Today I love the IRS

[cardaway]

I want to dump the system because it's too easy to abuse and people end up getting more out than they put in. Sorry if that hurts people are playing by the rules, but I would hope they can see how we don't want to see our hard earned money going to waste. No reason my family should have less because the IRS wants to give it to somebody who wants toys for their fancy car.

 

[Toby'sFriend]

exactly. The EIC is what is known as a Refundable Tax Credit, which means you can receive an amount back that is greater than whatever income tax you paid in (if any). .

In short you not only do not pay Income Taxes, the Government pays you an additional amount.

That isn't the case for everybody who receives the EIC, and not everybody who receives the EIC uses the money to buy "stuff." In fact, I'd guess that most of them probably use it for everyday living expenses

It is meant to bring the Standard of Living of families up to a certain level. The problem is, when people see that some people who receive it use the check to buy luxuries, they tend to think that the money could be distributed in a better way.

 

[rayelias]

Let the woman spend her money the way she wants to. Maybe she busted her butt all year long to support her children BY HERSELF and now she wants to do something a little frivolous. Big freakin' deal.

The point is, it's NOT her money. It's mine, yours, and other taxpayers.

Why not let ME spend MY money the way *I* want to?!? I earn it! Why should it be forcably taken from me (or you, or anyone) and redistributed to someone else? *I* earned it!

There are many people who should get a helping hand with paying the rent, putting food on the table, or clothes on their backs. A LOT of which is available through wonderful private charities. The "helping hand" should NOT include lobster dinners, liquor, designer clothes, cars, etc.

It's very frustrating to see some people who bust their butts to provide basic necessities for their families and get little help. Versus the others who say they can't afford things and need help, yet they've got gold earrings, $80 sneakers, color TV w/ cable, cellphones. If you can afford a DVD player and a game boy, you don't need my tax money.

Frivilosity should come AFTER basic necessities are met.

 

[cats7494]

Boy - people do get rather judgemental here, don't they?
...Sheesh -calm down people! You do not know her circumstances...

OP - have fun shopping!

 

[Momma Rabbit]

Boy - people do get rather judgemental here, don't they?
...Sheesh -calm down people! You do not know her circumstances...

OP - have fun shopping!

Welcome to the dis where all the women are perfect, the men carry no debt, and all the children are above average

 

[cardaway]

Boy - people do get rather judgemental here, don't they?
...Sheesh -calm down people! You do not know her circumstances...

We know what we were told. IMO there is not a circumstance when somebody receiving this money should be able to buy something like a car stereo. That is the problem with the system in a nutshell.

 

[perdidobay]

For people who get more back than the taxes they paid in, EIC is (let's be honest now) a welfare payment.

 

[imsorry]

Welcome to the dis where all the women are perfect, the men carry no debt, and all the children are above average

and everyone plays by the rules and never re-uses their refillable mug!

 

[BuckNaked]

I hope your not serious, but anyway its examples like these why I say the EIC is a load of

Exactly. Nothing but a glorified welfare check.

But by all means, enjoy it!

 

[phorsenuf]

Welcome to the dis where all the women are perfect, the men carry no debt, and all the children are above average

LOL...don't look at me! I am far from perfect, my DH (and I) have debt, but I must say my kids are above average! LOL

So Momma Rabbilt, it doesn't bother you that some (not all, but some) people that recieve the EIC credit (translated your money) spends it on luxary things instead of putting it to good use? Wouldn't you rather get $500 of your own money back than just give it to someone who may be abusing the system. (I'm not saying that about the OP, I'm talking about cases "cited" in this thread).

 

[Miss Jasmine]

Welcome to the dis where all the women are perfect, the men carry no debt, and all the children are above average

Holy crap that is funny.

 

[BuckNaked]

I don't think so much the issue is she's buying things per se because some of that money she did pay in. What bothers people is when people get back more than what they pay in. So lets say she pays in $1000 but gets $1500 back because of the EIC credit. Essentially it us, the taxpayers that are buying that LCD TV. I'm assuming that is the problem alot of people see.

