Is the Current tax code flawed? My client received an Earned income tax credit of $5,031? Is this outrageous or not?
I can't believe it when I see a taxpayer earning $25,000 with 3 kids and getting an earned income tax credit of $5,031 and having to pay no federal income taxes, and on top of that the Government pays another $800 (Making work pay credit).
This is crazy! The middle class folks are subsidizing these folks and encouraging these guys to stay at lower income brackets.
I for one say eliminate Earned Income Tax Credit once and for all, and cut the deficit!