Child tax credit

[1jkw]

4 hours ago, racer254 said:

 

President Barack Obama’s administration racked up nearly as much debt in eight years than in the entire 232-year history of the country before he took office. He entered with $10.6 trillion in total debt and left with the country owing $19.9 trillion. That’s an average tab of $1.16 trillion a year.

Under President Donald Trump, the debt also has climbed. The $2.06 trillion increase works out to about $991 billion a year, or slightly less than the pace Obama had set.

 

Trump inherited 4.8 UE and record emerging economies.  Obama about 10% UE a world economy in collapse and 2 wars.

[racer254]

The ARP has made revisions to the child tax credit that turn it into a de facto child allowance: Virtually all U.S. parents will receive a $3,600 payment from the government for each child age 5 and under and $3,000 for each kid between the ages of 6 and 17. These payments will be dispensed in periodic installments, functioning less like a tax credit than a basic-income program.

The child tax credit changes are set to expire after a single year....BY DESIGN.  To get votes for more BIG GOVERNMENT.  Democrat MANIPULATION.

 

[racer254]

Here is an Idea.  Instead of a bigger child tax credit, why not take less out of your income taxes per dependent.  I can guess what the first response to this will be...."what about those that don't have a job"  LOL

[Zambroski]

32 minutes ago, racer254 said:

Here is an Idea.  Instead of a bigger child tax credit, why not take less out of your income taxes per dependent.  I can guess what the first response to this will be...."what about those that don't have a job"  LOL

Tax refunds are "tax bonuses!!".  I mean....wtf?  Taxation is theft...and that's fact.

[Rigid1]

2 hours ago, racer254 said:

The ARP has made revisions to the child tax credit that turn it into a de facto child allowance: Virtually all U.S. parents will receive a $3,600 payment from the government for each child age 5 and under and $3,000 for each kid between the ages of 6 and 17. These payments will be dispensed in periodic installments, functioning less like a tax credit than a basic-income program.

The child tax credit changes are set to expire after a single year....BY DESIGN.  To get votes for more BIG GOVERNMENT.  Democrat MANIPULATION.

 

So I'll get a the 3k tax credit next year, if I choose to get the dispersement, it's starts July 2021 and last payment is December 2021 with a max of $300/mo.. so in that 6 month span I will collect $1800, Which is deducted from my 3k credit, so I would get back in my taxes $1200,  the remainder of the 3k..

Or I can not take the monthly payments and get the full 3k..

Is that simple enough for you?? FFS a child tax credit has been going on for fucking decades, it gets increased by every president a few hundred bucks during their term..

 

You have any idea what a month of daycare costs at a legit facility for an toddler??

Hopefully that $3600 would cover 6 weeks out of the 52 in a year.. SMH..

[racer254]

16 hours ago, Rigid1 said:

So I'll get a the 3k tax credit next year, if I choose to get the dispersement, it's starts July 2021 and last payment is December 2021 with a max of $300/mo.. so in that 6 month span I will collect $1800, Which is deducted from my 3k credit, so I would get back in my taxes $1200,  the remainder of the 3k..

Or I can not take the monthly payments and get the full 3k..

Is that simple enough for you?? FFS a child tax credit has been going on for fucking decades, it gets increased by every president a few hundred bucks during their term..

 

You have any idea what a month of daycare costs at a legit facility for an toddler??

Hopefully that $3600 would cover 6 weeks out of the 52 in a year.. SMH..

I fucking understand what it is.  I am trying to explain to you the bigger picture.  After this one year "bonus" is done, will you vote for the people that helped to get rid of it?  Or cheer for it to stay in place?  Free Money!!!!

[Rigid1]

3 minutes ago, racer254 said:

I fucking understand what it is.  I am trying to explain to you the bigger picture.  After this one year "bonus" is done, will you vote for the people that helped to get rid of it?  Or cheer for it to stay in place?  Free Money!!!!

So it's a one year bonus?? And you "understand it" How come I've gotten a child tax credit for the past 17 years in a row my daughter has been alive??

FFS

[racer254]

2 minutes ago, Rigid1 said:

So it's a one year bonus?? And you "understand it" How come I've gotten a child tax credit for the past 17 years in a row my daughter has been alive??

FFS

LOL.  DUDE, everyone understands that it has been going on for a while, and I am sure you claim her as a dependent.  But it's about the changes that are happening to it and why this current change expires.

Edited March 13, 2021 by racer254

[Rigid1]

33 minutes ago, racer254 said:

LOL.  DUDE, everyone understands that it has been going on for a while, and I am sure you claim her as a dependent.  But it's about the changes that are happening to it and why this current change expires.

The only change is you can choose to have 6 monthly payments from July to December which that dollar amount will be deducted from the year end child tax credit..So there is no "bonus" as you claim.. it's not like you're getting 6 monthly payments totalling $1800 and then getting another 3k in with your taxes...Either way one chooses to get it, it's the exact same dollar amount..I myself am taking the lump sum at the end of the year as I always have. I like that better..