Again, right on target. If all the money that was withheld comes back, great. But to tack on a welfare payment on top of paying $0 in taxes...

 

[tandrjohn]

Welcome to the dis where all the women are perfect, the men carry no debt, and all the children are above average

Good one!!!

 

[cardaway]

If all the money that was withheld comes back, great.

Not so fast. In some cases the money withheld is coming back because the person is making their situation out to be worse than it really is. Living with a boyfriend that pays the bills is a great example.

 

[LisaNJ25]

Why are people assuming that everyone that qualifies for the EIC only works a little? I work full time year-round, bust my butt working and will qualify for EIC now because I am a single mother with 2 children.

We dont all assume that. As a matter of fact, if it was only my husbands FT salary we would qualify. He also has a part time job and I work on weekend. This brings us above.

 

[floridafam]

Wow, a welfare payment? I guess I don't see it that way. I think Dh collected it for 1 year. I think he would feel awful to know that some people equate that with welfare. He was just starting at the place where he is curently employed and he was finishing his degree.

We probably used the additional money to buy groceries or pay his tuition.

My money goes to other people every day. I pay for uninsured drivers every month when I pay my car insurance, etc.

I don't know the OP's situation. I don't want to or anyone else's on the DIS. I do what is right by my family and that's all I need to worry about.

I'm done.

 

[N.Bailey]

We're getting back $7470 and it will be directly deposited into our account on Feb. 7th (hopefully sooner. LOL) according to the IRS website. My husband works a lot of overtime and the overtime is just taxed at a higher rate, plus, we do pay extra in out of each paycheck. I know it's not the smartest thing to do, but we love tax time.

We do not and have NEVER qualified for EIC and since I was old enough to understand the tax system (long before getting married and having kids), I've thought it should be done away with. I don't believe anyone should get back more than they pay in. We tax the rich heavily and the middle income pays a lot too. All of those taxes could be lowered if they'd stop playing the Robin Hood game (which I have never believed in).

As an aside however, I do not fault anyone who takes advantage of it. It's not the person filing that put the system in place.

 

[Chicago526]

Our refund is taking us to Disneyland!





Sure, it could go towards paying down one of the CC's, but we're already on track to pay that off in 17 months, and the refund would only shorten that by one month anyway. I'd rather take the trip!

 

[wvjules]

Wow at this thread. First of all, yes I qualify for EIC. Do I think of it as a glorified welfare check? Absoutely not! Next year (hopefully) I won't qualify for it. You konw why I say hopefully? Well, b/c that means that I'll be earning more money than I ever have before and won't qualify for that glorifed welfare check. DD and never want/need for anything. I don't pay into the prepaid college thing but I do contribute to her savings account every month. I feed, clothe, and provide the necessities for both of us all year plus occasionally do a WDW vacation every other year and probably blow more than I should on luxuries. Am I a bum for getting and spending that money that the government gives me? No, I'm not. And this time next year I won't be getting it. Am I mad? Nope, it just means I'm doing better for myself and that's better than any $1303 in "Free Money" I'll get from the feds.

I agree that some people abuse the system, but you know what? Someone will always figure out to abuse any system. And believe it or not, I'm not in favor of getting back more than I paid in anyway. But thats the way it is. It has its flaws and needs to be fixed but don't chastize those that are responsible (for the most part) with their money all year long for receiving money that the government thinks we are entitled to (whether its right or wrong). This is a problem with our tax laws and government, not with me, mudnuri, or anyone else on here that happens to receive it.

Now how would you all like your $1303 back? Shall I mail you a check?

 

[cats7494]

Welcome to the dis where all the women are perfect, the men carry no debt, and all the children are above average

Isn't that just the truth? ha ha
And I still have no problem with people spending their tax returns how they want. Not my business -nor is it anybody else's business