To: Final Authority
They do not pay income tax but if they work they pay a high payroll tax. ... which they get back as a tax credit (negative income tax) via the EITC.
73 posted on
05/03/2005 8:53:23 AM PDT by
kevkrom
(If people are free to do as they wish, they are almost certain not to do as Utopian planners wish)
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: kevkrom
WRT #73, that is, if they actually file.
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