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It's a credit for people who file a return on income that's been taxed. Joel Send a noteboard - 04/09/2009 04:19:57 AM
As Brian explained, the EITC (its official name - the Earned Income Tax Credit) actually pays people who did not pay taxes. It's not a refund; it's an additional source of welfare. By expanding that program we shrink the tax base. Obama wants to expand that program.

You don't get it unless you work, and if you work you have money deducted for income tax itself, in addition to Medicare and Social Security. The EIC or EITC (the former is the only way I've ever encountered the acronym) is only available if you file a return on your taxed income; a lot of those who qualify it don't earn enough to be required to do that. So, clearly, we should make them pay more so that Bill Gates can pay less, right?

I'm continually amazed by how arguments "taxes are too high!" devolve into "MY taxes are too high and we should fix that by raising taxes on people without money!"
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For Europeans who don't understand why Americans are against ObamaCare Tom - 03/09/2009 04:24:35 AM 1325 Views
I'd be happy to tax top "earners" more and suffer Europes economic "collapse. " Joel - 03/09/2009 04:30:31 AM 770 Views
The US will never work with socialism. Tom - 03/09/2009 04:40:21 AM 839 Views
Re: The US will never work with socialism. Joel - 03/09/2009 04:58:47 AM 837 Views
I don't think the mistrust of the government is really all that overblown Brian - 03/09/2009 05:04:34 AM 752 Views
It's advanced beyond what it was during the Revolution, I think. Joel - 03/09/2009 05:18:22 AM 795 Views
I would say it's grown with the government Brian - 03/09/2009 05:23:52 AM 777 Views
The key is that government shouldn't be heavily involved in personal lives. Joel - 03/09/2009 05:58:39 AM 808 Views
Re: I don't think the mistrust of the government is really all that overblown Kylia Skydancer - 04/09/2009 03:30:23 AM 724 Views
If I lived in France I wouldn't trust the Government either. Brian - 04/09/2009 03:44:55 AM 787 Views
*laughs* the point is taken. *NM* Kylia Skydancer - 04/09/2009 04:24:07 AM 506 Views
Re: The US will never work with socialism. Kylia Skydancer - 04/09/2009 03:28:24 AM 879 Views
How much more can we really tax the wealthy?? Brian - 03/09/2009 04:41:14 AM 704 Views
Sadly, I think going back to the Clinton rates would help Tom - 03/09/2009 04:42:54 AM 661 Views
I'm ok with that....not super excited....but ok with it Brian - 03/09/2009 04:57:32 AM 681 Views
A lot; before Reagans "reforms" we already taxed them less than any other industrialized state did. Joel - 03/09/2009 05:06:00 AM 800 Views
I'm in the lower-middle class tax bracket Brian - 03/09/2009 05:13:39 AM 723 Views
It's both, IMHO. Joel - 03/09/2009 05:29:41 AM 655 Views
I hear a lot of socialism coming from you..... trzaska2000 - 03/09/2009 05:19:08 AM 659 Views
Re: I hear a lot of socialism coming from you..... Joel - 03/09/2009 05:40:32 AM 748 Views
Nice non-answer answer..... trzaska2000 - 03/09/2009 05:52:04 AM 755 Views
You want detailed answers that require detailed data I don't have. Joel - 03/09/2009 06:06:55 AM 811 Views
Here are some facts and analyses..... trzaska2000 - 03/09/2009 02:40:22 PM 882 Views
The Heritage Foundation, huh? Joel - 03/09/2009 03:01:17 PM 887 Views
The non-working wealthy? Please quantify..... trzaska2000 - 03/09/2009 03:31:58 PM 838 Views
