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[StrollPatrolMom]

I assume you mean the EIC? aka the gift they already get from the government....

no, frankly I think the stimulus checks are a bad idea to begin with...truth is way too many people are living beyong their means, running up credit cards, taking out risky mortgages to pay them off....

to me that only fuels the entitlement perception that allows for programs like EIC. The "working poor" in this country somehow feel deserving of these kinds of government gifts and the real problem is they are not gifts from our government, they are gifts from China's...

Everyone needs to readjust their perceptions of what we're "entitled" to in this country....no one should be taking a deluxe Disney vacation with someone else's hard earned tax money

 

[StrollPatrolMom]

I thought you actually had to pay taxes in order to get this money?

Say I paid $5000 in federal taxes but only actually owed $4000, I got a refund of $1000. HOWEVER I did still pay taxes and get the rebate (stimulus) check.

Now EIC: I paid $2000 in federal taxes but due to EIC I got a refund of $4000. In that instance, as far as what I've read they DO NOT get the rebate check since they didn't actually pay any taxes.

actually, the stimulus payments are based on income, not taxes paid in...from what I understand yes they will get the rebate.

 

[graygables]

Current Tax Year 2007

Earned income and adjusted gross income (AGI) must each be less than:

*
$37,783 ($39,783 married filing jointly) with two or more qualifying children;
*
$33,241 ($35,241 married filing jointly) with one qualifying child;
*
$12,590 ($14,590 married filing jointly) with no qualifying children.

Tax Year 2007 maximum credit:

*
$4,716 with two or more qualifying children;
*
$2,853 with one qualifying child;
*
$428 with no qualifying children.

Investment income must be $2,900 or less for the year.


My note: these are maximums. It is calcuated on a type of bell curve, so those making the most and the least qualify for less than the maximum. If you are single (ages 25-65, unable to be claimed as a dependent on someone else's taxes) and make, say 6,000/year, you may get $428, but if you are making $1000 or $12000 per year, you may only get $25 (hypothetical numbers, not actual figures) Also, you must have EARNED income, not alimony, child support, welfare...it has to come from a job.

As a single mom and full time school teacher, I qualified for EITC several years and was grateful for it. I do not begrudge anyone who qualifies for the little extra it provides. There is a system in place to pre-pay the EITC to those who qualify so that it goes to their monthly pay rather than getting a big chunk at tax time. The EITC was what kept me from having to apply for food stamps and public assistance.

To me, it's much like people who get angry at WDW when my DD is allowed to use the back entrance to an attraction b/c of her chronic fatigue (even though it's typically a longer wait, she's able to sit/rest rather than stand). I'll TRADE you any day for your child's health. With the EITC, be grateful you make enough that you don't depend on it and have enough human decency to understand that those who receive it would much rather be in your shoes.

 

[MrsPete]

I think a stimulus check is a stimulus check - I don't care who gets it as long as they use it in the manner which it was intended. Spend it - put it back into circulation.

But where'd the money for that stimulus check come from? The government took it out of your paycheck and my paycheck! Are you really okay with them giving it to someone who didn't earn enough money to pay ANY taxes . . . as long as they go out and spend it? I'm not.

 

[luvsJack]

You can't get EIC if you don't work. That's why they call it "earned income" credit - it's for those that earn their money.

Exactly. I misspoke (mistyped?), I should have said "not for those who don't work". This is not something that people sit at home and collect once a year at tax time. It is "earned income". Its simply that for whatever reason their income was below a certain level for the year. I don't get everyone's problem with them getting the stimulus check. They may receive EIC this year, but only this year or only until thier income increases. This is not a "milk the system" type of thing. Lots of hardworking people that can really use that stimulus check (like to buy gas to get to work) have an income low enough for EIC.

 

[rparmfamily]

Hey guess what...there are PLENTY of hardworking people here in our country who for 1 reason or another are lower middle class or "working poor" and so they qualify for EIC. There are plenty of good and needed jobs that pay crap!!! Think social work, military, teachers (especially daycare and preschool), some police/firefighters/EMS,etc. I'm sure the list goes on! It's not for lack of ambition,etc.

 

[Mkaz]

I suspect this will get heated. I am on the annoyed side as I feel the EIC is just rewarding people for having more kids then they can afford. It's pretty frustrating when they pay almost NOTHING for taxes and make money on their returns and NOW we will give them more for nothing.

But in the end - I would much rather have my life with my salary and being able to 100% take care of myself, my family and my tax obligations without handouts and thus can help others. Those that deserve it.

