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by pkg12 from Maryland

Last Post 476 days, 1 hour Ago


Do We Need Earned Income Credit (EIC)?
Apr 5, 2007 | 7:33 PM
Category: News
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Earned Income Credit is given mostly to encourage people who have children to work. It is given to the people with income of $1 to $38,300 and a bell-shaped curve is used to determine the amount given as credit. That is people who earn somewhere in the middle get the most amounts of credit. While single people receive the lowest amount of credit, people with two or more children receive the most amounts, which I think encourage people to have children.

So does EIC encourage people to go to work or does it encourage some people to have more children? I used to prepare taxes for others and I saw many single mothers with children were so glad that they received a huge amount from the IRS during the tax time. Many of them came back with more children the following year, which led me believe that they were some how encouraged to have children.

EIC is a great tool to encourage people to have kids, but currently do we have shortage of people in this country to continue having EIC to encourage that?

What do you think?

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Member Comments Total Comments: 5
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marylandmother read my blog view my photos
Apr 5, 2007 | 9:34 PM

Personally I do not believe it is "encouraging" people to have MORE children because the eic credit is only good for 2 children so why would someone have more children just for MONEY from eic credit if its for 2 children.....just my oppinion
destany1 read my blog
Apr 6, 2007 | 9:17 AM

I definetly don't think it encourages people to have more children. It just makes them more happier that they qualify to get a big return back.
Y3Y3 read my blog view my photos
Apr 6, 2007 | 10:02 AM

I think it would be better to make parents go to classes to be better parents, and actually know what the choices are in healthcare, schools, and other stuff, and IF they can pass the test, get to take the kids as deductions. NO passing grade (as in stupid parents) no tax break.
pkg12 read my blog view my photos
Apr 6, 2007 | 1:22 PM

Here are the EIC amounts for someone who earned $11,320.00 for the year 2006 and it is according to the person's filing status:

Single Person: $61.00
HOH, Married, or Widow(er) with one child: $2,747.00
HOH, Married, or Widow(er) with two children: $4,536.00

See any temptation here? Also, remember that this is on top of receiving WIC, food stamp, housing help, medical help, etc.

Is it encouraging to have more children? Well, may be not after having two since the EIC does not increase, but I believe it sure does from none to two. Another thing I have seen is that people sharing children among themselves who are not married. How do they do this? They file as Head of Household and each claims children separately (not the same child).

We also can say another way of the encouragement of EIC that it encourages MORE people to have children.

Here goes our tax money!
JNEAND4
Apr 7, 2007 | 11:12 PM

I personally dont think that EIC is encourging people to have kids. What about divorced/single parents where the absent parnet is doing nothing, what about people who have no college education and work for minium wage and have kids to take care of, that tax break at the end of the year really helps.
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pkg12

Significantly insignificant. Sam I am! My favorite game is “ROCK-PAPER-SCISSORS”. Don’t laugh...I am old! I did not say I am wise. I like to play this game...Sam I am! I always ask this question, “Do you want to play with me?” Would you? Do you like to play? Oh...I forgot... it’s about me! All about me! In today’s world...me...me...me... GET BACK TO YOURSELF! Sorry...here...please don’t hit me! Please... I live in Maryland. I like to write if I can. I talk to myself a lot. Most of it is nonsense! Really! We will talk. Sam I am!

Member Since: 11/3/2006


 

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