For those with children, $48k and less

How about those on welfare getting money back for their kids?? These folks don't support jack shit yet can get thousands back in taxes that they don't pay.

Talk about spreading the wealth.

I thought it was an EARNED INCOME CREDIT that one can ONLY GET if they file taxes and earned income? The credit is suppose to give back the qualifiers, some of the SS and Medicare taxes they PAID? I believe this credit is their own money they paid in taxes, payroll taxes????

I don't begrudge anyone qualifying for the credit, to take it, and those making very little, with Children, need it more than a couple without children....I question on how much of a disparity there is with someone making $48k with a child and still qualifying while someone who makes $20,600 as a married couple can not....the spread between the 2 seems a bit too much, that's all.
 
How about those on welfare getting money back for their kids?? These folks don't support jack shit yet can get thousands back in taxes that they don't pay.

Talk about spreading the wealth.

I thought it was an EARNED INCOME CREDIT that one can ONLY GET if they file taxes and earned income? The credit is suppose to give back the qualifiers, some of the SS and Medicare taxes they PAID? I believe this credit is their own money they paid in taxes, payroll taxes????

I don't begrudge anyone qualifying for the credit, to take it, and those making very little, with Children, need it more than a couple without children....I question on h+ow much of a disparity there is with someone making $48k with a child and still qualifying while someone who makes $20,600 as a married couple can not....the spread between the 2 seems a bit too much, that's all.

A married couple would need three children to qualify at $48,000. With only 1 child, it's $40,000.

Furthermore, the disparity you speak of is pretty easy to understand. If you and hour husband can survive making $20,500, sounds to me like you don't spend (and thus, need) much anyway. A family of 3 trying to make it on $40,000 probably needs the money. Additionally, a family of 3 needs $3,000 much more than you need $457.
 
does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

You obviously have not ever tried to feed, clothe and raise a child.

It is VERY expensive, even if you clip coupons, shop thrift, don't enroll them in tons of extracurricular activities etc.

When my twins were in daycare, I was paying $1,200/month for the two of them. I also had a mortgage to pay, food to buy, etc etc.

Currently my twin teenagers are eating us out of house and home and outgrowing their clothes at alarming rates.

Yes. It really DOES cost that much to raise children.

Have one and find out for yourself---you go girl, get that EIC.

does 1 child really cost you $ 28,000 MORE a YEAR, IN ADDITION to what it takes for you and your partner to survive? I think the answer is probably NO, it does NOT cost 28k a year EXTRA to support a child...

Honestly?28K more a year for ONE CHILD, yet 90 million americans with families make less than 21k a year, as another thread pointed out?

And my husband and I did NOT CHOOSE to not have children together, we have been UNABLE to have children together, we/I am barren...not by choice.... but should we be punished with higher taxes for it, while someone making double the money we live off of get a several thousand dollar tax credit for the SS taxes they paid in, via the EIC credit, just because they have a child?

Sorry....i have been working on our tax return....i hate doing them...it makes me a sour puss...:(

care



Where the heck is the 28k number you fools keep tossing around? The maximum EIC for one kid is barely above 3k.
 
You obviously have not ever tried to feed, clothe and raise a child.

It is VERY expensive, even if you clip coupons, shop thrift, don't enroll them in tons of extracurricular activities etc.

When my twins were in daycare, I was paying $1,200/month for the two of them. I also had a mortgage to pay, food to buy, etc etc.

Currently my twin teenagers are eating us out of house and home and outgrowing their clothes at alarming rates.

Yes. It really DOES cost that much to raise children.

Have one and find out for yourself---you go girl, get that EIC.

does 1 child really cost you $ 28,000 MORE a YEAR, IN ADDITION to what it takes for you and your partner to survive? I think the answer is probably NO, it does NOT cost 28k a year EXTRA to support a child...

Honestly?28K more a year for ONE CHILD, yet 90 million americans with families make less than 21k a year, as another thread pointed out?

