If you are poor w/3 children, the govt pays you $6k for filing your taxes

[JEDI]

http://en.wikipedia.org/wiki/Earned_income_tax_credit

For tax year 2013, the maximum EITC benefit for a single person or couple filing without qualifying children is $487.
The maximum EITC with one qualifying child is $3,250, with two children it is $5,372, and with three or more qualifying children it is $6,044


At first I thought the poor can work the system by working under the table and having $0 reported income.
then claim the $6k.

But apparently you cant:
Earned income is defined by the United States Internal Revenue Code as income received through personal effort, with the following as the main sources... welfare isn't one of the sources.

so for those that actually work (working poor $38k - 51k), this $6k probably helps immensely.


edit:
The IRS has estimated that between 21% and 25% of this cost ($11.6 to $13.6 billion) is due to EITC payments that were issued improperly, to recipients who did not qualify for the EITC benefit that they received.


HOW!?

 

[MagnusTheBrewer]

The point or opinion?

 

[zinfamous]

wow, working poor = $38k-51k?

please remove head from ass

 

[MongGrel]

The point or opinion?

Exactly.

I've been working all my life and guess I'm still in the working poor range, what ass did you pull those numbers out of.

If you're making more money than that you shouldn't be IMHO, poor trollage.

 

[JEDI]

The point or opinion?

no point or opinion.
I expect this is going to get moved to politics anyway, so might as well post it here instead of off topic.

but if not, pls move to off-topic

 

[JEDI]

Exactly.

I've been working all my life and guess I'm still in the working poor range, what ass did you pull those numbers out of.

if your not poor, then why is my tax $ going to you?!

edit:
mis-read what u wrote.
those #s are from the link.

since the EIC is suppose to help the poor, I equate those #s as working poor

 

[MagnusTheBrewer]

no point or opinion.
I expect this is going to get moved to politics anyway, so might as well post it here instead of off topic.

but if not, pls move to off-topic

The sky is blue unless you're in cold country.

 

[MongGrel]

if your not poor, then why is my tax $ going to you?!

I seriously doubt it is.

 

[Attic]

There is tax abuse at all levels, but the biggest abuse is at the high end not the low end.

 

[nehalem256]

so for those that actually work (working poor $38k - 51k), this $6k probably helps immensely.

Those making 38-51K aren't getting the full 6K. It gets phased out.

edit:
The IRS has estimated that between 21% and 25% of this cost ($11.6 to $13.6 billion) is due to EITC payments that were issued improperly, to recipients who did not qualify for the EITC benefit that they received.

But "welfare" fraud doesn't exist :/

 

[JEDIYoda]

please remove head from ass

or please remove multiple asses from head....

 

[OGOC]

Proposal: Pay for your own kids.

Shouldn't the all-wonderful government take kids away from parents who are incapable of supporting them? Having kids you can't support is child abuse in a way.

 

[Jhhnn]

What the usual ravers pointedly refuse to recognize is that the welfare state is the reaction to the failure of trickle down multi national capitalism to deliver on the social contract, to employ Americans at decent wages to create profits & wealth for the financial elite, the ownership class.

They prefer it this way, because their profits are much larger from not employing Americans & loaning money to the govt for welfare programs instead. It's a win-win for them.

They've been highly successful in recruiting idiots to blame the victims rather than their own arrogant & craven greed.

 

[rudder]

The best part of this is you do not even have to be a citizen and your kids don't even have to be in this country.

 

[nehalem256]

What the usual ravers pointedly refuse to recognize is that the welfare state is the reaction to the failure of trickle down multi national capitalism to deliver on the social contract, to employ Americans at decent wages to create profits & wealth for the financial elite, the ownership class.

They prefer it this way, because their profits are much larger from not employing Americans & loaning money to the govt for welfare programs instead. It's a win-win for them.

They've been highly successful in recruiting idiots to blame the victims rather than their own arrogant & craven greed.

Funny. Pretty sure that Lyndon Johnson launched the whole "War on Poverty", creating the welfare state, years before the whole trickle down thing.

