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SMITHFIELD, N.C. (CNNMoney) -- The Wards couldn't believe the news when their tax preparer called to tell them they're getting a $54,000 refund this year.
Thelma Ward was speechless. She had to hand the phone to her husband so she could dance around the living room floor in shock.
So whose money do you think was supporting these kids before they were adopted? Isn't it better to have them grow up as part of a family rather than in foster care or worse yet, some type of institution? I don't mind my tax dollars helping out familes who are willing to adopt otherwise unwanted children if it means that it might give these kids a chance at a decent life.
Hmmm...that's interesting about the foster to adopt program being eligible for the credit regardless of expenses. We adopted our two children and did qualify for the credit but we had to prove expenses worth that amount.
Honestly, despite having taken advantage of the credit myself, there is something about it that bugs me. It reeks a little of social engineering by the government to my libertarian sensibilities. It is always preferable to have foster kids become a permanent part of a family, however...I don't know I guess, its a hard question.
So whose money do you think was supporting these kids before they were adopted? Isn't it better to have them grow up as part of a family rather than in foster care or worse yet, some type of institution? I don't mind my tax dollars helping out familes who are willing to adopt otherwise unwanted children if it means that it might give these kids a chance at a decent life.
Not the government's place. If the Gov't didn't try to (Inefficiently) be the 'Nanny state' (I mean that in all it's forms, not just kids) then there would be many more dollars to be given to chairity's. I work in Emergency management. It's simple economics that the NGO's are more efficient. If they aren't they collect fewer Dollars and more efficient charities get the money.
Hmmm...that's interesting about the foster to adopt program being eligible for the credit regardless of expenses. We adopted our two children and did qualify for the credit but we had to prove expenses worth that amount.
That's only for certified special needs kids (e.g., Title IV-E) - kids who need lots of ongoing care or therapy. You can adopt kids from foster care without severe emotional or physical problems that aren't special needs and the tax credit for those adoptions is based on actual expenses just like private adoptions. I'm pretty sure you can even have an international adoption of a child that is certified special needs.
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Originally Posted by WannaliveinGreenville
I can see alot of beaten, sad, adopted kids with greedy parents coming out of the woodwork now....
You do realize that the credit has been there for many years, and it just happens to be refundable beginning in 2010? Previously you could use the credit to offset your current year tax liability and then carry the unused portion forward until it's all used up. The only thing that has changed here is a little time value of money.
I work in Emergency management. It's simple economics that the NGO's are more efficient. If they aren't they collect fewer Dollars and more efficient charities get the money.
Excuse my laughter at that one. The Red Cross is one of the most bloated, hugely inefficient organizations around, and a lot of the other major players don't do much better. And we aren't even getting to the United Way yet, in either national or local forms.
As for the original story, one of the kids was special needs, and I wouldn't be surprised if some of the others were as well. It's not like it's easy to place non-infant AA children even when they're healthy, so I wouldn't be surprised if the kids in question would normally be considered to be 'normally unadoptable' by the state, and that's why there's a policy there to subsidize the kids even after formal adoption.
There are any number of white families that have been heralded as heroes in regional and national press for opening homes and hearts to multiple special needs kids. It's not explicit in the story, but I suspect that's what happened with the family here.
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