For those with children, $48k and less

[Care4all]

EVERY day, at least 10 times a day, an ad has been running on tv, for people making less than $48k a year to please remember to file for the Earned Income Credit....

the hubby and i have no children and earn literally nothing so i thought i would see if we, for a change, would qualify for a tax credit of any sort...i mean, we brought in less than half of that $48k one can make and still get an EIC credit if they have a child?

BUTTTTTTTTT, don't qualify for the credit if a childless couple makes more than $20, 500...the couple with a child can get a tax break while income is $48k, the couple without $20.5k is the cutoff????????? IS that really fair?

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

 

[goldcatt]

$28,000 a year more to raise child? Kids are expensive, but not that expensive. Or at least, they don't have to be and shouldn't be.

 

[JenyEliza]

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

You obviously have not ever tried to feed, clothe and raise a child.

It is VERY expensive, even if you clip coupons, shop thrift, don't enroll them in tons of extracurricular activities etc.

When my twins were in daycare, I was paying $1,200/month for the two of them. I also had a mortgage to pay, food to buy, etc etc.

Currently my twin teenagers are eating us out of house and home and outgrowing their clothes at alarming rates.

Yes. It really DOES cost that much to raise children.

Have one and find out for yourself---you go girl, get that EIC.

 

[Douger]

EVERY day, at least 10 times a day, an ad has been running on tv, for people making less than $48k a year to please remember to file for the Earned Income Credit....

the hubby and i have no children and earn literally nothing so i thought i would see if we, for a change, would qualify for a tax credit of any sort...i mean, we brought in less than half of that $48k one can make and still get an EIC credit if they have a child?

BUTTTTTTTTT, don't qualify for the credit if a childless couple makes more than $20, 500...the couple with a child can get a tax break while income is $48k, the couple without $20.5k is the cutoff????????? IS that really fair?

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

I can get you a 3 year old Haitian male, with recent vaccines, for $150.

 

[Vel]

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

You obviously have not ever tried to feed, clothe and raise a child.

It is VERY expensive, even if you clip coupons, shop thrift, don't enroll them in tons of extracurricular activities etc.

When my twins were in daycare, I was paying $1,200/month for the two of them. I also had a mortgage to pay, food to buy, etc etc.

Currently my twin teenagers are eating us out of house and home and outgrowing their clothes at alarming rates.

Yes. It really DOES cost that much to raise children.

Have one and find out for yourself---you go girl, get that EIC.

Yes, children are very expensive but, why should childless couples be required to subsidize someone else's desire to procreate?

 

[MIPS]

EVERY day, at least 10 times a day, an ad has been running on tv, for people making less than $48k a year to please remember to file for the Earned Income Credit....

the hubby and i have no children and earn literally nothing so i thought i would see if we, for a change, would qualify for a tax credit of any sort...i mean, we brought in less than half of that $48k one can make and still get an EIC credit if they have a child?

BUTTTTTTTTT, don't qualify for the credit if a childless couple makes more than $20, 500...the couple with a child can get a tax break while income is $48k, the couple without $20.5k is the cutoff????????? IS that really fair?

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

Welcome to the progressive system income taxation.

 

[Care4all]

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

You obviously have not ever tried to feed, clothe and raise a child.

It is VERY expensive, even if you clip coupons, shop thrift, don't enroll them in tons of extracurricular activities etc.

When my twins were in daycare, I was paying $1,200/month for the two of them. I also had a mortgage to pay, food to buy, etc etc.

Currently my twin teenagers are eating us out of house and home and outgrowing their clothes at alarming rates.

Yes. It really DOES cost that much to raise children.

Have one and find out for yourself---you go girl, get that EIC.

does 1 child really cost you $ 28,000 MORE a YEAR, IN ADDITION to what it takes for you and your partner to survive? I think the answer is probably NO, it does NOT cost 28k a year EXTRA to support a child...

Honestly?28K more a year for ONE CHILD, yet 90 million americans with families make less than 21k a year, as another thread pointed out?

And my husband and I did NOT CHOOSE to not have children together, we have been UNABLE to have children together, we/I am barren...not by choice.... but should we be punished with higher taxes for it, while someone making double the money we live off of get a several thousand dollar tax credit for the SS taxes they paid in, via the EIC credit, just because they have a child?

Sorry....i have been working on our tax return....i hate doing them...it makes me a sour puss...

care

 

[dilloduck]

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

You obviously have not ever tried to feed, clothe and raise a child.

It is VERY expensive, even if you clip coupons, shop thrift, don't enroll them in tons of extracurricular activities etc.

When my twins were in daycare, I was paying $1,200/month for the two of them. I also had a mortgage to pay, food to buy, etc etc.

Currently my twin teenagers are eating us out of house and home and outgrowing their clothes at alarming rates.

Yes. It really DOES cost that much to raise children.

