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That's right folks, you can get a "refund" from the Federal Government even if you paid ZERO in Federal Taxes. Yes, you may qualify to get OVER 5 THOUSAND SMACKERS........and illegals are welcome too (some restrictions may apply.).
If we want to start cutting somewhere........well, this may be a logical place to start. I mean, no wonder a majority of the people are fine with taxing the horrific, evil, murderous rich. Wow, if you are getting gravy money like this, why would you want any change.
The Earned Income Tax Credit is the largest anti-poverty program in the United States. In 2007 more than 23 million households received $47 billion EITC payments. That dwarfs traditional welfare and food stamp spending combined.
It's difficult to qualify for those, as I've learned in recent years... even during the year I was mostly unemployed, only grossing (and paying taxes on) around $18,000 in CA, I did not qualify. Stupid me, for being responsible enough to not have children before I could afford them - d'oh.
A failing country.........financially and in a lot of other ways.
The combination of $trillion bond fraud, dependence on inflating home equity for economic development, oversized cars, oil dependence, constant market intervention, insolvent banks,
How do you feel about the deduction for mortgage interest paid on homesteaded property?
Well, In my world the EITC would be gone.
Flat tax is the way to go, 10% on income with NO write-offs for ANYTHING. Also, a 10% federal tax on everything except for non-prepared food. Too much BS in the tax system, influence peddling.
Shouldn't we consider asking from a Property Tax Law professional?
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. I mean, no wonder a majority of the people are fine with taxing the horrific, evil, murderous rich. Wow, if you are getting gravy money like this, why would you want any change.
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