Active Users:1099 Time:23/11/2024 01:22:40 AM
Back to Messageboard Post New Thread Search Help Stats Rules
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!"
Honorbound and honored to be Bonded to Mahtaliel Sedai
Last First in wotmania Chat
Slightly better than chocolate.

Love still can't be coerced.
Please Don't Eat the Newbies!

LoL. Be well, RAFOlk.
Reply to message
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 626 Views
The US will never work with socialism. Tom - 03/09/2009 04:40:21 AM 710 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 621 Views
It's advanced beyond what it was during the Revolution, I think. Joel - 03/09/2009 05:18:22 AM 661 Views
I would say it's grown with the government Brian - 03/09/2009 05:23:52 AM 648 Views
The key is that government shouldn't be heavily involved in personal lives. Joel - 03/09/2009 05:58:39 AM 668 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 586 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 747 Views
How much more can we really tax the wealthy?? Brian - 03/09/2009 04:41:14 AM 550 Views
Sadly, I think going back to the Clinton rates would help Tom - 03/09/2009 04:42:54 AM 534 Views
I'm ok with that....not super excited....but ok with it Brian - 03/09/2009 04:57:32 AM 543 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 666 Views
I'm in the lower-middle class tax bracket Brian - 03/09/2009 05:13:39 AM 590 Views
It's both, IMHO. Joel - 03/09/2009 05:29:41 AM 508 Views
I hear a lot of socialism coming from you..... trzaska2000 - 03/09/2009 05:19:08 AM 531 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 626 Views
You want detailed answers that require detailed data I don't have. Joel - 03/09/2009 06:06:55 AM 683 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 735 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 610 Views
Wow, that was one of the dumbest posts I have ever read..... trzaska2000 - 05/09/2009 05:42:45 AM 656 Views
So you're saying you DON'T proofread...? Joel - 05/09/2009 05:59:49 AM 772 Views
Paris Hilton? Kylia Skydancer - 04/09/2009 03:43:19 AM 609 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 700 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 785 Views
Less than 200 people were said to be US persons with Swiss accounts Сталин - 04/09/2009 04:16:24 AM 581 Views
And yet account for many millions of dollars; what does that say...? Joel - 04/09/2009 04:21:57 AM 617 Views
It's statistically insignificant and your hyperbole is reminiscent of screaming guests on CNN. Сталин - 04/09/2009 02:07:31 PM 518 Views
Well, look at this way: Joel - 04/09/2009 02:24:03 PM 659 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 609 Views
Okay, now you've just gone into Kool-aid drinking territory. Сталин - 05/09/2009 04:32:07 AM 720 Views
Communist THEORY is predicated on democratic participation at every level,totally absent in the USSR Joel - 05/09/2009 04:55:00 AM 838 Views
FINALLY!!! Kylia Skydancer - 07/09/2009 10:22:53 AM 634 Views
Ever heard of the 20-80 rule? Kylia Skydancer - 04/09/2009 04:28:54 AM 528 Views
Yes, and 90% of people are idiots. Сталин - 05/09/2009 02:41:35 AM 821 Views
Re: Yes, and 90% of people are idiots. Kylia Skydancer - 07/09/2009 10:09:30 AM 645 Views
Top earners? Please define.....what income and how much more? *NM* trzaska2000 - 03/09/2009 04:52:25 AM 429 Views
That would be open to definition, and should change with inflation. Joel - 03/09/2009 05:13:02 AM 779 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 741 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 669 Views
To what 40% do you refer? Joel - 03/09/2009 02:42:55 PM 525 Views
Dude, you are not making this easy..... trzaska2000 - 03/09/2009 03:38:01 PM 562 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 559 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 598 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 689 Views
To be fair Brian - 04/09/2009 04:50:20 AM 628 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 511 Views
The word I notice is "welfare" Kylia Skydancer - 04/09/2009 03:57:01 AM 627 Views
I wouldn't say that's what it means.... Brian - 04/09/2009 04:02:40 AM 630 Views
It's what welfare means to me... Kylia Skydancer - 04/09/2009 04:32:17 AM 634 Views
I was just talking about EIC as a form of welfare, not welfare welfare. *NM* Brian - 04/09/2009 04:45:13 AM 387 Views
yes, I get that now. *NM* Kylia Skydancer - 04/09/2009 05:02:53 AM 370 Views
*NM* Brian - 04/09/2009 05:14:01 AM 369 Views
Not necessarily Сталин - 04/09/2009 04:11:41 AM 558 Views
*shrugs* I have a soft heart. *NM* Kylia Skydancer - 04/09/2009 04:30:52 AM 380 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 561 Views
It is only for the WORKING poor, yes. Сталин - 04/09/2009 02:12:55 PM 550 Views
Mean it may be, but hardly illegal. Joel - 04/09/2009 02:31:16 PM 582 Views
How does the business benefit? Сталин - 04/09/2009 04:54:27 PM 567 Views
I didn't realize you meant literal withholding. Joel - 05/09/2009 03:03:32 AM 598 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 649 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 273 Views
If that scares you, check this out! trzaska2000 - 03/09/2009 04:48:56 AM 670 Views
Excellent post - the US government is not capable of running HC..... trzaska2000 - 03/09/2009 04:40:19 AM 505 Views
There is one thing the government did right Tom - 03/09/2009 04:41:36 AM 621 Views
The bailout, some of it, was necessary..... trzaska2000 - 03/09/2009 04:51:03 AM 615 Views
I still think it was too one sided. Joel - 03/09/2009 05:21:45 AM 645 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 596 Views
Contrary to popular belief, they are quite good at it nossy - 03/09/2009 09:05:15 PM 627 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 644 Views
The key phrase is "should be. " Joel - 03/09/2009 09:38:15 AM 780 Views
Re: The key phrase is "should be. " Lady Isa Avanderidhril - 03/09/2009 09:47:39 AM 625 Views
That sounds like a good stop gap to me. Joel - 03/09/2009 09:50:57 AM 680 Views
In fairness, most Europeans don't seem to realize what ObamaCare is. Legolas - 03/09/2009 02:34:01 PM 669 Views
What makes you think we do? nossy - 03/09/2009 09:11:06 PM 667 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 741 Views
It's hard not to be horrified with a government as wasteful as ours Brian - 03/09/2009 11:24:59 PM 525 Views
I can understand horror of governments. Rebekah - 03/09/2009 11:30:23 PM 514 Views
a bit, yes. *NM* Kylia Skydancer - 04/09/2009 04:08:37 AM 394 Views
For Americans who don't understand why Canadians like their public healthcare. Kylia Skydancer - 04/09/2009 04:23:11 AM 645 Views
Correction ßelals Girl - 04/09/2009 04:44:32 AM 628 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 579 Views
Re: In all honesty.... Kylia Skydancer - 04/09/2009 07:19:28 AM 673 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 786 Views
That's a nice theory. Joel - 04/09/2009 02:49:34 PM 647 Views
It's a fact ßelals Girl - 04/09/2009 05:21:59 PM 617 Views
Re: It's a fact Joel - 05/09/2009 03:18:39 AM 595 Views
Back to Messageboard Post New Thread Search Help Stats Rules

Reply to Message

Block Quote Paragraph Quote
Formatting
Smiley Codes