Is it possible to restore the child tax credit back to where it was?

[Lisa558]

The ”expanded” child tax credit is a misnomer for many: the tens of millions of people who pay no income taxes whatsoever now get thousands of dollars in welfare per year. A young couple with three children, who owe no taxes, get around $10,000 a year, taxfree, or the equivalent of a part-time job.

This has caused three problems:

1) Mothers with part-time jobs have now quit them because they don’t need the earnings anymore, exacerbating the labor shortage

2) Those who did not have jobs now are flush with cash they never had and spending more freely, also exacerbating the labor shortage, inflation is rampant.

3) As far as the inflation, the parents getting several hundred dollars of OPM can absorb it, but it is causing a massive hardship for young singles, childless couples, retired next couples, and of course our senior citizens on modest fixed incomes,

There is something very wrong with policy that allows only a certain segment of the population to improve their lives when it harms other segments of the population.

Can we reverse this back to the original? In doing so, we would remove at least some of the pressure on inflation and reduce the financial hardship caused to people without children.

 

[Baron Von Murderpaws]

Anything is possible.

Amendments to rules, laws, and codes are always recanted or "un-amended".

 

[Lisa558]

Anything is possible.

Amendments to rules, laws, and codes are always recanted or "un-amended".

But would recanting it be the kiss of death to the politicians? The people who are now enjoying sll that extra, tax-free money would vote them out of office for taking what they have come to see as “their money” away.

The young mother I know just quit her part-time job and told me of all the special treats she bought for herself with her newfound cash flow. I’m sure she would vote against having to go back to her job and give up her increased spending ability. Now multiply that by the 70 million or so getting the new freebie, and well….you can see the problem.

 

[Opie]

I hope they do!!

 

[Remodeling Maidiac]

But would recanting it be the kiss of death to the politicians? The people who are now enjoying sll that extra, tax-free money would vote them out of office for taking what they have come to see as “their money” away

Vote them out.

We need new representatives in both parties. The ones we have now outside of a few are a danger to our nation.

 

[DBA]

The ”expanded” child tax credit is a misnomer for many: the tens of millions of people who pay no income taxes whatsoever now get thousands of dollars in welfare per year. A young couple with three children, who owe no taxes, get around $10,000 a year, taxfree, or the equivalent of a part-time job.

This has caused three problems:

1) Mothers with part-time jobs have now quit them because they don’t need the earnings anymore, exacerbating the labor shortage

2) Those who did not have jobs now are flush with cash they never had and spending more freely, also exacerbating the labor shortage, inflation is rampant.

3) As far as the inflation, the parents getting several hundred dollars of OPM can absorb it, but it is causing a massive hardship for young singles, childless couples, retired next couples, and of course our senior citizens on modest fixed incomes,

There is something very wrong with policy that allows only a certain segment of the population to improve their lives when it harms other segments of the population.

Can we reverse this back to the original? In doing so, we would remove at least some of the pressure on inflation and reduce the financial hardship caused to people without children.

I’ve been barking up this tree since it was implemented. Most people don’t have a clue that this was amended to inclue those that don’t pay taxes. Heck, I have to continually bring up this revised credit to Democrats on this board when they claim that the extra money has stopped being doled out, and these are people who actually follow politics and news. The Democrats figured they could sneak in some freebees and most wouldn’t notice and they were correct.

I doubt it will ever be removed. We will continue to incentize lower income folks to have kids who in turn will vote the same way their parent’s do, just like illegal immigration, to the Democrats, it ultimately means more voters and more power. In the meantime, inflation will continue as our labor shortage will be worse.

I don’t blame Democratic politicians much as the people that vote for them. The politicians are fully aware of what they are doing, the Democratic voters that are NOT getting all the freebees are voting against their own self-interest but are too ignorant and stepped in their ideology to even realize it.

 

[Lisa558]

I’ve been barking up this tree since it was implemented. Most people don’t have a clue that this was amended to inclue those that don’t pay taxes. Heck, I have to continually bring up this revised credit to Democrats on this board when they claim that the extra money has stopped being doled out, and these are people who actually follow politics and news. The Democrats figured they could sneak in some freebees and most wouldn’t notice and they were correct.

I doubt it will ever be removed. We will continue to incentize lower income folks to have kids who in turn will vote the same way their parent’s do, just like illegal immigration, to the Democrats, it ultimately means more voters and more power. In the meantime, inflation will continue as our labor shortage will be worse.

I don’t blame Democratic politicians much as the people that vote for them. The politicians are fully aware of what they are doing, the Democratic voters that are NOT getting all the freebees are voting against their own self-interest but are too ignorant and stepped in their ideology to even realize it.

