Posted on 12/19/2017 9:33:52 PM PST by Kaslin
Amazing...Depressing...Disgusting...WTF...
A deduction reduces your taxable income and, hence, your tax.
An ordinary tax credit reduces the amount of tax you owe, but not below zero. If you have a $1000 tax credit, and you owe $500, you pay nothing, but you don't get a refund.
A refundable tax credit subtracts from the tax you owe, period. If you have a $1000 refundable tax credit, and you owe $500, your tax is -$500 (i.e., the government pays you $500). And, of course, if you owe zip, then you get $1000.
And THESE are the people that want the TAXPAYERS to pay MORE!!
>Will someone please explain more clearly to me, how a person who pays in no taxes gets a refund?
It’s how welfare works now. That’s the deal the GOP made with Bill Clinton.
I bet half of that $89 billion goes to illegal aliens.
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That’s the place to start spending cuts.
Build the wall
Extreme vetting
End diversity lottery
End chain migration
You forgot anchor babies. :)
Lucky for us, they get more back with the new redistribution of wealth passed by the senate.. Much More. Isn’t it great! Not to worry though, the Upper Middle class is footing the bill. As usual. Spend Spend Spend. Obama couldn’t have done it better.
You forgot anchor babies. :)
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Good catch dave.
Still working on my first cup.
Sure you did. In one case your tax dollars worked very hard for Hillary’s presidential success......oh wait.
In another case your tax dollars imported the guy who blew his penis off in NYC trying to kill Americans .....oh wait.
In a third case the EPA poisoned an entire river system due to arrogance and incompetence.....oh wait.
Humm guess all’s you get for your tax dollars is the .gov working against you.
I have always been stuck in the ordinary tax credit.
One year I had a very, very tough year. I didn’t owe, but also didn’t qualify for a refund. My tax preparer that year said to me...you paid in, now go apply for financial assistance...go get your money back. She was serious and I think she was more angry than I was. She explained to me how she prepares taxes all day and it upsets her to watch people get thousands of dollars back...and they never paid a dime in taxes.
bfl
Ah, I see, I’m on by 4th already. :)
It is even worse than that. A certain number of those who are counted as “tax-paying” are government employees, as I was for most of my adult life. Our “taxes” were taken out of our pay before we received it, which is another way of saying that our “taxes” were paid by the same persons who paid our salaries, i.e. the non-government employee taxpayers. And we could apply for a refund of the taxes we did not pay when April 15 rolled around.
Nothing worse than the earned income credit.
All those tax places in the ghetto neighborhoods? Ever wonder why?
Every ghetto welfare king and queen knows why.
They go and lie about making $15000 cutting hair or bootleg taxi or what not (don’t worry for them, it can’t be considered in their welfare qualifications) and then they get a $6000 check from the Treasury for the lie.
Just their fee for services rendered: voting Democrat. :)
Yet Nary a whisper about the benefits of the across-the-board flat tax.
I was once one of those. We had four kids under 18, earned a modest single income, owned our house and itemized taxes.
Then I became gainfully unemployed. Between the child tax credit, mortgage deductions, charitable deductions for donations made before I lost the job, we ended up getting back $2000 or so more than we paid in.
Of course, that all changed the next year.
A couple of my now grown kids will be the same. They live on their own but both have very modest incomes. The personal deduction allows them to pay little to no federal taxes.
“You forgot anchor babies. :)”
[Wiki] [QUOTE] ...role of the child, who automatically qualifies as an American citizen under jus soli and the rights guaranteed in the 14th Amendment. The term is also often used in the context of the debate over illegal immigration to the United States to refer to children of illegal immigrants, but may be used for the child of any immigrant. A similar term, “passport baby”, has been used in Canada for children born through so-called “maternity” or “birth tourism”.[UNQUOTE]
Note: (unverified) Canada transports mother and baby back to country of origin after birth and subsequent aftercare.
Note: [WIKI] [QUOTE] Jus soli is associated with permissive citizenship rights. Most countries with unconditional jus soli laws tend to give birthright citizenship (and nationality) based on jus sanguinis rules as well, although these stipulations tend to be more restrictive than in countries that use jus sanguinis as the primary basis for nationality.[UNQUOTE]
Yes, but the article says they paid NO tax. I take that to mean they literally paid zero tax all year. Not a refund, but the government actually paid them, though they had paid in nothing. I’m under the impression that these people, were, for instance, on welfare, and paid in nothing all year, then filed and were paid tax credits:
“The IRS treated the last portion, the refundable portion, as a refund and paid it directly to taxpayers who had no tax against which to apply the credits, or whose credits exceeded income tax (and other income-related taxes),” the report said...That is to say it was “refunded” to “taxpayers” who paid no income taxes.”
I bet half of that $89 billion goes to illegal aliens.”””
OR MORE........
This is the main area of concern for me-—
Get the illegals out of this country & quit making those who are legal her pay for their ‘INCOME’ from the IRS.
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