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That's all we need. More incentive for poor people to pop out babies.
I do fully support Trump's proposed plan to eliminate mortgage interest deductions on second homes. Has always only benefited the wealthy. And I have a second and even third home!
Daycare costs $2000+ a month for an infant in my area. It's not just the poor that are struggling to pay that - it's anyone but the wealthy. Daycare cost is a huge reason why many middle class families are delaying having children, or not having them at all.
"rebates as high as $1,200 per year for eligible families." Not really enough incentive to have kids for that low amount imo. You never know.
Well intentioned but reacting too, and treating a symptom. Too many low paying jobs. Inflation has outstripped wages.
Right, so in my area, that $1,200 rebate would cover just over one month of childcare. You'd still be on the hook for around $11,000/year. And I don't even live in a particularly high COL city.
I can see the abuse already. Pay Grandma $1K/month to take care of your kids and get the deduction and she gives the money back at the end of the year because family can give $10K/year tax free.
Right, so in my area, that $1,200 rebate would cover just over one month of childcare. You'd still be on the hook for around $11,000/year. And I don't even live in a particularly high COL city.
Not uncommon in my neck of the woods to pay $25,000+ for in home child care, not necessarily a live in.
How does this plan differ from the current Child Care Tax Credit that's out there? One way I can see is that the income level is higher.
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