Posted on 03/16/2010 5:16:23 PM PDT by Kaslin
But, I thought the only people who got tax cuts were the rich?
No wonder there are so many willing to vote for politicians who turn around & pass taxpayer-funded congressionally-mandated crap these days.
I have a strong feeling this will all end very badly and soon.
Even worse, consider the abomination of Earned Income Credit. Millions of people pay NO taxes whatsoever, AND get thousands in “refunds.” For businesses that cater to the lower rungs of the socio-economic ladder, Tax Season, not Christmas, is the #1 season of the year. The recipients view this (accurately!) as free money, and they treat it as such. Great time of year for selling jewelry, car wheels, and other such “essentials.” And, if you’d like to be yet a little more infuriated on this fine day, rest assured that tons of these recipients have this system perfected to an art. They know exactly how much they need to earn during the year in order to qualify for the max “refund.” Many of them will stop work to avoid exceeding some number that might reduce their “refund.”
The EIC is the scam of all scams and I bet half the people of this country have no clue what a stupendous ripoff the whole thing is.
MM
It’s easy to zero out my self-employemnt taxes. Just following the law.
I just explained the EIC to my teenagers today. They thought I was wrong! Such a thing cannot exist! It doesn’t make sense!
happily, a lot of us might just be forced to into lower incomes because of bama.../sarcasm/
“I have a strong feeling this will all end very badly and soon.”
Yeah, I have the same feeling.
Between EIC and illegals and cash/bartering, we’re in for a ride of our lives. Especially when several of the groups start screaming when they have to pay some taxes.
Also, the SAD thing is that when you get EIC $$, it becomes a game how to make more money and still stay under the line to pay nothing so it becomes an ingrained behavior.
FIRST LAW OF SYSTEMS:
IF YOU BUILD IT, PEOPLE WILL GAME IT.
Proposed by Nixon, signed into law by Ford and increased under every administration since, with no exceptions.
The EIC is yesterday’s refundable tax credit. Here is the current list.
- Earned Income Credit
- First-time Homebuyer Credit
- Excess Social Security Credit
- Additional Child Tax Credit
- Health Coverage Tax Credit
- American Opportunity Credit – partly refundable
- Making Work Pay and Government Retiree Credits
You are right that the IRS has been turned into a welfare agency for the favored non taxpayers. Refundable tax credits provide a tremendous incentive for tax fraud as well as disincentive to produce. At a time of plunging tax revenues, refundable tax credits are a large part of the deficit explosion. I am sure that illegal aliens are receiving large amounts of tax welfare.
don't believe me?
Just ask Harry Reid.
http://www.youtube.com/watch?v=R7mRSI8yWwg
and THIS is the brainiac that is making laws WE have to live with.
I’m one of the ones that pays through the nose.
And I’m very bitter about it.
this how you create an oligarchy...with progressive taxation..the rest of the country sells the government to the top 10% of income taxpayers....
http://www.taxfoundation.org/news/show/22652.html
In such a country...your OPINION about YOUR healthcare only gets in the way of the Oligarchs’ plans....read, learn and act...now!!
A government who robs Peter and gives it to Paul will always have Paul’s support.
And an ever-growing population of Pauls...and fewer Peters.
This is not new. Recall the words of Alexander Tyler. Tyler lived in the 1700s so this self-destruction has been going on continually in history. Freedom is EXTREMELY FRAGIL, quickly and easily lost. We are losing it...
Per Tyler:
“A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves money from the public treasury. From that moment on the majority always votes for the candidates promising the most money from the public treasury, with the result that a democracy always collapses over loose fiscal policy followed by a dictatorship.
“The average age of the world’s great civilizations has been two hundred years. These nations have progressed through the following sequence:
“From bondage to spiritual faith
“From spiritual faith to great courage
“From courage to liberty
“From liberty to abundance
“From abundance to selfishness
“From selfishness to complacency
“From complacency to apathy
“From apathy to dependency
“From dependency back to bondage.
—Alexander Tyler
We are racing toward our doom. The enemy within is causing our downfall. Now power but ourselves can destroy our Republic and push us toward tyranically Marxism. That is precisely what is happening.
DemoRATs = hardcore socialists. Repubs = socialist lites....but eventually they end up where the RATs want to go.
It is way past time for a 2nd American Revolution. 100% of the demoRATs & about 80% of the Repub politicians, including the retired politicans of both parties need to frog marched into prison or to the gallows.
I think the bubble has got to burst very soon and when it does we will have Road Warriors style of anarchy, violence & warlords.
Foreboding words were never more true!
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