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Politics : Formerly About Advanced Micro Devices

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To: RetiredNow who wrote (772664)	3/3/2014 1:04:31 PM
From: i-node	Read Replies (1) of 1574873

>> Buffett, the second richest man in the United States behind only Bill Gates, suggests a different way to help the working poor. >> He argues for raising the Earned Income Tax Credit, which gives tax money back to those earning below a certain income level. This is the Republican approach and it is a crock of shit. This provision is the most abused provision of the Internal Revenue Code -- FAR WORSE THAN, FOR EXAMPLE, THE SO-CALLED "CARRIED INTEREST" PROVISION. And it has been for decades. But today it is far worse. My son told me yesterday of a couple he knows who have three kids. They're co-habitating, both either unemployed or minimum wage during 2013. And they just got combined tax refunds of $9,000. Anyone who has done significant individual tax work immediately knows what's happening there and it is blatantly illegal, but they get away with it year after year. I understand why Buffett and the Republicans think it is better than other welfare measures, but it is a refusal to acknowledge the EITC's status as a failed social program the government is literally incompetent to operate. Yet another.

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