I'm guessing you don't have kids that would qualify you for the tax credit??

[racer254]

Just now, Rigid1 said:

The only change is you can choose to have 6 monthly payments from July to December which that dollar amount will be deducted from the year end child tax credit..So there is no "bonus" as you claim.. it's not like you're getting 6 monthly payments totalling $1800 and then getting another 3k in with your taxes...Either way one chooses to get it, it's the exact same dollar amount..I myself am taking the lump sum at the end of the year as I always have. I like that better..

I'm guessing you don't have kids that would qualify you for the tax credit??

It was $2000/child UNDER 17 before.  Here are the changes, because you are not being entirely honest about it.

• Credits increase from $2,000 to $3,600 per child under 6 and $3,000 for children older than 6.
• The credit would also be fully refundable.
• Money from the credit will be split: Half will be paid through the tax refund and the other half will be paid monthly from July to December.
• There is no $2,500 earnings floor.
• Families in Puerto Rico can receive the credit.

[Rigid1]

45 minutes ago, racer254 said:

It was $2000/child UNDER 17 before.  Here are the changes, because you are not being entirely honest about it.

• Credits increase from $2,000 to $3,600 per child under 6 and $3,000 for children older than 6.
• The credit would also be fully refundable.
• Money from the credit will be split: Half will be paid through the tax refund and the other half will be paid monthly from July to December.
• There is no $2,500 earnings floor.
• Families in Puerto Rico can receive the credit.

What did I lie about? 

[Mainecat]

21 hours ago, racer254 said:

The ARP has made revisions to the child tax credit that turn it into a de facto child allowance: Virtually all U.S. parents will receive a $3,600 payment from the government for each child age 5 and under and $3,000 for each kid between the ages of 6 and 17. These payments will be dispensed in periodic installments, functioning less like a tax credit than a basic-income program.

The child tax credit changes are set to expire after a single year....BY DESIGN.  To get votes for more BIG GOVERNMENT.  Democrat MANIPULATION.

 

And the Corp tax cuts Trump gave Corp America never end.

[SayatodaU.P.eh?]

On 3/12/2021 at 8:24 AM, Rigid1 said:

Dude, it's just the child tax credit that's been there for decades and increased over time by all presidents. I think you're confusing the additional money added to UE benefits with the increase in the child tax credit which isn't taking effect until July of 2021 if you choose the monthly payments or in 2022 when you file your 2021 taxes..This has nothing to do with the family in your neighborhood remodeling their house as it hasn't taken place yet..Or maybe the family in your neighborhood came I to some money due to a family member passing away?? Something along those lines

Pretty sure all of the spending that I’m seeing a lot of people in my area do, during a pandemic, isn’t child tax credit money and that is not what I meant. You apparently don’t live in an area where a LOT of people were making MORE money by NOT working last year than they would if they worked. Then, these same people were blowing money like it was going out of style. I’m sure most of it was via credit but what ever. 

22 hours ago, Rigid1 said:

So I'll get a the 3k tax credit next year, if I choose to get the dispersement, it's starts July 2021 and last payment is December 2021 with a max of $300/mo.. so in that 6 month span I will collect $1800, Which is deducted from my 3k credit, so I would get back in my taxes $1200,  the remainder of the 3k..

Or I can not take the monthly payments and get the full 3k..

Is that simple enough for you?? FFS a child tax credit has been going on for fucking decades, it gets increased by every president a few hundred bucks during their term..

 

You have any idea what a month of daycare costs at a legit facility for an toddler??

Hopefully that $3600 would cover 6 weeks out of the 52 in a year.. SMH..

So why should people having children allow them to pay less in taxes than people who don’t have children? Honest question. It’s not my fucking problem that daycare is so expensive. I didn’t have children so that I didn’t have bills like that, well that’s one of many reasons actually but apparently I’m the idiot and am missing out on better tax breaks, etc. How about the portion of my property taxes that constantly gets hiked to pay for public schools that mean literally nothing to me? It is what is it, as far as I am concerned, but there is two sides to this for sure, IMO. 

Edited March 13, 2021 by SayatodaU.P.eh?

[Sleepr2]

3 hours ago, Mainecat said:

And the Corp tax cuts Trump gave Corp America never end.

letting someone keep more of their money through less taxation is not giving them anything.

 

A MarketWatch analysis of IRS statistics — which shows tax-filing figures through late November 2019 — revealed:

 

• Americans had $1.552 trillion in tax liabilities last year, compared with $1.619 trillion in total tax liabilities at the same point a year prior. That’s a drop of 4% on a year-over-year basis.

 

• The double-digit percentage decreases in average tax liability started with a 12.5% drop for people making $15,000 to $20,000 a year. Double-digit percentage reductions in liability continued for people making $25,000 to $30,000 (down 11.2%) through $100,000 to $200,000 (down 10.96%).