And my husband and I did NOT CHOOSE to not have children together, we have been UNABLE to have children together, we/I am barren...not by choice.... but should we be punished with higher taxes for it, while someone making double the money we live off of get a several thousand dollar tax credit for the SS taxes they paid in, via the EIC credit, just because they have a child?

Sorry....i have been working on our tax return....i hate doing them...it makes me a sour puss...:(

care


Where the heck is the 28k number you fools keep tossing around? The maximum EIC for one kid is barely above 3k.

She is saying that the difference between qualifying with 1 kid and qualifying with no kids is $28,000, which is still wrong, as I pointed out in my previous post.
 
How about those on welfare getting money back for their kids?? These folks don't support jack shit yet can get thousands back in taxes that they don't pay.

Talk about spreading the wealth.

I thought it was an EARNED INCOME CREDIT that one can ONLY GET if they file taxes and earned income? The credit is suppose to give back the qualifiers, some of the SS and Medicare taxes they PAID? I believe this credit is their own money they paid in taxes, payroll taxes????


The credit is refundable, meaning you can get back more than you paid in taxes (essentially, negative taxation)

The reason it is called "earned income" is because you have to be making income to get the credit, and the more income you make - the larger the credit, to a point - and after that the credit is phased it.

The idea of the EIC is to get rid of the catch 22 of traditional welfare - welfare recipients choose to stay on welfare because if they get a job they will have less income. With the EIC - the more you work - the more money you take home - all other things being equal (filing status and # of children)
 
She is saying that the difference between qualifying with 1 kid and qualifying with no kids is $28,000, which is still wrong, as I pointed out in my previous post.

I guess i don't get her point then, but I can assure her that the best way to make more money would be to get a better job and/or work more hours and/or work for a raise at the current job. Having a kid to get the 3k in credits she would get would definitely not be a good plan.
 
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She is saying that the difference between qualifying with 1 kid and qualifying with no kids is $28,000, which is still wrong, as I pointed out in my previous post.

I guess i don't get her point then, but I can assure her that the best way to make more money would be to get a better job and/or work more hours and/or work for a raise at the current job. Having a kid to get the 3k in credits she would get would definitely not be a good plan.

i am retired(young) and my husband is semi retired....just working for the health insurance coverage for me basically...he is a disabled vet and gets his healthcare through the VA, this is not about us, although I admit that I was drawn in to checking to see if we qualified on a web site that the TV ad lead me to....they have run this ad for a few weeks, which is a misleading ad that says, if you make up to $48k you ARE ELIGIBLE for an earned income credit....it did not mention the caveat of....IF YOU HAVE A CHILD....or mention that if you don't have a child then you can only get this credit if you earned less than $13k if single or earned less than $20500 as a couple...and THIS is what brought my attention to the ''spread'' between the 2 caps and cutoffs for qualification. (a single parent can make $35k and below vs the single without a child at the $13k.... i think the person making $14 k or $15k working full time, probable could use this earned income credit as much or more than the single parent making $35k in rural america...)

i mean, this is CALLED an EARNED income credit....? they did not call it a supplemental CHILD tax credit???
 
She is saying that the difference between qualifying with 1 kid and qualifying with no kids is $28,000, which is still wrong, as I pointed out in my previous post.

I guess i don't get her point then, but I can assure her that the best way to make more money would be to get a better job and/or work more hours and/or work for a raise at the current job. Having a kid to get the 3k in credits she would get would definitely not be a good plan.

i am retired(young) and my husband is semi retired....just working for the health insurance coverage for me basically...he is a disabled vet and gets his healthcare through the VA, this is not about us, although I admit that I was drawn in to checking to see if we qualified on a web site that the TV ad lead me to....they have run this ad for a few weeks, which is a misleading ad that says, if you make up to $48k you ARE ELIGIBLE for an earned income credit....it did not mention the caveat of....IF YOU HAVE A CHILD....or mention that if you don't have a child then you can only get this credit if you earned less than $13k if single or earned less than $20500 as a couple...and THIS is what brought my attention to the ''spread'' between the 2 caps and cutoffs for qualification. (a single parent can make $35k and below vs the single without a child at the $13k.... i think the person making $14 k or $15k working full time, probable could use this earned income credit as much or more than the single parent making $35k in rural america...)

i mean, this is CALLED an EARNED income credit....? they did not call it a supplemental CHILD tax credit???





