Top Economic Adviser: 'Of Course' Recession Isn't Over

"I'm not going to say the recession is over until the unemployment rate is down to normal levels."

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[shalcall]

gemini067, you don't have to believe me. Go to the Social Security website. Look up EIC and look at the maximum you can receive and maximum eligibility. FICA (which includes social security and medicare) will always exceed EIC refunds.

As it is, a single person who works 40 hours/wk at minimum wage is NOT eligible for EIC because you make too much.

You don't know what you're talking about. I do, because for years I worked in payroll.

[gemini067]

Shallow Social security and FICA are not taxes, also you stated your mother had two children, which gives her a larger EIC return, and also worked more than 40 hrs per week, more return. Many people, myself included, worked more than 40 hrs, whenever possible. Do you support yourself, or some ones deduction.

[shalcall]

Holy shit, you don't know wtf you're talking about. STOP WATCHING FOX NEWS AND GO LEARN SOMETHING TRUE.

The maximum amount you can be refunded from EIC will never come close to what you pay in Social Security and Medicare. If you have no kids, the maximum you can get is $457 and that's if you make $13,440 or less. On $13,440 you pay $1,028.16 in social security and Medicare taxes.

If you make $13,441 and you have no kids, you don't qualify for EIC.

[gemini067]

shallow; Do you know anything about social security, or medicare, and if you really want to learn check EIC, earned income credit, it is a tax "rebate" for taxes NOT paid, your mother would recieve a much larger amount than was withheld, but why should she not pay taxes, who pays the armed forces, medicaid, the government, the highways, police, etc,etc.. You don't seem to be too bright.

[shalcall]

Wait, single mothers don't work? It's very rare? You obviously have lead a privileged life. My mother raised 2 kids on her own and worked far more than 40 hours per week.

Secondly, you idiots keep forgetting FICA. She would get a rebate for any federal taxes but she still has to pay social security and medicare. SHE PAYS TAXES. What many conservatives just don't get is that no one who works gets away without paying some taxes.

[gemini067]

shallow; A single mother working, very rare, 40 hrs a week at minimum wage, below poverty level, would pay NO taxes, and, depending on the number of deductions, would, in fact, recieve a tax rebate, though not having paid a withholding tax, but you are penalizing a person because they are rich, through family, hard work, or just luck, if so, why not a tax on people with brown eyes, or blonde hair, its called DISCRIMINATION. I don't think very much does make sense to you, sorry.

[shalcall]

If you mean a flat tax rate across the board, I'm totally against it. $1 to a man that makes minimum wage is worth much much more than that same $1 is worth to a millionaire.

A single mother working 40 hours per week at minimum wage is already below the poverty line in the U.S. Now you want to increase her taxes, while decreasing the taxes on the rich?

Doesn't make too much sense to me.

[gemini067]

shallow; If you are such a liberal ass, why haven't you said anything about a FLAT TAX, are you pro or con? Tax rates are NOT equal, I am supposing you are a democrat, therefore you, like most in Obama,s administration, do not pay taxes.

[shalcall]

My examples are based on real world occurrences. How do you think McDonalds became what it is today? When it started, they had a chefs that made burgers, fries, etc. etc.

To make more money, they hired inexperienced workers that they could pay minimum wage, and showed one how to flip a burger, another how to put it on a bun, and another how to put in a box. 3 workers to do the work of 1 chef, and they cost less, and increase profits.

Same thing happened in the auto industry.

[shalcall]

You said, "it now takes both parents working full time, more hours a week to make it." That implies you're talking about wages.

The wage rate has decreased with respect to inflation. If you take inflation into account, the wage rate has gone down. So the fact that it take 2 earners to provide for a family has more to do with decreased wages than it has to do with decreased purchasing power.