terrifying to me. *NM* Brian - 03/09/2009 04:33:39 AM 272 Views
If that scares you, check this out! trzaska2000 - 03/09/2009 04:48:56 AM 668 Views
Excellent post - the US government is not capable of running HC..... trzaska2000 - 03/09/2009 04:40:19 AM 504 Views
There is one thing the government did right Tom - 03/09/2009 04:41:36 AM 620 Views
The bailout, some of it, was necessary..... trzaska2000 - 03/09/2009 04:51:03 AM 614 Views
I still think it was too one sided. Joel - 03/09/2009 05:21:45 AM 644 Views
It depends on your level of cynicism nossy - 03/09/2009 05:38:53 AM 675 Views
when have they ever cut the fat? random thoughts - 03/09/2009 08:35:36 PM 595 Views
Contrary to popular belief, they are quite good at it nossy - 03/09/2009 09:05:15 PM 626 Views
Well there is only one catch *NM* random thoughts - 03/09/2009 10:56:00 PM 368 Views
This doesn't make sense to me. Tim - 03/09/2009 08:33:18 AM 643 Views
The key phrase is "should be. " Joel - 03/09/2009 09:38:15 AM 779 Views
Re: The key phrase is "should be. " Lady Isa Avanderidhril - 03/09/2009 09:47:39 AM 624 Views
That sounds like a good stop gap to me. Joel - 03/09/2009 09:50:57 AM 679 Views
In fairness, most Europeans don't seem to realize what ObamaCare is. Legolas - 03/09/2009 02:34:01 PM 667 Views
What makes you think we do? nossy - 03/09/2009 09:11:06 PM 665 Views
Oh, you don't either. I thought that went without saying. *NM* Legolas - 03/09/2009 09:25:54 PM 383 Views
As far as most people I know are concerned, opposition to ObamaCare isn't the issue. Rebekah - 03/09/2009 11:04:36 PM 740 Views
It's hard not to be horrified with a government as wasteful as ours Brian - 03/09/2009 11:24:59 PM 523 Views
I can understand horror of governments. Rebekah - 03/09/2009 11:30:23 PM 513 Views
a bit, yes. *NM* Kylia Skydancer - 04/09/2009 04:08:37 AM 393 Views
For Americans who don't understand why Canadians like their public healthcare. Kylia Skydancer - 04/09/2009 04:23:11 AM 644 Views
Correction ßelals Girl - 04/09/2009 04:44:32 AM 625 Views
Re: Correction Kylia Skydancer - 04/09/2009 05:05:11 AM 704 Views
In all honesty.... Brian - 04/09/2009 05:18:23 AM 577 Views
Re: In all honesty.... Kylia Skydancer - 04/09/2009 07:19:28 AM 670 Views
Re: Correction ßelals Girl - 04/09/2009 05:24:49 PM 594 Views
Re: Correction Kylia Skydancer - 07/09/2009 10:11:45 AM 785 Views
That's a nice theory. Joel - 04/09/2009 02:49:34 PM 646 Views
It's a fact ßelals Girl - 04/09/2009 05:21:59 PM 616 Views
Re: It's a fact Joel - 05/09/2009 03:18:39 AM 594 Views
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