 

• Taxpayers making between $40,000 and $50,000 a year had the largest fall in average tax liability, a 14.5% drop, while high-end households making between $250,000 and $500,000 had the second largest decrease, with a 14.4% liability reduction.

 

• Taxpayers making at least $1 million had a 4.3% decrease in average tax liability.

 

Across income groups, most Americans got a tax cut under the 2017 law, according to the independent Tax Policy Center.

[Rigid1]

33 minutes ago, SayatodaU.P.eh? said:

Pretty sure all of the spending that I’m seeing a lot of people in my area do, during a pandemic, isn’t child tax credit money and that is not what I meant. You apparently don’t live in an area where a LOT of people were making MORE money by NOT working last year than they would if they worked. Then, these same people were blowing money like it was going out of style. I’m sure most of it was via credit but what ever. 

So why should people having children allow them to pay less in taxes than people who don’t have children? Honest question. It’s not my fucking problem that daycare is so expensive. I didn’t have children so that I didn’t have bills like that, well that’s one of many reasons actually but apparently I’m the idiot and am missing out on better tax breaks, etc. How about the portion of my property taxes that constantly gets hiked to pay for public schools that mean literally nothing to me? It is what is it, as far as I am concerned, but there is two sides to this for sure, IMO. 

Don't have young kids too right??

[SayatodaU.P.eh?]

13 minutes ago, Rigid1 said:

Don't have young kids too right??

I’m gonna guess that you didn’t even read the entire post you quoted. 

[Rigid1]

Just now, SayatodaU.P.eh? said:

I’m gonna guess that you didn’t even read the entire post you quoted. 

No, I totally did, where I lived, What I see ., all that stupid shit,..You obviously don't know anything about where I live and what I see day to day,  Trust me, I see a much more real world than you could imagine..

 

[SayatodaU.P.eh?]

46 minutes ago, Rigid1 said:

No, I totally did, where I lived, What I see ., all that stupid shit,..You obviously don't know anything about where I live and what I see day to day,  Trust me, I see a much more real world than you could imagine..

 

Still trying to figure out why you think your reality is more valid than mine but whatever. All I am talking about is what I am seeing where I am. A lot of other people that live in areas like mine are seeing the same thing. Good for you I guess?

Edited March 13, 2021 by SayatodaU.P.eh?

[Angry ginger]

No one should get more government money just because they had more sex trophies 

[racer254]

There are a few adults in this country that understand that having children is a financial burden.   Unfortunately those responsible people are the ones that don't get rewarded.

[racer254]

23 hours ago, Rigid1 said:

The only change is you can choose to have 6 monthly payments from July to December which that dollar amount will be deducted from the year end child tax credit..So there is no "bonus" as you claim.. it's not like you're getting 6 monthly payments totalling $1800 and then getting another 3k in with your taxes...Either way one chooses to get it, it's the exact same dollar amount..I myself am taking the lump sum at the end of the year as I always have. I like that better..

I'm guessing you don't have kids that would qualify you for the tax credit??

 

22 hours ago, Rigid1 said:

What did I lie about? 

The bold is not the only change that you claim.  That is why I posted the changes.

[SayatodaU.P.eh?]

21 minutes ago, racer254 said:

There are a few adults in this country that understand that having children is a financial burden.   Unfortunately those responsible people are the ones that don't get rewarded.

Why is the financial burden of raising kids anyone else’s responsibility other than the parents of those kids? That’s my point. 

[racer254]

6 minutes ago, SayatodaU.P.eh? said:

Why is the financial burden of raising kids anyone else’s responsibility other than the parents of those kids? That’s my point. 

I 100% agree with you.  And like always, the responsible people get shit on.  BTW, when this child tax credit goes up, does that effect child support?  BTW, just remember now that the low income threshold is no longer 2500 dollars, how many incarcerated people will now be eligible?

[Zambroski]

52 minutes ago, racer254 said:

There are a few adults in this country that understand that having children is a financial burden.   Unfortunately those responsible people are the ones that don't get rewarded.

Well stated.  When having children and income are ties into the same conversation, well.....welcome to a welfare nation.

29 minutes ago, SayatodaU.P.eh? said:

Why is the financial burden of raising kids anyone else’s responsibility other than the parents of those kids? That’s my point. 

Yep.  We know people that are amazed we waited so long to have our ONE child.  We've been called "selfish" for wanting to establish careers and reach financial goals before taking that massive responsibility.  I remember one lady that I told it was planned and she looked at me and smiled and said, "Awww...it was a planned pregnancy...how adorable."  I just giggled.

Personal responsibility...pass it on.

[Matt]

22 hours ago, Mainecat said:

And the Corp tax cuts Trump gave Corp America never end.

Family of 4 we're close friends with are getting over 5k stimulus. She works 2 days a week as a physical therapist and he drives the ball shagger on the golf course. They have 3 vehicles all newer than my wife's 2017, live in a 5k Sq ft newer home, have a 2021 RV... They'll tell you themselves they don't need this...