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Current Events & Hot Topics Current Events & Hot Topics

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

Posted by on Jan. 28, 2013 at 3:48 PM
  • 33 Replies
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)
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by on Jan. 28, 2013 at 3:48 PM
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Replies (1-10):
survivorinohio
by René on Jan. 28, 2013 at 3:54 PM

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
by René on Jan. 28, 2013 at 3:55 PM


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

How far you go in life depends on your being: tender with the young, compassionate with the aged, sympathetic with the striving and tolerant of both the weak and strong.  Because someday in life you would have been one or all of these.  GeorgeWashingtonCarver


Stephanie329
by Platinum Member on Jan. 28, 2013 at 4:00 PM
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*


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pamelax3
by Gold Member on Jan. 28, 2013 at 4:02 PM
2 moms liked this

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

OHgirlinCA
by Platinum Member on Jan. 28, 2013 at 4:05 PM
1 mom liked this

 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
by René on Jan. 28, 2013 at 4:05 PM


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.

How far you go in life depends on your being: tender with the young, compassionate with the aged, sympathetic with the striving and tolerant of both the weak and strong.  Because someday in life you would have been one or all of these.  GeorgeWashingtonCarver


Friday
by HRH of MJ on Jan. 28, 2013 at 4:06 PM
1 mom liked this


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.

 


Thank God......it's Friday!!!

kam013
by Silver Member on Jan. 28, 2013 at 4:07 PM
1 mom liked this

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
by Bronze Member on Jan. 28, 2013 at 4:08 PM
I think it should stay because it gets people spending
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jehosoba84
by Jenn on Jan. 28, 2013 at 4:12 PM

 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.

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