itfitzme
VIP Member
If one qualifies on the additional child tax credit form.
If it just reduces your tax liability then it is just your money you are keeping.
Even in the case of the additional child tax credit, it it base lined against
the amount of SS and Medicare taxes one pays. It makes your cash flow with
gov't on the tax form never be less than zero.
Notice, this is different than the EIC which is a total positive cash flow
to the filer. i.e. it is money they never had to begin with...
I love how the rightwing inmates here can always concoct an argument to rationalize their own slice of the welfare pie.
Does that include those who don't get the credit?
But, if you are advocating a flat tax for all with no deductions
I am on board
Testimony on Means-Tested Programs and Tax Credits for Low-Income Households
CBO
The federal government devotes roughly one-sixth of its spending to 10 major means-tested programs and tax credits, which provide cash payments or assistance in obtaining health care, food, housing, or education to people with relatively low income or few assets. Those programs and credits consist of the following:
- Medicaid,
- The low-income subsidy for Part D of Medicare (the part of Medicare that provides prescription drug benefits),
- The refundable portion of the earned income tax credit (EITC),
- The refundable portion of the child tax credit,
- Supplemental Security Income,
- Temporary Assistance for Needy Families,
- The Supplemental Nutrition Assistance Program (SNAP, formerly called the Food Stamp program),
- Child nutrition programs,
- Housing assistance programs, and
- The Federal Pell Grant Program.
Truth is hard for the left
In fact, it is their worst enemy
It should range from 10% to 90%, depending on the state of the free market economy. The problem is that you not only do you ignore facts when they aren't what you want, you can't interpret them correctly anyways.