Here, if you want to alleviate your confusion, look at this IRS video. They explain it very clearly.

[ame=http://www.youtube.com/watch?v=B1Qo9EmTg-g]YouTube - Tax Tips: Earned Income Tax Credit - January 2010[/ame]
 
EVERY day, at least 10 times a day, an ad has been running on tv, for people making less than $48k a year to please remember to file for the Earned Income Credit....

the hubby and i have no children and earn literally nothing so i thought i would see if we, for a change, would qualify for a tax credit of any sort...i mean, we brought in less than half of that $48k one can make and still get an EIC credit if they have a child?

BUTTTTTTTTT, don't qualify for the credit if a childless couple makes more than $20, 500...the couple with a child can get a tax break while income is $48k, the couple without $20.5k is the cutoff????????? IS that really fair?

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

You've got to go with averages here. You can't just take $48k-20.5k and assume each kid costs $27,500/year. It'll be somewhere in the middle. Kids cost a lot of money. If you don't have any, it is simply impossible for you to understand.

Sooo, we should pay more in taxes so that you can pay less in taxes, because YOUR KIDS cost you more money? ok.

The kids that other people have will be paying for your social security.
 
How about those on welfare getting money back for their kids?? These folks don't support jack shit yet can get thousands back in taxes that they don't pay.

Talk about spreading the wealth.

I thought it was an EARNED INCOME CREDIT that one can ONLY GET if they file taxes and earned income? The credit is suppose to give back the qualifiers, some of the SS and Medicare taxes they PAID? I believe this credit is their own money they paid in taxes, payroll taxes????

I don't begrudge anyone qualifying for the credit, to take it, and those making very little, with Children, need it more than a couple without children....I question on how much of a disparity there is with someone making $48k with a child and still qualifying while someone who makes $20,600 as a married couple can not....the spread between the 2 seems a bit too much, that's all.


Welcome to the wonderful world of liberalism and micro managing how people live.
 
You've got to go with averages here. You can't just take $48k-20.5k and assume each kid costs $27,500/year. It'll be somewhere in the middle. Kids cost a lot of money. If you don't have any, it is simply impossible for you to understand.

Sooo, we should pay more in taxes so that you can pay less in taxes, because YOUR KIDS cost you more money? ok.

The kids that other people have will be paying for your social security.

So will illegal aliens....your point?

Hey, my generation has paid the surplus social security tax for 40 years....before we can retire and draw social security....we paid for our parents and a good portion for ourselves....

We also have paid anywhere from $2k to 5k a year in property taxes our entire lives for other people's children to go to school....this I do not mind, education for our country's children is important.

Se la vie!
 
Sooo, we should pay more in taxes so that you can pay less in taxes, because YOUR KIDS cost you more money? ok.

The kids that other people have will be paying for your social security.

So will illegal aliens....your point?

Hey, my generation has paid the surplus social security tax for 40 years....before we can retire and draw social security....we paid for our parents and a good portion for ourselves....

We also have paid anywhere from $2k to 5k a year in property taxes our entire lives for other people's children to go to school....this I do not mind, education for our country's children is important.

Se la vie!



Social security has always been pay as you go.
 
The kids that other people have will be paying for your social security.

So will illegal aliens....your point?

Hey, my generation has paid the surplus social security tax for 40 years....before we can retire and draw social security....we paid for our parents and a good portion for ourselves....

