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Mon Aug 8, 2016, 01:11 PM

 

For low income workers who pay little taxes, how does exemption of childcare help them more than

free childcare for them?

Also, why is it that the deficit or debt does not bother people anymore unless a democrat proposes them?

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Reply For low income workers who pay little taxes, how does exemption of childcare help them more than (Original post)
glennward Aug 2016 OP
etherealtruth Aug 2016 #1
lapucelle Aug 2016 #2
tonyt53 Aug 2016 #3
Yonnie3 Aug 2016 #4

Response to glennward (Original post)

Mon Aug 8, 2016, 01:15 PM

1. It doesn't and isn't intended too.

Private day care/pre-schools and nannies will be covered, without doubt.

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Response to glennward (Original post)

Mon Aug 8, 2016, 01:31 PM

2. To quote Lambert Strether...

that's a feature not a bug.

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Response to glennward (Original post)

Mon Aug 8, 2016, 01:38 PM

3. Like all tax credits you have to go the entire year to get it after you file you taxes the next year

 

this same scenario is one of the few ideas tossed out by the GOP when talking about replacing the ACA. A person has to pay for the child care services all year then get a tax credit the next year when they file their taxes. How the hell are they supposed to live the rest of the year?

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Response to tonyt53 (Reply #3)

Mon Aug 8, 2016, 01:48 PM

4. He said deduction, so it wasn't a tax credit.

It would be good for nannies and private schools, I'm sure. No benefit for low income folks, because they are not paying much in taxes.

A *refundable* tax credit (like the Earned Income Credit) would help the low income families. Like any Trump campaign statement, this may be totally different in a few hours.

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