So you accept the CBOs assessment the House healthcare bill will be $1 trillion over the next decade Joel - 04/09/2009 03:02:13 AM 748 Views
Wow, that was one of the dumbest posts I have ever read..... trzaska2000 - 05/09/2009 05:42:45 AM 786 Views
So you're saying you DON'T proofread...? Joel - 05/09/2009 05:59:49 AM 905 Views
Paris Hilton? Kylia Skydancer - 04/09/2009 03:43:19 AM 746 Views
You're so full of shit on this issue I don't know where to begin. Tom - 04/09/2009 03:15:55 AM 848 Views
Re: You're so full of shit on this issue I don't know where to begin. Joel - 04/09/2009 03:59:21 AM 937 Views
Less than 200 people were said to be US persons with Swiss accounts Сталин - 04/09/2009 04:16:24 AM 735 Views
And yet account for many millions of dollars; what does that say...? Joel - 04/09/2009 04:21:57 AM 731 Views
It's statistically insignificant and your hyperbole is reminiscent of screaming guests on CNN. Сталин - 04/09/2009 02:07:31 PM 668 Views
Well, look at this way: Joel - 04/09/2009 02:24:03 PM 795 Views
That's not a solution. Сталин - 05/09/2009 02:39:12 AM 804 Views
The Soviets weren't socialist, or even communist, so it's a false comparison. Joel - 05/09/2009 03:09:06 AM 743 Views
Okay, now you've just gone into Kool-aid drinking territory. Сталин - 05/09/2009 04:32:07 AM 866 Views
Communist THEORY is predicated on democratic participation at every level,totally absent in the USSR Joel - 05/09/2009 04:55:00 AM 980 Views
FINALLY!!! Kylia Skydancer - 07/09/2009 10:22:53 AM 772 Views
Ever heard of the 20-80 rule? Kylia Skydancer - 04/09/2009 04:28:54 AM 657 Views
Yes, and 90% of people are idiots. Сталин - 05/09/2009 02:41:35 AM 975 Views
Re: Yes, and 90% of people are idiots. Kylia Skydancer - 07/09/2009 10:09:30 AM 778 Views
Top earners? Please define.....what income and how much more? *NM* trzaska2000 - 03/09/2009 04:52:25 AM 506 Views
That would be open to definition, and should change with inflation. Joel - 03/09/2009 05:13:02 AM 911 Views
What is your justification for taking over 50% of anyone's income? trzaska2000 - 03/09/2009 05:28:22 AM 865 Views
That's a good example of why I say the rate has to be set to cost of living. Joel - 03/09/2009 05:50:16 AM 889 Views
Still no comment on the fact that 40% of Americans don't pay any income taxes? trzaska2000 - 03/09/2009 02:32:12 PM 796 Views
To what 40% do you refer? Joel - 03/09/2009 02:42:55 PM 657 Views
Dude, you are not making this easy..... trzaska2000 - 03/09/2009 03:38:01 PM 695 Views
No one "gets money from the IRS. " Joel - 04/09/2009 02:55:02 AM 702 Views
Actually with EIC you can get money back that you never paid in. Brian - 04/09/2009 02:56:43 AM 696 Views
It MIGHT be possible with the EIC, but in practice few people get more than they paid. Joel - 04/09/2009 03:43:36 AM 749 Views
I don't know, I've known plenty of people that have gotten more back than they paid in Brian - 04/09/2009 03:46:29 AM 822 Views
A neat trick then. Joel - 04/09/2009 04:09:58 AM 824 Views
To be fair Brian - 04/09/2009 04:50:20 AM 760 Views
Ah, gotcha. Joel - 04/09/2009 04:53:58 AM 772 Views
Yet another example of your ignorance on tax policy. Tom - 04/09/2009 03:19:39 AM 651 Views
The word I notice is "welfare" Kylia Skydancer - 04/09/2009 03:57:01 AM 776 Views
I wouldn't say that's what it means.... Brian - 04/09/2009 04:02:40 AM 763 Views
It's what welfare means to me... Kylia Skydancer - 04/09/2009 04:32:17 AM 771 Views
I was just talking about EIC as a form of welfare, not welfare welfare. *NM* Brian - 04/09/2009 04:45:13 AM 441 Views