Have one and find out for yourself---you go girl, get that EIC.

does 1 child really cost you $ 28,000 MORE a YEAR, IN ADDITION to what it takes for you and your partner to survive? I think the answer is probably NO, it does NOT cost 28k a year EXTRA to support a child...

Honestly?28K more a year for ONE CHILD, yet 90 million americans with families make less than 21k a year, as another thread pointed out?

And my husband and I did NOT CHOOSE to not have children together, we have been UNABLE to have children together, we/I am barren...not by choice.... but should we be punished with higher taxes for it, while someone making double the money we live off of get a several thousand dollar tax credit for the SS taxes they paid in, via the EIC credit, just because they have a child?

Sorry....i have been working on our tax return....i hate doing them...it makes me a sour puss...

care

Take a hike--you'll feel better

 

[goldcatt]

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

You obviously have not ever tried to feed, clothe and raise a child.

It is VERY expensive, even if you clip coupons, shop thrift, don't enroll them in tons of extracurricular activities etc.

When my twins were in daycare, I was paying $1,200/month for the two of them. I also had a mortgage to pay, food to buy, etc etc.

Currently my twin teenagers are eating us out of house and home and outgrowing their clothes at alarming rates.

Yes. It really DOES cost that much to raise children.

Have one and find out for yourself---you go girl, get that EIC.

does 1 child really cost you $ 28,000 MORE a YEAR, IN ADDITION to what it takes for you and your partner to survive? I think the answer is probably NO, it does NOT cost 28k a year EXTRA to support a child...

Honestly?28K more a year for ONE CHILD, yet 90 million americans with families make less than 21k a year, as another thread pointed out?

And my husband and I did NOT CHOOSE to not have children together, we have been UNABLE to have children together, we/I am barren...not by choice.... but should we be punished with higher taxes for it, while someone making double the money we live off of get a several thousand dollar tax credit for the SS taxes they paid in, via the EIC credit, just because they have a child?

Sorry....i have been working on our tax return....i hate doing them...it makes me a sour puss...

care

No Care, you're right. Even when I had twins in daycare, it still didn't come out to an extra $2,333 per month above what I would have had to fork out to keep up a household without them. For the two combined.

And now that they're in school, it's even less. I can see how a child "can" cost that much to raise, especially if you send them to private schools. But that's a choice, not necessitiy.

 

[Ringel05]

$28,000 a year more to raise child? Kids are expensive, but not that expensive. Or at least, they don't have to be and shouldn't be.

I'm easily that expensive, annually, and I'm a perpetual kid.
(Now my wife on the other hand.... Good thing we make enough money. Whew!)

 

[goldcatt]

$28,000 a year more to raise child? Kids are expensive, but not that expensive. Or at least, they don't have to be and shouldn't be.

I'm easily that expensive, annually, and I'm a perpetual kid.
(Now my wife on the other hand.... Good thing we make enough money. Whew!)

I'm so not adopting you now.

 

[Gadawg73]

Yeah right, I am real lucky financially to have children. The EIC, which I oppose as I would not qualify anyway, really makes a difference for those with kids. NOT.
I have three kids, 2 in college and one in high school. The extra costs for these three kids combined each year is 60K.
The 2 boys in college cost 35K.
Extra insurance on their vehicles costs 2K
The vehicle costs-3 extra vehicles costs 6K a year
The extra medical costs are 4 K a year.
Add in another 3K for clothes
Another 3k for food
People without kids have no clue what it costs to raise children.

 

[xsited1]

EVERY day, at least 10 times a day, an ad has been running on tv, for people making less than $48k a year to please remember to file for the Earned Income Credit....

the hubby and i have no children and earn literally nothing so i thought i would see if we, for a change, would qualify for a tax credit of any sort...i mean, we brought in less than half of that $48k one can make and still get an EIC credit if they have a child?

BUTTTTTTTTT, don't qualify for the credit if a childless couple makes more than $20, 500...the couple with a child can get a tax break while income is $48k, the couple without $20.5k is the cutoff????????? IS that really fair?

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

You've got to go with averages here. You can't just take $48k-20.5k and assume each kid costs $27,500/year. It'll be somewhere in the middle. Kids cost a lot of money. If you don't have any, it is simply impossible for you to understand.

 

[Care4all]

Yeah right, I am real lucky financially to have children. The EIC, which I oppose as I would not qualify anyway, really makes a difference for those with kids. NOT.
I have three kids, 2 in college and one in high school. The extra costs for these three kids combined each year is 60K.
The 2 boys in college cost 35K.
Extra insurance on their vehicles costs 2K
The vehicle costs-3 extra vehicles costs 6K a year
The extra medical costs are 4 K a year.
Add in another 3K for clothes
Another 3k for food
People without kids have no clue what it costs to raise children.

you and your wife make more than the 48k a year, or you would qualify for the EIC.

They get the additional standard deductions already for each of their children and they also get deductions already for their child's college expense or tax free college funds they can invest in, day care, medical care, mortgage interest on the bigger house, etc.....can all be deducted already....this EIC is in addition to such...

