Simple tax fix - stop giving away my money

United States
October 14, 2008 9:16am CST
I do not understand why politicians can't see the forest for the trees. They're trying to find ways to fund all sorts of programs and yet they continue to dole out welfare in the form of taxes. I'm speaking of Earned Income Credit. When Earned Income Credit was instituted, it was for a noble cause - don't force those with a smaller income and family to support to pay income taxes. When it began, you would get a tax credit up to the amount of taxes you owed. This allowed you to pay zero taxes if your income was low enough based on your dependents. However, somewhere down the road, in the infinite wisdom of politicians (he says as he gags), they decided that the credit would all go back to the "taxpayer" (I use that term extremely loosely). Therefore if you owe $1000 in taxes but you have $1,500 in Earned Income Credits, you receive a check for $500. In essence, you will get back all federal income taxes you paid during the year AND any additional monies represented by the Earned Income Credit overage. So, as a taxpayer, I paid over $3,000 in federal income taxes. Yes, I received a tax check of $2,000 but that's because I overpaid my income taxes (paid $5000, owe $3000). So let's not confuse the fact - I PAID taxes this year. Then there's my friend who has 3 children. He received all of his money he paid in AND received $1,000 in Earned Income Credit. He isn't alone as there are millions who are paying NEGATIVE taxes. Therefore, the $3,000 that I paid into the system did not go to support the military, or pave roads, or help hurricane victims, or fund pork barrell projects, or do anything else that the government uses taxes for. It went back into the pocket of my friend and others who received "welfare" checks from the government simply because they earn less then me and have children. Most say that it isn't welfare, it's their tax return. I say NO, it is welfare if you receive back MORE then you paid in. I do not have a problem with low wage earners with families to support getting credit so they pay zero taxes. I completely understand and agree with this philosophy. But I draw the line at giving them more money (MY money). I have one suggestion for the federal government that will increase tax revenues without making anyone pay one more dime in taxes - STOP GIVING AWAY MY MONEY AND USE IT FOR WHAT IT IS SUPPOSED TO BE USED FOR. I'd be interested in everyone's opinion. Do you pay a large tax bill every year while your neighbor receives that money back? Do you receive Earned Income Credit? If so, do you feel entitled to the extra or would you be satisfied with paying zero taxes and that's it?
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