Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

The CafeMom Newcomers Club The CafeMom Newcomers Club

Earned income credit

Posted by on Jan. 8, 2013 at 1:26 AM
  • 6 Replies

I don't think I will ever understand how the Government actually gives people more money back on their tax returns then they put in.  I can see giving them a complete refund of everything paid, but how do they get more?  It's crazy!

by on Jan. 8, 2013 at 1:26 AM
Add your quick reply below:
You must be a member to reply to this post.
Replies (1-6):
shadow_lark
by Gold Member on Jan. 8, 2013 at 1:30 AM
My understanding is that its supposed to be an incentive for people to keep working rather than quit and use welfare. It helps to bridge the gap between the cost of living and what is brought home.
Posted on the NEW CafeMom Mobile
MissTacoBell
by Taco Bell Princess on Jan. 8, 2013 at 1:33 AM
This.


Quoting shadow_lark:

My understanding is that its supposed to be an incentive for people to keep working rather than quit and use welfare. It helps to bridge the gap between the cost of living and what is brought home.

Posted on CafeMom Mobile
mrswilson10
by on Jan. 8, 2013 at 1:38 AM
1 mom liked this

I think it would simplify it greatly if everyone paid the same tax rate. That way it is all fair. If you make 12k a yr then you pay 5% of that...if you make 200k a yr your pay 5% of that! Just using the 5% as an example.

Landen05
by on Jan. 8, 2013 at 11:55 AM

Good for all the people that get it but it is essentially just a bonus from the government.  The government doesn't have extra money to give out , especially to "thank" people for having a job.

ambermario4ever
by Gold Member on Jan. 8, 2013 at 11:58 AM

We get the eic but we don't get any where near what we paid in back.

stormflower21
by on Jan. 8, 2013 at 12:01 PM

now too bad they didn't do that with the child tax credit-I'd love to get all my money back from what I pay into childcare..I only get a third of it back-but don't worry next year it won't matter-we wont be able to claim either


Add your quick reply below:
You must be a member to reply to this post.
Join the Meeting Place for Moms!
Talk to other moms, share advice, and have fun!

(minimum 6 characters)

close Join now to connect to
other members!
Connect with Facebook or Sign Up Using Email

Already Joined? LOG IN