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Why do they call it earned income credit?

When you didn't earn much income (if any)?

 
ThatTXMom

Asked by ThatTXMom at 7:31 PM on Jan. 16, 2010 in Just for Fun

Level 7 (156 Credits)
This question is closed.
Answers (9)
  • Don't even get me started...lol. I think it is awesome to help the hardworking people of America who get paid squat for busting their humps to do crap jobs, but I am also ticked off that more money is taken away from the middle-waged, or middle-incomed, workers who also work hard and get taxed to death and get very little in return. It sucks to try to get ahead unless you are able to become rich overnight.
    PrydferthMenyw

    Answer by PrydferthMenyw at 1:15 PM on Jan. 17, 2010

  • It's still EARNED as opposed to Unearned income
    admckenzie

    Answer by admckenzie at 7:33 PM on Jan. 16, 2010

  • because it is based on your earned income no matter how small it may be
    mommymeg03

    Answer by mommymeg03 at 7:35 PM on Jan. 16, 2010

  • You're getting credit for making an effort instead of sitting on your ass doing nothing.
    NotPanicking

    Answer by NotPanicking at 7:35 PM on Jan. 16, 2010

  • Awww, but if you earn over the cutoff you get no credit? Now does that seem fair?
    ThatTXMom

    Answer by ThatTXMom at 7:49 PM on Jan. 16, 2010

  • you get no credit

    You do, it's called a bigger refund. Course if you were doing it right, you wouldn't be getting any refund at all. You'd be investing the money up front and collecting interest on it instead. Another perk not available to people who can barely survive on the income they earn.
    Anonymous

    Answer by Anonymous at 7:53 PM on Jan. 16, 2010

  • you get CREDIT for EARNing and INCOME :D
    Anonymous

    Answer by Anonymous at 8:20 PM on Jan. 16, 2010

  • It's a credit for the income that you did earn. The income that is not usually enough to survive on.
    tyfry7496

    Answer by tyfry7496 at 10:37 PM on Jan. 16, 2010

  • Have no idea. We've never gotten that.
    Anonymous

    Answer by Anonymous at 8:00 AM on Jan. 17, 2010

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