So basically what you are saying is that only wealthy people are allowed to have children?

How do you know how much *they* paid in taxes?

Who are? "Those that deserve it."

My husband owns his own business. We pay our taxes according to what the IRS requires us to pay. If we qualify for EIC, that's our business. It doesn't mean that we can't afford to have children.

In the end, I wouldn't want your life. Especially if it means looking down my nose at other people!

 

[Mkgaapril]

You can't get EIC if you don't work. That's why they call it "earned income" credit - it's for those that earn their money.

i know you have to work but i was told you have to have children to collect this

 

[HelenePA]

I got 44$ from the EIC seriously not eveyone who gets the EIC gets hundreds or thousands of dollars. We made 39k last year which is good money for our area. I am NOT poor, I do not recieve welfare (unless your counting that 44$ as welfare) my dh works as much as he can. If your saying I dont deserve that rebate because I got 44$ from the EIC I'll gladly repay the 44$ and get the rebate instead.

 

[breezy1077]

But where'd the money for that stimulus check come from? The government took it out of your paycheck and my paycheck! Are you really okay with them giving it to someone who didn't earn enough money to pay ANY taxes . . . as long as they go out and spend it? I'm not.

I get your point, but they're taking the money anyway. My business is tied closely to the economy, so whatever will help...and I'm not sure it does (but right now I'm open to suggestions), I'm in favor. ( I don't know - I'm in a goofy mood today)

 

[Mkgaapril]

this is what I expect at the dinner...its going to be a train that keeps going....

I was emailed my next question....are you guys ready or will it cause a war....

 

[Mkaz]

It depends. Is it one that may need it's own thread like this one?

 

[AmberDaClown]

The EIC is a horrible idea and does nothing but continue the entitlement mentality that started with The New Deal.

Yes people who earned no income will be benefiting. Those who are on social security and filed a return even if they reported no earned income will in fact be getting this "stimulus" check.

 

[HelenePA]

The EIC is a horrible idea and does nothing but continue the entitlement mentality that started with The New Deal.

Yes people who earned no income will be benefiting. Those who are on social security and filed a return even if they reported no earned income will in fact be getting this "stimulus" check.

So will my dead grandmother

 

[Mkgaapril]

do you think that people (eic)should be told what to do with the rebate...ie..buy children clothes, hair cuts....if not what do you think it should be spent on

 

[LUVMYTINK]

Hey guess what...there are PLENTY of hardworking people here in our country who for 1 reason or another are lower middle class or "working poor" and so they qualify for EIC. There are plenty of good and needed jobs that pay crap!!! Think social work, military, teachers (especially daycare and preschool), some police/firefighters/EMS,etc. I'm sure the list goes on! It's not for lack of ambition,etc.

Thank you for pointing that out to everyone. My DH (see tag for what he does) busts his butt just like everyone else and he gets paid basically diddly squat for putting his life on the line every single day.

 

[Mkgaapril]

ok here is the rest of the new question....


eic is for the poor, tax breaks for the rich...do you think the rebate should go to the working middle class who never qualify for a break

 

[graygables]

do you think that people (eic)should be told what to do with the rebate...ie..buy children clothes, hair cuts....if not what do you think it should be spent on

umm, no. That's a bit too big brother. Most people who get the EITC back are going to use it for necessities. There are always going to be the gems (like the lady in front of me at the grocery store carrying the brand new $100+ Vera Bradley purse with lobster, ribeye, organic asparagus who whipped out her food stamp card to pay for it...) that find ways to abuse the system, but I truly believe the vast majority of people who receive the EITC use it to the best benefit of their families.

 

[StrollPatrolMom]

But where'd the money for that stimulus check come from? The government took it out of your paycheck and my paycheck! Are you really okay with them giving it to someone who didn't earn enough money to pay ANY taxes . . . as long as they go out and spend it? I'm not.

actually, we borrowed it from China

The government is bankrupt...

 

[HelenePA]

do you think that people (eic)should be told what to do with the rebate...ie..buy children clothes, hair cuts....if not what do you think it should be spent on

I buy those things anyway!! My kids are wearing name brand clothes and shoes. Seriously not everyone on the EIC is poor. Please dont lump us all into loosers who dont work. Dh just left for his 2nd job. So your saying if DH would have made about 200$ last year which would have excluded us from that whole 44$ I got from the EIC you wouldn't be telling me what I should spend the rebate on?? I own my house. I own my car, I pay house taxes, I pay garbage, electric, water get off that high horse some of you are on...