GOP Payback to White Working Class That Voted for Them: Cut Earned Income Tax and Child Tax Credit

My solution was to become a corporation and enjoy the tax benefits of being in business.

If corporations are people...

Individuals can incorporate as well if they start a homebased business. Of course it requires a little paperwork and record keeping but it's well worth the effort.

www.ehow.com...



www.entrepreneur.com...

a reply to: Willtell

Bear with me as I do have some wires crossed.

We are not broke as it is only book keeping, but the rich have more money than any time in history? Isn't that just book keeping with nothing behind it as well?

If I spend $200 and I only have $130 I am beyond broke am I not? Broke should be zero balance we are generations beyond that now.

We are rapidly approaching the "war phase" of debt consolidation to my understanding of history. Somebody will have to pay the piper and the people in America will be left holding the bag.

originally posted by: coldkidc
a reply to: darkwingduck

Why should people even get a child tax credit? It sickens me. Both of my brothers have 3-4 kids, and they each get like 10 k for tax return. They don't pay that much in. Why should people who chose not to have as many kids get screwed? If you want kids, pay for them yourselves.

First off - nobody is getting "screwed" if your brothers are taking the child tax credit.
It's not like you have to pay more taxes because they're getting a $1,000/child tax credit against their tax bill.

You should stop whining about something that doesn't even concern you...it sounds like an orphan in the soup line complaining that the boy in front of him got more than he did.

Second - the child tax credit (different than the EIC) doesn't exceed tax liability.

There's no check for the amount over what is due to the IRS for that year unless their income level is low enough to qualify for the Earned income credit (which is the other credit they nixed & only affects low income families)

If your brothers are getting $10000 back every year then they are making damn good money and also having a very healthy amount withdrawn from their check...they're just getting their money back.

And just for the record both parties suck - they 2 party system is just a way to control the masses by giving us the illusion that we have a say in any of it.

Its not against their tax bill. They could have paid zero in and will get the entire credit in cash.

originally posted by: coldkidc
a reply to: Xeven

The child tax credit only gives back up to what you owe for that year...you don't get the unused portion.

They only time they'd get more back is if their income was low enough to qualify for the Earned income credit...

The income threshold is pretty low to qualify for the EIC so I'm confident in saying that the bankers are taking more out of people's pockets every year in inflation than what gets paid out on the EIC...

Dude you can twist it however you want in legal mumbo jumbo terms but fact is they are taking money I earned and giving it to others.

Dude you can twist it however you want in legal mumbo jumbo terms but fact is they are taking money I earned and giving it to others.

Maybe a few dollars. Much more is spent on the military, foreign aid and pork.

originally posted by: Willtell
These people are poor since even if they make 40 to 80 grand they still are two paychecks away from poverty

That is because we are a consumer nation. Its not how much you make it is how much you spend. If we went back to 1200ft houses and people ate good but basic foods etc the cost of living would not be that high, but we waste a lot. One needs to go live in some other countries to really see how to live within ones means.

originally posted by: Xeven
They could have paid zero in and will get the entire credit in cash.

A credit is just that...

When I was in the military and got tax free months for going to Iraq/Afghanistan my taxable income was like less than 20k and I would actually make profit from the child tax credit, though still didn't qualify for EIC.

originally posted by: darkwingduck
Why should people even get a child tax credit? It sickens me. Both of my brothers have 3-4 kids, and they each get like 10 k for tax return. They don't pay that much in. Why should people who chose not to have as many kids get screwed? If you want kids, pay for them yourselves.

maybe they could send all their income to a off-shore account, so they wouldn't show much income at all, and not have to pay taxes on it...oh yeah sorry...this is about all those poor people screwing the American public, not successful businessmen.

originally posted by: jimmyx
maybe they could send all their income to a off-shore account, so they wouldn't show much income at all, and not have to pay taxes on it...oh yeah sorry...this is about all those poor people screwing the American public, not successful businessmen.

You know that whole off-shore thing is pretty much a thing of the past. Today, it is much easier to catch them and the IRS really wants to, so people just do not do it anymore since they have close to 100% chance of getting caught. The few that can getaway with it are most likely so small a number that even if we are talking a few billion it is still a small amount in all of this.

a reply to: Xeven

Its not against their tax bill. They could have paid zero in and will get the entire credit in cash.

That is not a true statement - try looking it up man

Here's a link to get you started:
7 Requirements for the Child Tax Credit

I think some of you people that don't do their taxes don't understand that a refund is not getting you paid...REFUND means you are getting the money back that you already paid in (came out of your check)

Nobody is making "profit" off of this credit unless they were poor enough to qualify for the Earned Income Credit...to say different is simply ignorance.

originally posted by: coldkidc
a reply to: Xeven

Its not against their tax bill. They could have paid zero in and will get the entire credit in cash.

That is not a true statement - try looking it up man

I do not know...my tax owed to the government was about $1000 and so instead of paying $1000 I would get a check for $2000.

a reply to: Xtrozero

No - if you only owed $1000 you'd just get your money back - not $2000

If you had one kid & only paid in $750 - you'd only get your $750 back.

You need to make sure you understand the difference between the "refund amount" & the "tax due" amounts.

A refund amount is just the final number & doesn't reflect the actual amount of taxes you paid in.

It seems obvious but some people don't seem to understand that just because nothing is owed at filing it doesn't mean that nothing was owed or paid in that year.

a reply to: coldkidc

wrong answer, i use date a woman with two children, she would get her refund plus any where from $1100 to $1800 back that she never paid in filing with earn income credit and child tax credits. just where does that money come from, yours and my taxes.

a reply to: hounddoghowlie

Yes - the earned income credit - like I said earlier, If you qualify for the EIC you can get the full credit.

The earned income credit is separate from the child tax credit - they are not the same thing even though the EIC depends on the child tax credit qualifications to be meet as well as additional income qualifications.

a reply to: roadgravel
True. I just don't want the tax system itself used as a means of redistribution. If someone need welfare they should have to go sign up for welfare and then go cash it. Need to be some disincentive to spending other peoples money. It should be there if needed to survive but it should also make you feel like maybe you should go get a job rather than take a hand out.

a reply to: coldkidc

OK sure EIC is what I am most unhappy with. it is simply welfare in disguise.

Wow. While I knew the GOP would start their war against the poor, I didn't think they would start it so soon, and so blatantly. And how petty! Penalizing the poor because they are pissed off at Obama is tatamount to a kid throwing tantrums and biting the hand that feeds it, Nice. This reminds me when they shot down a Veterans aid package over similar tantrums.

Can't say I'm really shocked. Just a nice reminder to this working poor Veteran that no one has my back in D.C. Especially not those who claim to support me.

The American citizens need to realize that the real terrorists are the US Congress, not some people in a foreign land. They are doing more harm to our life then those we are fighting some 'war' against.

a reply to: Skadi_the_Evil_Elf

It's odd isn't it.

You, a working poor vet that sees this as an attack against themselves.

Me, as a broken poor vet seeing it as step in the right direction.

I'm not saying either of us are right or wrong, Sister. I'm just pondering how perception can be so different even from people standing so close

a reply to: Skadi_the_Evil_Elf

It's almost as if the GOP is trying to sabotage their chances in 2016.
If the Republicans are trying to paint themselves as working for the corporate elite and against the Americans just trying to get buy....it's working!