Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Not totally true. The EITC gang get more back in refunds than they paid in taxes. But that is the Democrats fault, as EITC is their income redistribution scheme.
I'm not talking about the earned income tax credit. I'm talking about the refund
It's called a "refund" because that's exactly what it is. A refund of your money that you paid in. That's not free money
Quote:
Originally Posted by mmmjv
I forget the details, but the refund is nothing more than having paid in too much through the year by money being deducted from your paycheck and at tax time you get back that money which you shouldn't have paid in the first place. That's not free money from the taxpayers as the teabaggers would want you to believe.
In fact if you do get a refund there's a way you can just keep that money instead of giving it to the government and then getting it back later. I think you either put yourself down as a dependent, or don't put yourself down as a dependent. One way you get a nice check every April but the downside is that's nothing more then money you could have been collecting each week and it's like giving the government a free loan. The other way you don't get a nice check each April, or at least not as big as you could have gotten, but you have been getting more in your weekly paycheck
The EIC can give you more than you paid in.
Quote:
Originally Posted by bobtn
47 percent of Americans with income pay NO Income taxes.
That makes them freeloaders.
I don't know if I would say that, there are other ways to contribute besides income taxes.
I know many affluent seniors who pay less in taxes than this single guy making $30k. Are they freeloaders?
I'm not talking about the earned income tax credit. I'm talking about the refund
The EIC is paid out on the refund line of your 1040. You are just talking about paying more than you owe, that is not what we are talking about regarding not paying taxes.
"I know many affluent seniors who pay less in taxes than this single guy making $30k. Are they freeloaders?"
If one has never paid taxes, or in net over a lifetime, received more EITC funds than taxes paid, yes they are freeloaders. Truthfully, if we are going to have EITC it should be subjected to a maximum percentage of the last 5 years taxes paid by recipient as their max EITC benfit. Perhaps limit it to 1/3 of net 5 years Income taxes paid.
"Care to explain to us what the hell is so damn special about the "income" tax?"
simple, either everyone should pay it or NO ONE should pay it. What's so special about the EITC gang? I'd have no issue with NO Income tax, and a national consumption tax on every single item (including staples) at one flat rate.
"I know many affluent seniors who pay less in taxes than this single guy making $30k. Are they freeloaders?"
If one has never paid taxes, or in net over a lifetime, received more EITC funds than taxes paid, yes they are freeloaders. Truthfully, if we are going to have EITC it should be subjected to a maximum percentage of the last 5 years taxes paid by recipient as their max EITC benfit. Perhaps limit it to 1/3 of net 5 years Income taxes paid.
I just say eliminate tax on productivity and tax government granted and protected privilege.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
