Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: SeekAndFind

Those that pay payroll but no income also get a check that they never paid in the form of EITC, which can be a few thousand, which offsets any payroll tax they paid.

“Earned Income Tax Credit” was a vote buyoff of the poor created in 1975. Today, the credit can be $3,094 for the first child. $3,094 offsets a lot of payroll tax.


38 posted on 09/18/2012 7:13:01 AM PDT by CodeToad (Be Prepared...They Are.)
[ Post Reply | Private Reply | To 1 | View Replies ]


To: CodeToad

A point that WILL be overlooked by the MSM.

the part that pays payroll tax but not income tax are at least in part coverd by the EITC

“EITC, the Earned Income Tax Credit, sometimes called EIC is a tax credit to help you keep more of what you earned. It is a refundable federal income tax credit for low to moderate income working individuals and families. Congress originally approved the tax credit legislation in 1975 in part to offset the burden of social security taxes and to provide an incentive to work. When EITC exceeds the amount of taxes owed, it results in a tax refund to those who claim and qualify for the credit.”

www.irs.gov/Individuals/EITC-Home-Page—It’s-easier-than-ever-to-find-out-if-you-qualify-for-EITC

Which refunds part or in some cases more than the amout payed as payroll taxes. But why quibble about facts.


46 posted on 09/18/2012 7:19:52 AM PDT by Bidimus1
[ Post Reply | Private Reply | To 38 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson