Quantum Windbag
Gold Member
- May 9, 2010
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I'd argue that tax breaks aren't government benefits, but there is certainly enough on this list to show that a significant number of recipients of government funds don't know they receive government funds.
Cornell Chronicle: Recipients of federal aid say they're not"Keep your government hands off my Medicare," said a citizen attending a town hall meeting in Simpsonville, S.C., in 2009. Many Americans like him -- who benefit from federal largesse but don't realize it -- favor deep cuts to government programs.
We are definitely seeing that here in Florida, where current Governor Rick Scott is polling at all time lows of 29%. Yet Scott is doing exactly what he said he'd do and nothing more.
Just a note
If tax credits are fully refundable, past the point of zero and still refundable, then yes
If tax credits take tax liability to zero but not lower and not refundable- then no
Did you know that even the Earned Income Credit has a limit.
The IRS will compute against your payroll taxes (SS, Medicare) and can not be more than those totals.
In effect, the worse the Gov't can do then is have a zero cash flow with an individual on their taxes.
I think you need to reform your definition of tax credits.
If you get back more than you pay it is a credit. The Earned Income Credit is a credit. SS and Medicare only impact the EIC in your head. You can get up to $5,666 with an income of only $12,550 (3 or more children) which is 45% of your income. I could be way off base here, but I am pretty sure that payroll, SS, and Medicare do not add up to 45% of anyone's income.