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Tax return question - Is it fair?

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    #16
    Originally posted by Texastaxi View Post
    Why isn't it fair? Our gubment gives away money they don't have every day!



    I don't see how anyone can think it's right to get back more than you paid in.
    I know there are some kinks that need to be worked out, but I really wish we'd go to a flat tax or a consumption tax ... everyone pays their share that way.
    Twice I agree with you today, must be a record

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      #17
      Good lord, it almost makes you wonder if we give out more tax refunds then we bring in.

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        #18
        how is that possible?

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          #19
          I had to pay $48,000 last year I'm sure glad it went to good use

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            #20
            Some info about the EIC:

            Enacted in 1975, the initially modest EIC has been expanded by tax legislation on a number of occasions, including the widely-publicized Reagan Tax Reform Act of 1986, and was further expanded in 1990, 1993, and 2001, regardless of whether the act in general raised taxes (1990, 1993), lowered taxes (2001), or eliminated other deductions and credits (1986).
            In the 2009 American Recovery and Reinvestment Act, the EITC was temporarily expanded for two specific groups: those families with three or more children and married couples; this expansion was extended through December 2012 by H.R. 4853, the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. Effective for the 2010, 2011, 2012 and 2013 filing seasons, the EITC will support these taxpayers by:
            • Increasing benefits for larger families by creating a new category or “third tier” of the EITC for families with three or more children. In this tier, the credit phases in at 45 percent of income (up from 40 percent), effectively increasing the maximum credit for these families by almost $600.
            • Increasing marriage penalty relief by raising the income threshold at which the EITC begins to phase out for married couples to $5,000 above the amount for unmarried filers, thereby giving MFJ filers a longer plateau. The phase-out for married filing jointly is still not double that for single filers, and thus there still is a marriage penalty, although less than there used to be.

            Today, the EITC is one of the largest anti-poverty tools in the United States

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              #21
              Originally posted by keep View Post
              Twice I agree with you today, must be a record
              Great minds, Jim ... great minds!

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                #22
                Not sure anymore, it use to be under 10K you paid nothing. I asked tha tax man last year how come I'm not greeting back what I use to? He said well you make too much money. Well bull #%^* I've never heard of anybody making too much money. Ask any millionaire if they would like more money, I doubt any would turn it down. But I don't get if you are not responsible and have a bunch of kids you can't afford, you get paid!!!!!!!

                Still love this country but we do have issues.

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                  #23
                  Check this out....

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                    #24
                    Originally posted by BigTex.308 View Post
                    What!!!???? I had no idea you could get more back then you actually paid in. That is a load of BS!



                    Ike
                    You say that now, but if and when you have children I bet you use the tax credit! You woul done foolish not to.

                    And who ever said any taxes were fair?

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                      #25
                      Nothing new. Been going on for a while now. Yup, they will blow it in one day with new flat screen tv, iPhone, iPad, laptop or whatever. I guess maybe the guberment think its good because they put it back into the economy and stimulate it. But that's my thinking. They should instead to save it and have an emergency funds backed up so they don't have to rely on welfare system. Oh well. We voted those peeps in the office, this is what we get in return, the shaft that is.

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                        #26
                        Originally posted by Thundervee View Post
                        Check this out....
                        http://youtu.be/Exptf9--5nA
                        yep, same video that will make you throw up

                        [ame="http://www.youtube.com/watch?v=lg_6en7lbx0"]http://www.youtube.com/watch?v=lg_6en7lbx0[/ame]

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                          #27
                          With all the credits, it is possible. Sucks, but thousands of people will get back way more than they paid in. Gotta love the way they run our government.

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                            #28
                            Originally posted by Thundervee View Post
                            Check this out....
                            http://youtu.be/Exptf9--5nA
                            This makes my blood boil!!!

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                              #29
                              Wait till they are bragging next year about getting 100% free health care while you still have to pay for yours.

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                                #30
                                I believe it should all get put on their lone star card as a credit..... Or maybe a daycare credit.

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