To: kevkrom; Final Authority
... which they get back as a tax credit (negative income tax) via the EITC. ... AND the Child Tax Credit, which is also a refundable tax credit (i.e. negative income tax).
Many (most?) people do not realize that the $1000/child Child Tax Credit turns many would-be taxpayers into modern-day welfare recipients because their income tax "refund" is not limited to just getting back their withholdings. Some of them get back thousands of dollars on top of what was withheld from their paychecks.
81 posted on
05/03/2005 9:12:36 AM PDT by
newgeezer
(Just my opinion, of course. Your mileage may vary.)
To: newgeezer
WTR reply 81, that is why I am against the idea of a prebate on paying sales tax. No one should get any of my money for doing nothing except existing.
At least with a child tax credit, ostensibly, the person receiving some money is raising a child which adds value to our society, as I said, ostensibly.
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