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Originally Posted by smooth
I will add, however, that those ~$2k are recent benefits from Bush's tax cuts, correct?
It's not as though working families have been getting more than they put in all this time, to my understanding.
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Correct.
In the case above, without the child tax credit, the final tax burden would be next to nothing (or nothing) with all/most of the income taxes paid being returned.
It does go to show, that if the income went down below $35K, then the EIC would apply and you would then get back more than was paid--and the EIC is not part of Bush's tax cuts.
So, as income goes down, the tax burden goes down, and the person/family has a very good chance of getting back more in a refund than was paid in income taxes.
This is why I discount argument related to "tax burdens" on people/families making roughly $35K or less.
The burden gets real hefty after $115K--I know some people that do whatever they can to keep their taxable income below $115K, because it is a big jump in tax rates if you make over $115K.