What's wrong with this pic

dwna1a

dwna1a

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Apr 23, 2012
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James River
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88 Weekender 300 "Seahorse"
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Raining it's tail feathers off again today so I went out for lunch. Sitting at the bar I over heard two lady's talking about their tax returns, now one of the two I know, she's out of work, with two kids, and on Fed and State assistance. ( she applied for work with me). She got $8000.0 back.....How? When you don't pay in do you get money back? Sorry, I needed to vent!
 
What the hell is wrong with the system, I just don't get it. Just last week I saw a couple and 2 kids in the checkout in front of me with $130.00 in grocerys and paid for it with a "bridge card" and then they had a copier or printer or something and she says to her boyfriend (I am just about positive they are not married) I need some money, He pulls out a friggin wad of money 2" thick and pays for it. :(

LK
 
MonacoMike said:
It is called EITC earned income tax credit. Even though nothing may actually be earned.

MM
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Mike, I may be an old VA boy, and I really don't understand, but if you earn nothing then just how do you get a credit? So while I pay my $1500 to the state and just break even with the Feds after paying quarterly, if I just stayed home they'd pay me, and my bills?
 
EITC has long been a part of tax compomise, to get bi-partisan support for tax reform and reduction, a give away is built into a reduction earners pay.

"The United States federal earned income tax credit or earned income credit (EITC or EIC) is a refundable tax credit for low- and medium-income individuals and couples, primarily for those who have qualifying children. When the credit exceeds the amount of taxes owed, it results in a tax refund to those who qualify and claim the credit. This is what makes the credit refundable."

"For tax year 2011, the maximum EIC for a single person or a couple who is married filing jointly (MFJ) without qualifying children is $464. The maximum EIC for a single person or a couple with one child is $3,094, for a single person or couple with two children is $5,112, and for a single person or couple with three or more children is $5,751. These numbers are indexed annually for inflation. Most people do not receive the maximum credit."

MM
 
Would that mean my teenage working daughter could use this loophole and get money back, even tho she only works a part time job two days a week?
 
like , OBAMA PHONES, OBAMACARE , WE'RE THE SUCKERS ,PAYING FOR ALL THE OBAMA HANDOUTS!!! now i have to hand over money! next i'll be handing over my GUNS!!! its ridiculous and the media laughs about it all they talk about is Michelle"s stupid hair due!!and Lance Armstrong, Really??? we"re in deep s&^t people wake up!!!
 
We are awake havana,smelling salts under our noses hands tied behind our backs.We here in michigan had six ballot proposals to vote on last election,one passed i belive,Two of the biggest ones were defeated by a large volume but since the major parts of them have been reworded and made into law by the state and the rest are probably still on the table to become law.So now we have government by the gov ernment for the government that steals from the people.I say dump them all and start over with people that can understand the us constitution for what it is not use it or interpret it for the abuse or gain power.That goes for the states constitutions as well dont change them from thier originals unless the majority of the people approve.It seems our state and local governments make decisions based on where it will move them personally or position them monetarily in the future.Sorry for rant Glen
 
1956olds said:
We are awake havana,smelling salts under our noses hands tied behind our backs.We here in michigan had six ballot proposals to vote on last election,one passed i belive,Two of the biggest ones were defeated by a large volume but since the major parts of them have been reworded and made into law by the state and the rest are probably still on the table to become law.So now we have government by the gov ernment for the government that steals from the people.I say dump them all and start over with people that can understand the us constitution for what it is not use it or interpret it for the abuse or gain power.That goes for the states constitutions as well dont change them from thier originals unless the majority of the people approve.It seems our state and local governments make decisions based on where it will move them personally or position them monetarily in the future.Sorry for rant Glen
Click to expand...

This is true! I had a similar statement a year or so ago. Unfortunately, anything short of an armed revolution, which I am NOT advocating, will not make any difference. We can keep sending the "new" guy to Washington but eventually the greed and filth seeps into their skin and they become part of the problem too. I have no answers my friend.......rant over!
 
My ex in 2005 got 5k back in EIC money
she never worked while we were married and divorced in November ...she actually got a job (when she had to)
and worked 3 weeks in 2005 then quit her job in late January when her rapid refund came
then found some other sucker to bleed dry for less than a year and did it again.
personally I feel she should have been prosecuted for tax fraud.
oh yeah...and she and the kids dad BOTH claimed the kids as dependents every year and so far as I know never got caught.
 
moparlvr4406 said:
My ex in 2005 got 5k back in EIC money
she never worked while we were married and divorced in November ...she actually got a job (when she had to)
and worked 3 weeks in 2005 then quit her job in late January when her rapid refund came
then found some other sucker to bleed dry for less than a year and did it again.
personally I feel she should have been prosecuted for tax fraud.

oh yeah...and she and the kids dad BOTH claimed the kids as dependents every year and so far as I know never got caught.
Click to expand...

You could still turn them in, and the IRS would still go after them both
 
My gf ex tried that once,the kid was living with us at the time too.He was/is pissed still.
 
dwna1a said:
Raining it's tail feathers off again today so I went out for lunch. Sitting at the bar I over heard two lady's talking about their tax returns, now one of the two I know, she's out of work, with two kids, and on Fed and State assistance. ( she applied for work with me). She got $8000.0 back.....How? When you don't pay in do you get money back? Sorry, I needed to vent!
Click to expand...

No apology required as far as I am concerned. The Wife will be hearing me vent when I pay our property taxes. Here in Michigan, I get to pay an extra millage on my rental property because it isn't homestead. For example the rental property's tax bill is as much as my primary residence even though the market value on it is a third. I have to walk a thin line when setting the lease amount for tenants so I don't price myself out of the market but cover expenses.
 
Did you see where snyder wants to tack on $120.00 every year on every car you own to pay for the roads? I thought the tax in EVERY gallon of gas was supposed to keep up the roads...

He is an @$$hole for even considering that.

LK
 
I got mine for the boat yesterday, $895 for the year. Guy next to me he has the same boat, year and all....he pays 1/3 of what I do. jCC redid their taxes on boats, any boat over 10,000 lbs pays $1 per $100 anyone under that pays $3.50, instead of making things even they only lowered the top 1%. all in the hope the larger (35' and above) would move their boats back from Hampton (no taxes on boats) to JCC
 
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