I am not saying that these people should not be getting an EIC credit, I am just saying the way the gvt set it up, is skewed a tad bit unfairly in favor of those who have children....if there were not a 28k disparity as I mentioned above, I wouldn't have thought a thing of it....

Does a couple with a child making $48k a year really need this credit for several thousand dollars, more than the couple who only makes $20,600 a year according to the rules, with no child? something seems amiss with those rules?

 

[dilloduck]

Yeah right, I am real lucky financially to have children. The EIC, which I oppose as I would not qualify anyway, really makes a difference for those with kids. NOT.
I have three kids, 2 in college and one in high school. The extra costs for these three kids combined each year is 60K.
The 2 boys in college cost 35K.
Extra insurance on their vehicles costs 2K
The vehicle costs-3 extra vehicles costs 6K a year
The extra medical costs are 4 K a year.
Add in another 3K for clothes
Another 3k for food
People without kids have no clue what it costs to raise children.

you and your wife make more than the 48k a year, or you would qualify for the EIC.

They get the additional standard deductions already for each of their children and they also get deductions already for their child's college expense or tax free college funds they can invest in, day care, medical care, mortgage interest on the bigger house, etc.....can all be deducted already....this EIC is in addition to such...

I am not saying that these people should not be getting an EIC credit, I am just saying the way the gvt set it up, is skewed a tad bit unfairly in favor of those who have children....if there were not a 28k disparity as I mentioned above, I wouldn't have thought a thing of it....

Does a couple with a child making $48k a year really need this credit for several thousand dollars, more than the couple who only makes $20,600 a year, with no child? something seems amiss with those rules?

you can find something that's unfair better than anyone except maybe TM

 

[rdean]

Yeah right, I am real lucky financially to have children. The EIC, which I oppose as I would not qualify anyway, really makes a difference for those with kids. NOT.
I have three kids, 2 in college and one in high school. The extra costs for these three kids combined each year is 60K.
The 2 boys in college cost 35K.
Extra insurance on their vehicles costs 2K
The vehicle costs-3 extra vehicles costs 6K a year
The extra medical costs are 4 K a year.
Add in another 3K for clothes
Another 3k for food
People without kids have no clue what it costs to raise children.

Some people don't have children because of the cost. They feel that if they can't give the child everything it needs for success, it's better not to have one.

 

[Care4all]

EVERY day, at least 10 times a day, an ad has been running on tv, for people making less than $48k a year to please remember to file for the Earned Income Credit....

the hubby and i have no children and earn literally nothing so i thought i would see if we, for a change, would qualify for a tax credit of any sort...i mean, we brought in less than half of that $48k one can make and still get an EIC credit if they have a child?

BUTTTTTTTTT, don't qualify for the credit if a childless couple makes more than $20, 500...the couple with a child can get a tax break while income is $48k, the couple without $20.5k is the cutoff????????? IS that really fair?

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

You've got to go with averages here. You can't just take $48k-20.5k and assume each kid costs $27,500/year. It'll be somewhere in the middle. Kids cost a lot of money. If you don't have any, it is simply impossible for you to understand.

Sooo, we should pay more in taxes so that you can pay less in taxes, because YOUR KIDS cost you more money? ok.

 

[MIPS]

EVERY day, at least 10 times a day, an ad has been running on tv, for people making less than $48k a year to please remember to file for the Earned Income Credit....

the hubby and i have no children and earn literally nothing so i thought i would see if we, for a change, would qualify for a tax credit of any sort...i mean, we brought in less than half of that $48k one can make and still get an EIC credit if they have a child?

BUTTTTTTTTT, don't qualify for the credit if a childless couple makes more than $20, 500...the couple with a child can get a tax break while income is $48k, the couple without $20.5k is the cutoff????????? IS that really fair?

does it really cost each couple with a child, $28, 000 A YEAR more than the couple without a child?

anyway....you lucky dogs with children, don't forget to see if you qualify for this credit!

You've got to go with averages here. You can't just take $48k-20.5k and assume each kid costs $27,500/year. It'll be somewhere in the middle. Kids cost a lot of money. If you don't have any, it is simply impossible for you to understand.

Sooo, we should pay more in taxes so that you can pay less in taxes, because YOUR KIDS cost you more money? ok.

How's that old wealth redistribution working out for you now Care4all?

 

[Jon]

I don't get your math. One child qualifies you for $3,000 in credits. That's saying that approximately $12,000 (based on a 25% tax rate) of your income was spent raising a child and that you should get a tax break on that income, which is a very lowball figure.

With three children, the maximum credit is $5,600. That's like saying $22,400 of your income was spent raising a family, an even lower figure per child.

Furthermore, those with higher incomes have more deduction options. It's a wash.

 

[Claudette]

How about those on welfare getting money back for their kids?? These folks don't support jack shit yet can get thousands back in taxes that they don't pay.

Talk about spreading the wealth.