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I'm confused is this a tax credit or a cash payment? Reduced taxation on low income families makes sense. Cash payments to families that have kids does not.
This is how child tax credit has always worked. You typically get a payment or credit per child, if your liability is less than you get a refund, they have just taken that $3600 and are giving monthly payments instead. Everyone has seen the signs on the highway, get your refund! Child credit! this wasnt Biden's idea. Its supposed to be a pro family credit. I have to call the IRS and settle a bill, I pay so much money in taxes, I swear if it wasn't for the company I would be a conservative.
How does this tax credit work? Is it actually a credit against taxes owed, so if you owe $12,000 a year, you get to offset it with the credit, up to the amount of your tax obligation, or can you get more than your tax liability?
It would be best to talk to an accountant if you want more detailed info or have specific questions. I don't personally claim it, but know it has been around for quite some time. They've mostly just changed the way it is structured.
That does seem to be what is happening. The Democrats are not only importing their future voting base but they are also buying votes. What average citizen would take the high road to vote to stop the checks from coming even if doing so would stop the eventual bankruptcy of the country?
The people that depend on the Government for their survival are not generally the types that have much plans for the future.
The Democrats will take care of you from the womb to the tomb and all you have to do is vote for them while someone else (the boogey man of the day) pays for it.
As long as doing so doesn’t involve voting for someone lacking sufficient character, the answer is someone who was raised properly.
Just what America needs, more whacko's like this nut job (1AngryTaxPayer)! By the way, what the heck does ammo and AR-15's have to do with child care tax credit?
When the money runs out and people start stealing, it is good to be able to protect ones family and home.
Is it that we just realized that people sometimes people get money back even more than what their liability was? This not news, it has only happened once for me in 01 when I had my first kid and was about to graduate college working a fulltime low paying security job, my wife couldn't work because of the high risk pregnancy, that year I got more money back than what I paid in Taxes. It has been uphill since then in terms of taxes, I payed every year.
It would be best to talk to an accountant if you want more detailed info or have specific questions. I don't personally claim it, but know it has been around for quite some time. They've mostly just changed the way it is structured.
Thanks. I personally am not impacted, as I have no children. I’m just wondering if it’s just a way for parents with children to pay less tax than other people or if they actually can get more money than they owe. If it’s the latter, it’s just additional welfare.
These children won’t even want to work much leas go
To school and play doctor or nurse to me because this country now pays people to sit at home and be lazy or mooch off the tax payers dime. There’s no incentive to be responsible , work hard or go to work period
I don't think a $300 tax credit for their parents is going to go that far. LOL
Democrats...the party of welfare...but we already knew this.
They keep pushing these welfare policies because it encourages their voters to keep making babies that will be the next generation of welfare recipients.
They have an entire generation of white single mothers, blacks, some hispanics and other demographics in a vice grip with policies like this.
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