...And, do you yourself have qualifying minor child(ren)?
2006-10-19 08:56:17 · 12 answers · asked by z 3 in Business & Finance ➔ Taxes ➔ United States
Jazz - not everyone can get the child tax credit, since it is phased out when your adjusted gross income exceeds a certain amount.
I have three children, and I don't believe there should be a child tax credit or an earned income credit.
2006-10-19 09:04:16 · answer #1 · answered by jinenglish68 5 · 0⤊ 0⤋
I'm OK with the idea of a child tax credit. And yes, it does phase out at higher income levels, which seems fair.
I raised 5 kids back before there was a child tax credit, and no, don't have any qualifying children now and haven't since this credit came into being. Some of my children are eligible to receive the credit for THEIR kids.
2006-10-19 20:12:01 · answer #2 · answered by Judy 7 · 0⤊ 0⤋
No. Personally I like the idea of a flat tax without deductions and credits. You make $10 or $10Million dollars, then you pay the same percentage of your income as the next guy.
However, since a flat tax has little to no likelihood of being created, I think that within our current tax system people who have kids should not get any more just for having kids. I think there are plenty of deductions available for the expenses of having kids (medical, daycare,etc).
2006-10-19 17:04:43 · answer #3 · answered by nova_queen_28 7 · 1⤊ 0⤋
Yes. Today's children are tomorrow's adults (just like us?) There should be a small tax relief to defray the expenses of bringing up children. Of course that does not make parents act responsibly but society as a whole has failed in that respect and it is wrong to blame the tax system.
I have no children and am too old to have any.
2006-10-19 19:49:47 · answer #4 · answered by skip 6 · 0⤊ 0⤋
No, there should not be a child tax credit, or any other type of credits that our "dicktators" have saddled us with.
Our lawmakers have prostituted themselves to every special interest group out there. No wonder the average person can no longer fill out his/her own tax return.
We should have a flat rate income tax, so that everyone pays equally, according to their income, as well as a national sales tax on purchases (clothing and groceries excluded).
2006-10-19 16:05:00 · answer #5 · answered by Michael 3 · 0⤊ 0⤋
mam - there is a child tax credit in addition to EIC (earned income credit) EIC is for lower income families - but everyone that has an eligible dependent child can get the child tax credit.
Trust me I am an accountant
2006-10-19 15:59:12 · answer #6 · answered by Jazz 4 · 0⤊ 0⤋
NO. I only produce children I can afford.
Why should the country reward people for producing children they can not afford?
The behavior has been rewarded and the result is more poor children.
Call me uncompassionate if you want, I don't care.
But there is NOTHING compassionate about producing children without the financial means of caring for them and then expecting everyone else to foot the bill.
.
2006-10-19 16:03:25 · answer #7 · answered by Zak 5 · 1⤊ 0⤋
I don't know since I'm phased out. We are penalized for making more. We are also in AMT which is maddening, let's discuss THAT!
Do you really think it encourages people to have more kids? Don't you think that those kind of people might be unaware of the credit (to put it nicely)?
2006-10-19 16:07:40 · answer #8 · answered by porkchop 5 · 0⤊ 0⤋
No, I think there should be a tax on having a kid. For all the damage they cause while growing up, and constanly getting into trouble.
2006-10-19 15:59:30 · answer #9 · answered by Matsukaze 3 · 1⤊ 0⤋
People should be encouraged to have fewer children, not more.
There is nothing better you can do for the Earth than not have a kid.
Putting one more person on the planet wipes out much more than a lifetime of recycling, buying hybrid cars, etc.
2006-10-19 16:01:45 · answer #10 · answered by Jay 6 · 0⤊ 2⤋