yes, I get that now. *NM* Kylia Skydancer - 04/09/2009 05:02:53 AM 424 Views
*NM* Brian - 04/09/2009 05:14:01 AM 427 Views
Not necessarily Сталин - 04/09/2009 04:11:41 AM 715 Views
*shrugs* I have a soft heart. *NM* Kylia Skydancer - 04/09/2009 04:30:52 AM 431 Views
It's a credit for people who file a return on income that's been taxed. Joel - 04/09/2009 04:19:57 AM 702 Views
It is only for the WORKING poor, yes. Сталин - 04/09/2009 02:12:55 PM 690 Views
Mean it may be, but hardly illegal. Joel - 04/09/2009 02:31:16 PM 714 Views
How does the business benefit? Сталин - 04/09/2009 04:54:27 PM 716 Views
I didn't realize you meant literal withholding. Joel - 05/09/2009 03:03:32 AM 733 Views
That's a no-no, Joel AgentOrange - 03/09/2009 07:32:03 AM 698 Views
Europe impresses me for one simple reason: Joel - 03/09/2009 09:21:28 AM 753 Views
No real comments, just 100% agree with you....plus the $12 trillion is terrifying to me. *NM* Brian - 03/09/2009 04:33:39 AM 332 Views
If that scares you, check this out! trzaska2000 - 03/09/2009 04:48:56 AM 857 Views
Excellent post - the US government is not capable of running HC..... trzaska2000 - 03/09/2009 04:40:19 AM 643 Views
There is one thing the government did right Tom - 03/09/2009 04:41:36 AM 756 Views
The bailout, some of it, was necessary..... trzaska2000 - 03/09/2009 04:51:03 AM 756 Views
I still think it was too one sided. Joel - 03/09/2009 05:21:45 AM 786 Views
It depends on your level of cynicism nossy - 03/09/2009 05:38:53 AM 812 Views
when have they ever cut the fat? random thoughts - 03/09/2009 08:35:36 PM 739 Views
Contrary to popular belief, they are quite good at it nossy - 03/09/2009 09:05:15 PM 761 Views
Well there is only one catch *NM* random thoughts - 03/09/2009 10:56:00 PM 425 Views
This doesn't make sense to me. Tim - 03/09/2009 08:33:18 AM 751 Views
The key phrase is "should be. " Joel - 03/09/2009 09:38:15 AM 924 Views
Re: The key phrase is "should be. " Lady Isa Avanderidhril - 03/09/2009 09:47:39 AM 795 Views
That sounds like a good stop gap to me. Joel - 03/09/2009 09:50:57 AM 813 Views
In fairness, most Europeans don't seem to realize what ObamaCare is. Legolas - 03/09/2009 02:34:01 PM 789 Views
What makes you think we do? nossy - 03/09/2009 09:11:06 PM 798 Views
Oh, you don't either. I thought that went without saying. *NM* Legolas - 03/09/2009 09:25:54 PM 443 Views
As far as most people I know are concerned, opposition to ObamaCare isn't the issue. Rebekah - 03/09/2009 11:04:36 PM 883 Views
It's hard not to be horrified with a government as wasteful as ours Brian - 03/09/2009 11:24:59 PM 660 Views
I can understand horror of governments. Rebekah - 03/09/2009 11:30:23 PM 657 Views
a bit, yes. *NM* Kylia Skydancer - 04/09/2009 04:08:37 AM 449 Views
For Americans who don't understand why Canadians like their public healthcare. Kylia Skydancer - 04/09/2009 04:23:11 AM 780 Views
Correction ßelals Girl - 04/09/2009 04:44:32 AM 764 Views
Re: Correction Kylia Skydancer - 04/09/2009 05:05:11 AM 881 Views
In all honesty.... Brian - 04/09/2009 05:18:23 AM 716 Views
Re: In all honesty.... Kylia Skydancer - 04/09/2009 07:19:28 AM 794 Views
Re: Correction ßelals Girl - 04/09/2009 05:24:49 PM 723 Views
Re: Correction Kylia Skydancer - 07/09/2009 10:11:45 AM 917 Views
That's a nice theory. Joel - 04/09/2009 02:49:34 PM 791 Views
It's a fact ßelals Girl - 04/09/2009 05:21:59 PM 775 Views
Re: It's a fact Joel - 05/09/2009 03:18:39 AM 740 Views
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