“Hard to cut much if you arent paying much.”
Yeh, it gets worse; the bottom 30% +\ - pays negative income taxes. It’s on a sliding scale, the very bottom could get back as much as a net $8,000 ~ $10,000 depending on number of dependents and amount of earned income credit.
” the bottom 30% +\ - pays negative income taxes. Its on a sliding scale, the very bottom could get back as much as a net $8,000 ~ $10,000 depending on number of dependents and amount of earned income credit.”
In an earlier generation, referred to as “welfare”, not a “tax refund”.
The left loves to make people think that the "rich" get a bigger refund from the government because the government likes them better. Correct terminology would help clarify.
Yeah, about 13-14 years ago when I was in the field in retail making about $28k/yr, a friend of mine making about $2k/yr less than I was got married in December of that year to a woman with 2 kids already and no income. They got the $1500 back he’d paid in fed taxes plus another like $7-8k with EITC and Child tax credits. Couldn’t believe it. At least he was smart and used it to pay all cash for a new Kia with 100k warranty rather than blow it on vacations or the like.