Should the "Earned Income Credit" be done away with?

[Stephanie329]

So a family member said the government should stop the earned income credit (even though his family received it for years).

What say you?

(We do not qualify, however, I don't necessarily think others shouldn't receive the credit)

[survivorinohio]

I think  that its crazy.  I am not a financial analyst so I am ignorant as to some facts of the matter like what effect canning it would have on the retail sales and the economy in general.  I would guess its a hell of a stimulus.

I still think its crazy. *shrug*

[survivorinohio]

Quoting survivorinohio:

I think  that its crazy.  I am not a financial analyst so I am ignorant as to some facts of the matter like what effect canning it would have on the retail sales and the economy in general.  I would guess its a hell of a stimulus.

I still think its crazy. *shrug*

I had always been eligible for the credit

[Stephanie329]

I agree, it gets people spending.

Quoting survivorinohio:

I think  that its crazy.  I am not a financial analyst so I am ignorant as to some facts of the matter like what effect canning it would have on the retail sales and the economy in general.  I would guess its a hell of a stimulus.

I still think its crazy. *shrug*

[pamelax3]

I think it should be, no one should get back more than they contributed

[OHgirlinCA]

 I don't think it should necessarily be done away with.  However, I would like to see an end to refunds that give back more than what was paid in. 

[survivorinohio]

Quoting pamelax3:

I think it should be unless that person has worked all year and payed their owed taxes

?

What do you mean?  You cant get it unless you work.

[Friday]

Quoting pamelax3:

I think it should be unless that person has worked all year and payed their owed taxes

You can't qualify for the EITC unless you have earned income. It's supposed to be an incentive to work instead of sitting home collecting PA.

[kam013]

I have a family member who receives it and I do know it helps a lot, but I cannot support a person(s) getting back more money than they put in.  

If you want to give them everything they put in back, I can live with that, but getting back more than you paid is just unfair to those that do pay their fair share.

[afwifeandmommy3]

I think it should stay because it gets people spending

[jehosoba84]

 I think it should stay because we cannot survive without it : (    However, we don't use it for 'spending' in the usual way people think. We pay off debts, buy large items like tires for our car. Make major repairs to our home, this year my washer and dryer are going out on me.  No tv's and no vacations for us.