Gyroscopic Investing

http://www.washingtontimes.com/news/201 ... 2BHotsheet

The "tax" part refers to the earned income credit. If you don't know what that is, it's income redistribution in its purest form. Based on your income and the number of children you have you get a "credit" on your taxes which is really a positive payment, not a credit as most of us understand the word in tax language.

If you explained this to the voting  American public what percentage do you think would be in favor of it? I suspect it would be very small. Just goes to show how out of touch our "representatives" are.

When my wife immigrated to the U.S. on a fiance visa I had to sign a paper called an "affidavit of support" which said that if she, or her son who accompanied her, ever became a public charge I would be held liable for the money. My wife is now a citizen but my son hasn't applied yet so I still have to keep the USCIS informed of my current residence under penalty of law so they know where to find me if they need to.

If (when) this bill passes, the rest of you can join the same club. Obama will be signing the affidavit of support on your behalf and they do know where to find you.

But we have to make sure we spread the wealth around and all pay our fair share. It's about fairness, and leveling the playing field. I feel like I'm forgetting some. Oh yeah...something...something...disadvantaged.

Life's grand being a member of the productive class in the land of Social Justice.

RuralEngineer wrote: Life's grand being a member of the productive class in the land of Social Justice.

I think those of us who signed affidavits of support for legal immigrants should be able to tear them up if they pass this immigration bill.

This isn't as much of a handout as it would appear.

If an illegal immigrant is receiving this credit, it means that between them and their employer, 15.2% of their income was contributed to SS/Medicare, programs that they're very unlikely to see benefits from.

So if someone makes $30,000 per year, their payroll tax contribution is about $4,500.  The idea with the eitc is that it returns most of that for low income people with kids. 

moda0306 wrote: This isn't as much of a handout as it would appear.

If an illegal immigrant is receiving this credit, it means that between them and their employer, 15.2% of their income was contributed to SS/Medicare, programs that they're very unlikely to see benefits from.

So if someone makes $30,000 per year, their payroll tax contribution is about $4,500.  The idea with the eitc is that it returns most of that for low income people with kids.

There are a lot of state level and other federal programs that are not covered by SS taxes. Not to mention the illegal often uses a stolen social security number and also may submit a fraudulent tax forms to get refunds or exemptions they are not entitled to. This causes major grief for the legal citizen that has to clean up the mess.

Then of course there is the problem that maybe we have enough poor people in the country and we shouldn't be bending over backwards to import more of them that will be tax drains.

I don't see the reason why we should admit people that as their first act in the country is to break the laws and commit fraud. It doesn't bode well and I saw this a lot in Texas. You'd get several families of illegals that live in a single home with their kids. In Texas there is no income tax. Schools, etc. are paid for with property tax. But if you pack four families in a house the house is only taxed once, not four times (not to mention how it affects other neighbors that have to deal with it). So the kids basically get to go to school for 1/4th the cost of legitimate tax payers. And of course they need bilingual teachers, free lunches, etc. Not to mention that even with all this support they still have a very high dropout and high teen pregnancy rate which compounds the problem.

Then there were other perks. For instance, they'd use stolen social security numbers to open up an electric bill and not pay it. When the power company threatens to cut off the power a new member of the house will say the person moved, etc. and then use another stolen number to move the account and repeat the power theft. Of course this happens with lots of other things they do as well. Who pays for all that? Not to mention what happens to the person that had their social security number stolen to do all these things?

If we are importing people (its own debate) we should be bringing those in that honor their visa requirements, don't become welfare leeches, are doing jobs with skills the country needs (do we really need to import dishwashers?), not undercut the lowest wage earners in the country, and respect the country they are entering enough to honor our rules and not victimize legal residents.

craigr wrote: maybe we have enough poor people in the country and we shouldn't be bending over backwards to import more of them that will be tax drains.

I don't see the reason why we should admit people that as their first act in the country is to break the laws and commit fraud.

This is only common sense and the way many couintries, behave.