JQuery :: 'return False' In Callback Of Click Event Not Working?

I have the following code

Code:
$('a').live( 'click', doIt() ) ;
...
function doIt() { return false }

However, the 'return false' does nothing. If I click a link the event is not stopped and the page it points to is loaded!

So, what could I do, given the above code, to stop the click event ?

UPDATE: I inspected jQuery object and changed doIt to

Code:
function doIt() {
$.Event.preventDefault();
$.Event.stopPropogation() ;
}

Does not produce errors, but didn't stop the event, but I feel I'm getting closer