But don't let a little thing like causality get in the way of your liberal outrage.

EDIT: Also pretty sure that it is not the fault of corporations that a single mom with 3 bastard kids cannot get a job supporting herself.

 

[Jhhnn]

The best part of this is you do not even have to be a citizen and your kids don't even have to be in this country.

Which applies to the tax deductions for wealthy resident aliens whose kids are in Swiss private schools, as well.

What it means is that American capitalists provide so few employment opportunities & such piss-poor wages that negative income taxes have become necessary to preserve the fabric of society.

Headsets molded by decades of right wing propaganda seem to have trouble recognizing that, unsurprisingly.

Cue ravings about ebil commies, leftists, soshulists, collectivists, libruhls & what ever other terms of denial pop out of that conditioning.

Or just go on about Freedumb! or similar claptrap. It's good to vent, and necessary to embrace denial.

 

[Jhhnn]

Funny. Pretty sure that Lyndon Johnson launched the whole "War on Poverty", creating the welfare state, years before the whole trickle down thing.

But don't let a little thing like causality get in the way of your liberal outrage.

EDIT: Also pretty sure that it is not the fault of corporations that a single mom with 3 bastard kids cannot get a job supporting herself.

Reference paragraph 3 of my post, above.

 

[nehalem256]

Which applies to the tax deductions for wealthy resident aliens whose kids are in Swiss private schools, as well.

What it means is that American capitalists provide so few employment opportunities & such piss-poor wages that negative income taxes have become necessary to preserve the fabric of society.

Headsets molded by decades of right wing propaganda seem to have trouble recognizing that, unsurprisingly.

Cue ravings about ebil commies, leftists, soshulists, collectivists, libruhls & what ever other terms of denial pop out of that conditioning.

Or just go on about Freedumb! or similar claptrap. It's good to vent, and necessary to embrace denial.

I think that with a 40%+ bastardom rate, directly contributing to poverty, that said fabric is already pretty well destroyed.

 

[Jhhnn]

I think that with a 40%+ bastardom rate, directly contributing to poverty, that said fabric is already pretty well destroyed.

Which means you're completely justified in wanting to make it worse, of course.

 

[cabri]

What the usual ravers pointedly refuse to recognize is that the welfare state is the reaction to the failure of trickle down multi national capitalism to deliver on the social contract, to employ Americans at decent wages to create profits & wealth for the financial elite, the ownership class.

They prefer it this way, because their profits are much larger from not employing Americans & loaning money to the govt for welfare programs instead. It's a win-win for them.

They've been highly successful in recruiting idiots to blame the victims rather than their own arrogant & craven greed.

What social contract?
When did the government accept responsibility for providing a job and roof for every person?

 

[CADsortaGUY]

"Net 0" should be the standard for Federal Income taxes. Meaning - you can't get back more than you paid in.

 

[Kadarin]

I don't have a problem with the government providing a little assistance to the working poor. I do, however, have a problem with a society that allows for multiple generations of people to live on welfare without contributing back.

 

[nehalem256]

Which means you're completely justified in wanting to make it worse, of course.

If you provide incentives for behavior that contributes to the destruction of the fabric of society how is that going to make things better?

 

[MrPickins]

What social contract?
When did the government accept responsibility for providing a job and roof for every person?

Not that I completely agree with him, but you misinterpreted:

failure of trickle down multi national capitalism to deliver on the social contract

The failure is with the system, not the government, in his argument.

 

[OverVolt]

I think this is incorrect. The tax credit is subtracted from your gross income lowering your tax liability. It is not free money.

EIC phases in slowly, has a medium-length plateau, and then phases out more slowly than it phased in. And since the credit phases out at 21% (more than one qualifying child) or 16% (one qualifying child), it is always preferable to have one more dollar of actual salary or wages (although technically, since the EIC table moves by fifty dollar increments, it's always preferable to have an extra fifty-dollar increment of salary or wages).