I was listening to Dave Ramsey on the way home last night and a gentlemen called in about some topic that is beside the point of this post. Turns out he makes around $30K, doesn't have any taxes withheld and gets a $7K "refund" due to the earned income tax credit. Now it's not really a refund since he never paid anything, it's a gift to him from taxpayers like me and you. It's simple redistribution.
Seems to me that you shouldn't get a refund if you don't pay taxes, and your refund should never exceed the about of tax you pay if you actually pay them. Extremely simple concept.
Now I get it that $30K isn't some super great income. It does however place this gentleman in the top 1.23% of global incomes according to some quick Google research.
Can someone explain why we would be taking money from taxpayers to write someone who is very nearly a global 1 percenter a check for $7K? It seems absurd.
Seems to me that you shouldn't get a refund if you don't pay taxes, and your refund should never exceed the about of tax you pay if you actually pay them. Extremely simple concept.
Now I get it that $30K isn't some super great income. It does however place this gentleman in the top 1.23% of global incomes according to some quick Google research.
Can someone explain why we would be taking money from taxpayers to write someone who is very nearly a global 1 percenter a check for $7K? It seems absurd.
