Quote:
Originally Posted by TAXMASTER
ok, don't make an initial judgement of me by my calling name. i am a cpa and i do make my living by people filing tax returns. i see such a tremendous amount of waste of our tax dollars. i see lower income people that scate the rules so they can get earned income credit on their tax return. I have seen people making 10,000 dollars a year and get 6,500 tax refund because of this. the earned income credit started out as a reimbursement to low income people that had children for the social security tax withheld on their paycheck. to a large amount of people, it is being spent on vacations, large drug purchases, cars, boyfriends cars, and everything else that doesn't help the children in any way possible.
the earned income credit is only good for 1 or 2 children so when someone has more than 2 children, they let cousins or whoever claim those children so they can get the credit illegally. a lot of these people work underground, get food stamps, live in government housing, get their medical paid for plus get their $6,000 refund every year and live better than i do.
Namaste'
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You hit the nail on the head...
The Middle Class pays all the taxes for the upper and lower income.
From my calculations, to run our Government on a Flat Tax system after dumping the Fed Reserve interest payments breaks down this way.
0-50K - no taxes or refunds
51-100K - 5% of Income
101-250K - 10% of Income
251-1B - 15% of income
1B+ - 20% of income
At the end of the year, a computer automatically calculates what is needed for the following years budget, remaining funds are paid back as a percentage of what was paid in by everyone.
someone earning $10,000 a year with 2 kids...
needs to get a part time job to go on that trip...