Thursday, February 22, 2007

liabilities, taxes owed, and refunds

I have been one of the people who were in favor of getting rid of the IRS and just having a flat percentage income tax. I will even go so far as to say that I think the government rewarding people for having children is ridiculous. I have just finish a VITA (Volunteer Income Tax Assistance) course . VITA provides free tax preparation for low income people.
One of the things that struck me was credits, particularly EIC(Earned Income Credit) and CTC(Child Tax Credit). The reason these struck me is that the IRS is using these as a social program, not unlike Welfare and Foodstamps, to help lower income families save and financially better themselves. With this rationale I can support these credits, along with all of the educational credits. The reality is that I would rather see the government trying to help hard-working people get ahead, instead of throwing money willy-nilly at people who think we "OWE THEM A LIVING".

Despite the general feeling of the government not having a clue, they actually have some pretty good ideas
.

I would encourage every taxpayer to take a VITA training, it is invaluable!!!

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