We also have paid anywhere from $2k to 5k a year in property taxes our entire lives for other people's children to go to school....this I do not mind, education for our country's children is important.

Se la vie!



Social security has always been pay as you go.

Social security WAS pay as you go, until 1983, when Reagan, via the advice of Greenspan, gave us a 100% tax increase on our Social Security tax....it was only 3+% for us and the same for our employer, which was paying for all of the retirements of the seniors....(pay as you go)

When this tax was doubled, (so that the government could collect surplus social security taxes from us, to pay for ourselves, to pay for our own retirement, as well to pay for our parents and grandparents....we were told there would NOT be enough people to support us and our retirement by the time we retired at the very tail end of the Boomers...)it no longer was a "Pay as you go" tax, but sadly... became a cash cow for congress...:(
 
Sooo, we should pay more in taxes so that you can pay less in taxes, because YOUR KIDS cost you more money? ok.

The kids that other people have will be paying for your social security.

So will illegal aliens....your point?

Hey, my generation has paid the surplus social security tax for 40 years....before we can retire and draw social security....we paid for our parents and a good portion for ourselves....

We also have paid anywhere from $2k to 5k a year in property taxes our entire lives for other people's children to go to school....this I do not mind, education for our country's children is important.

Se la vie!

For God's sake Care---SOMEONE has to breed future taxpayers !:lol:
 
So will illegal aliens....your point?

Hey, my generation has paid the surplus social security tax for 40 years....before we can retire and draw social security....we paid for our parents and a good portion for ourselves....

We also have paid anywhere from $2k to 5k a year in property taxes our entire lives for other people's children to go to school....this I do not mind, education for our country's children is important.

Se la vie!



Social security has always been pay as you go.

Social security WAS pay as you go, until 1983, when Reagan, via the advice of Greenspan, gave us a 100% tax increase on our Social Security tax....it was only 3+% for us and the same for our employer, which was paying for all of the retirements of the seniors....(pay as you go)

When this tax was doubled, (so that the government could collect surplus social security taxes from us, to pay for ourselves, to pay for our own retirement, as well to pay for our parents and grandparents....we were told there would NOT be enough people to support us and our retirement by the time we retired at the very tail end of the Boomers...)it no longer was a "Pay as you go" tax, but sadly... became a cash cow for congress...:(



It is still pay as you go. The social security trust fund has been raided since day 1 of its creation. Functionally its the same as if it never existed.
 
The kids that other people have will be paying for your social security.

So will illegal aliens....your point?

Hey, my generation has paid the surplus social security tax for 40 years....before we can retire and draw social security....we paid for our parents and a good portion for ourselves....

We also have paid anywhere from $2k to 5k a year in property taxes our entire lives for other people's children to go to school....this I do not mind, education for our country's children is important.

Se la vie!

For God's sake Care---SOMEONE has to breed future taxpayers !:lol:

Of course! This IS WHY our government subsidizes all parents with Children through our tax code...they NEED these children, and these children's children to pay for what they have already spent!

I have read some other countries are faced with the same shortage of people and are actually paying women boocoos, to have children.
 
So will illegal aliens....your point?

Hey, my generation has paid the surplus social security tax for 40 years....before we can retire and draw social security....we paid for our parents and a good portion for ourselves....

We also have paid anywhere from $2k to 5k a year in property taxes our entire lives for other people's children to go to school....this I do not mind, education for our country's children is important.

Se la vie!

For God's sake Care---SOMEONE has to breed future taxpayers !:lol:

Of course! This IS WHY our government subsidizes all parents with Children through our tax code...they NEED these children, and these children's children to pay for what they have already spent!

I have read some other countries are faced with the same shortage of people and are actually paying women boocoos, to have children.

Bingo----it's one beautiful circle----I will pay taxes so the government can afford to subsidize breeders so they can pay the bills I left them. Makes sense to me :lol:
 

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