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He claims his tax plans will help the middle class,but it would hammer single moms and single dads with dependent children the most.It will also raise taxes on grandparents and other relatives with no spouse who are raising their dependent grandchildren or dependent relatives.
For example,under his plan single people with dependents will have to claim single.
The increased child tax credits will help a small minority because after a child is 13 you can no longer claim the Child Tax Credit.
This is a disaster,but unfortunately,nobody will care because most people seem to think single and divorced people(esp women) with children deserve their fate.
He claims his tax plans will help the middle class,but it would hammer single moms and single dads with dependent children the most.It will also raise taxes on grandparents and other relatives with no spouse who are raising their dependent grandchildren or dependent relatives.
For example,under his plan single people with dependents will have to claim single.
The increased child tax credits will help a small minority because after a child is 13 you can no longer claim the Child Tax Credit.
This is a disaster,but unfortunately,nobody will care because most people seem to think single and divorced people(esp women) with children deserve their fate.
I think Trump is one of them.
And actually, you can claim the Child Tax Credit until the year your child turns 17.
Losing the HOH status unfortunately is not the only hit for single parents. See this article for details re loss of personal exemptions and the 10% bracket.
FWIW, some actual singles such as myself (retired widower renter), will see a slight benefit due to the increase in the standard deduction, and moving from the 15% bracket to a new 12% bracket.
Re-running my 2015 taxes with Trump's numbers, I would pay about $500 less tax if the changes are made. (Which may help offset some of Ryan's plans for Medicare ;-) )
47% of our population do not pay income taxes, their Adjusted Gross Income [AGI] is not high enough to pay. Many of them get money from filing taxes, due to the EIC.
If you are so wealthy that you are actually paying into Income Taxes, your AGI is well above half the workers out there.
Last edited by Submariner; 11-27-2016 at 08:51 AM..
Yes, large families and single parent families will get hit hardest if the Trump plan takes effect. I really don't think it will happen, I can't see congress going for it. The GOP plan makes more sense, and is fairer across the board.
How can you give the whole country a tax break with the exception of single parents? I guess single parents have had it too good for too long!
Are you suggesting that a child over 13 needs daycare or babysitting?
In some countries children that age are already working, married and a few are even mothers.
American children are too coddled!
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