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Just lower the tax rate % if you want to lower taxes for people. Don't be selective based on criteria.
Credits and deductions cherry- pick winners and losers. Doubling the child tax credit was a bone for those on the lower side of the income scale and contributes to the percentage of earners who don’t pay federal taxes.
Unfair to childless couples? If not for my kids I would have at least a million more in my investments. My kids contribute to society. The tax credits were a great investment for the country.
Trump's tax plan is set to expire in 2025 for people (non-corporations).
Trump and the GOP would likely extend it and Biden would likely allow it to expire. It has raised taxes for some people and cut for some people but most people were hardly impacted by it. It's corporations that got the lion's share.
Why would you vote for Trump if he's the one that ADDED the tax plan you hate? Trump signed it. You would be voting to guarantee the tax plan you don't like.
The most important issue to me is my opposition to child tax credits. They are extremely unfair to the childless and those with adult children. Don't misunderstand, child tax deductions are fine, it's the tax credits that are outrageous. For this post I don't want to explain all the reasons I hate child tax credits or debate them. I am trying to decide who to vote for and I need your help with your best guess on this subject.
Some important history on this subject In the 2016 GOP primaries candidate Marco Rubio proposed doubling the child tax credit. At this point he became my worst politician in American history. When he dropped out of the race I literally cried tears of joy. I was so happy Trump was the candidate, in part because he never said anything about raising the child tax credit.
Soon after Trump was elected he passed his tax bill. The one everyone called "tax cuts for the rich". I don't mind the rich getting tax cuts, they pay most of the taxes. So I initially supported it. Then at the last second none other than Marco Rubio put in his doubling of the child tax credit. It wasn't Trump's idea but he went along with it. My blood pressure went through the roof and my hatred of Marco Rubio multiplied to the point where he is most hated person in the world today.
Fast forward to today. Joe Biden (and Kamala Harris) both promised to repeal the Trump tax cuts if elected. Normally I vote straight Republican tickets. I disagree with everything the Democrats stand for. However the idea of repealing the Trump tax cuts is exciting as hell to me because that would mean getting rid of the doubled child tax credit. This would be one of my wildest fantasies come true!
Due to tax credits a single parent with one child and an annual income of $41,000 saw a tax cut of $1,304 — a 73% reduction in federal taxes. I want her to go back to paying 73% more.
So here's my question. If Biden overturns the tax cuts will he also get rid of the doubled child tax credit which was part of the bill? Or would Biden keep the doubled child tax credits but vet rid of the rest of the bill.
If Biden would get rid of the doubled child tax credit I would vote for him, the first time I ever voted for a Democrat. OR if he would save the child tax credit but get rid of everything else in the bill I would vote for Trump as.I overall love the man both his persona and policies (other than this).
What is your best guess?
As a childless person, I understand your frustration. However, I try not to be a single-issue voter. Given the consequences of a Biden win in November, its more important than ever to focus on the big picture. Right now we have far bigger fish to fry than child tax credits.
If Biden is elected there will be many more freebies..like free college, that’s right you paid for your college loans they get to,walk away..this would bother me more than child tax credits.
I would imagine that the tax credit that single mom gets is a lot less money then taxpayers would have paid had she been on welfare for each year. That alone would make it cost effective.
As for two parent families, there are many states that still have a minimum wage of $7.25/hour (the federal minimum). For people in those areas, it can be hard to get a decent paying job that allows for raising kids.
In my area of SC, most rely on the hospitality and retail industries for their jobs. Those are not considered high income jobs, particularly this year. Many don't even have a vehicle to get to work so they have to find local jobs to where they live.
Bottom line for me - I'm much more in favor of the child tax credit than I am for reinstating the unlimited SALT deductions. But you do you and I'll do me.
If Biden is elected there will be many more freebies..like free college, that’s right you paid for your college loans they get to,walk away..this would bother me more than child tax credits.
Biden's plan is to offer 2 years of community college tuition. California already offers full time residents free community college tuition and so do a number of other states https://www.freecollegenow.org/
The most important issue to me is my opposition to child tax credits. They are extremely unfair to the childless and those with adult children. Don't misunderstand, child tax deductions are fine, it's the tax credits that are outrageous. For this post I don't want to explain all the reasons I hate child tax credits or debate them. I am trying to decide who to vote for and I need your help with your best guess on this subject.
Some important history on this subject In the 2016 GOP primaries candidate Marco Rubio proposed doubling the child tax credit. At this point he became my worst politician in American history. When he dropped out of the race I literally cried tears of joy. I was so happy Trump was the candidate, in part because he never said anything about raising the child tax credit.
Soon after Trump was elected he passed his tax bill. The one everyone called "tax cuts for the rich". I don't mind the rich getting tax cuts, they pay most of the taxes. So I initially supported it. Then at the last second none other than Marco Rubio put in his doubling of the child tax credit. It wasn't Trump's idea but he went along with it. My blood pressure went through the roof and my hatred of Marco Rubio multiplied to the point where he is most hated person in the world today.
Fast forward to today. Joe Biden (and Kamala Harris) both promised to repeal the Trump tax cuts if elected. Normally I vote straight Republican tickets. I disagree with everything the Democrats stand for. However the idea of repealing the Trump tax cuts is exciting as hell to me because that would mean getting rid of the doubled child tax credit. This would be one of my wildest fantasies come true!
Due to tax credits a single parent with one child and an annual income of $41,000 saw a tax cut of $1,304 — a 73% reduction in federal taxes. I want her to go back to paying 73% more.
So here's my question. If Biden overturns the tax cuts will he also get rid of the doubled child tax credit which was part of the bill? Or would Biden keep the doubled child tax credits but vet rid of the rest of the bill.
If Biden would get rid of the doubled child tax credit I would vote for him, the first time I ever voted for a Democrat. OR if he would save the child tax credit but get rid of everything else in the bill I would vote for Trump as.I overall love the man both his persona and policies (other than this).
What is your best guess?
When I voted for Trump, it wasn't because I thought he would do everything I wanted. I knew that he would do some things that I didn't like.
This is what the libertarians on this forum definitely don't understand. They want everything right this very second. Would be great to have a much smaller government right this very second, but that is not reality. The only other thing we can do is start by dismantling the pos in our government. From there, we take the next step. After that step, we take the third step, etc. etc.
Trump has done some things I don't like. He's done some things that I do like. The main reason for voting for him was to get rid of this bs that we've had in government for a very long time.
People saying things like "Yeah, well, 2 Republicans passed it", means nothing, because those "Republicans" were part of the establishment. (It's why you see the left liking McCain and Bush, all of a sudden.)
The other things that I want changed are not going to happen right this second. There's a much bigger issue right now than tax credits, bailouts, welfare, etc. For that reason, I'm voting for Trump again, and I'm voting in Republicans in the House and Senate who will actually support the president, not try to undermine him like a good little establishment troll. I will vote Republican governors and mayors, treasurers, school boards, even the fricken dog catcher, if I can. But, these Republicans must be actual Conservatives, not establishment RINOs.
Trump isn't even a Conservative. He's not a Republican. But, he's still draining the establishment. The Dems are facing a massive investigation into their Russian collusion hoax, right this minute. They need to be held accountable. Hillary's missing emails are not missing, afterall, and she needs to be held accountable for them.
This message must be sent to the politicians, because they have clearly forgotten that they don't own us.
That is the first thing that we need to deal with. Once that is accomplished, then we can start working on other tings like "tax credits".
Location: Free State of Florida, Support our police
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I heard a perfect one yesterday. Voting for Biden because you do not like Trump is like saying you would eat dog crap because you do not like broccoli!
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