Absolutely. They are incentivizing the low-income to have more children, who will then be on the dole. The young mother I mentioned who quit her job now that she is getting the equivalent in free money? She had told me last year that she wanted yet another baby but they couldn’t afford it. When I saw her last week, she told me she was 6 weeks pregnant. She can now afford it! You can be sure that she will be voting Democrat for the next 18 years at least, by which time her children will be voting age and vote Democrat as well.

At the very least, they should remove “tax credit” from the name, but the reason they don’t do that is it would give away the f act that this is just welfare, plain and simple.

 

[DBA]

At the very least, they should remove “tax credit” from the name, but the reason they don’t do that is it would give away the f act that this is just welfare, plain and simple.

Yeah, they won’t do that for sure. They need to keep their tax paying constituency as ignorant as possible.

 

[Otis Mayfield]

When people say "pay no income taxes," it's not true.

Most people pay "payroll tax." If you've ever collected a check, you're familiar with "payroll tax."

 

[busybee01]

The ”expanded” child tax credit is a misnomer for many: the tens of millions of people who pay no income taxes whatsoever now get thousands of dollars in welfare per year. A young couple with three children, who owe no taxes, get around $10,000 a year, taxfree, or the equivalent of a part-time job.

This has caused three problems:

1) Mothers with part-time jobs have now quit them because they don’t need the earnings anymore, exacerbating the labor shortage

2) Those who did not have jobs now are flush with cash they never had and spending more freely, also exacerbating the labor shortage, inflation is rampant.

3) As far as the inflation, the parents getting several hundred dollars of OPM can absorb it, but it is causing a massive hardship for young singles, childless couples, retired next couples, and of course our senior citizens on modest fixed incomes,

There is something very wrong with policy that allows only a certain segment of the population to improve their lives when it harms other segments of the population.

Can we reverse this back to the original? In doing so, we would remove at least some of the pressure on inflation and reduce the financial hardship caused to people without children.

1) Why do you hate stay at home moms?

2) The way you talk, you would think they are getting a million dollars. Many people are spending the money on necessities not luxuries.

3) The inflation has beenexacerbated by people's refusal to get vaccinated. The coronavirus can't be put behind us because of this.

The fact is that the child tax credit has lifted many children out of poverty. Of course you want to undo this because of your delusional thoughts. You are a cruel, cold bastard.

 

[Lisa558]

When people say "pay no income taxes," it's not true.

Most people pay "payroll tax." If you've ever collected a check, you're familiar with "payroll tax."

Stop playing word games. We are talking about federal income taxes - NOT contribution to Social Security and Medicare.

We have tens of millions of parents who pay NO federal income tax, and already enjoy free education for their kids, who are now also collecting up to $10,000 or more a year, tax-free, which is driving inflation, making things harder to afford for people without children, and of course enabling numerous parents who would otherwise need to earn money to quit their jobs.

Giving money to SOME segment of the population, which in turn makes things more difficult for OTHER segments of the population (including senior citizens and moderate-earning childless couples) needs to stop.

 

[busybee01]

I’ve been barking up this tree since it was implemented. Most people don’t have a clue that this was amended to inclue those that don’t pay taxes. Heck, I have to continually bring up this revised credit to Democrats on this board when they claim that the extra money has stopped being doled out, and these are people who actually follow politics and news. The Democrats figured they could sneak in some freebees and most wouldn’t notice and they were correct.

I doubt it will ever be removed. We will continue to incentize lower income folks to have kids who in turn will vote the same way their parent’s do, just like illegal immigration, to the Democrats, it ultimately means more voters and more power. In the meantime, inflation will continue as our labor shortage will be worse.

I don’t blame Democratic politicians much as the people that vote for them. The politicians are fully aware of what they are doing, the Democratic voters that are NOT getting all the freebees are voting against their own self-interest but are too ignorant and stepped in their ideology to even realize it.

We know it is a refundable tax credcxit and it makes no difference. This has nothing to do with freebees. This is about helping people who need help.

You are a bigot and nothing more. No one has babies just so they can get the child tax credit. Our labor shortage occurs because the chicken has come home to roost. Businesses have treated workers like slaves and workers are fed up with it.

You are the one who is ignorant. Maybe you should consult the Bible and discover compassion.

 

[busybee01]

Stop playing word games. We are talking about federal income taxes - NOT contribution to Social Security and Medicare.

We have tens of millions of parents who pay NO federal income tax, and already enjoy free education for their kids, who are now also collecting up to $10,000 or more a year, tax-free, which is driving inflation, making things harder to afford for people without children, and of course enabling numerous parents who would otherwise need to earn money to quit their jobs.

Giving money to SOME segment of the population, which in turn makes things more difficult for OTHER segments of the population (including senior citizens and moderate-earning childless couples) needs to stop.

You are the one playing games. If you are paying taxes then you do not have a large income especially if you have children. The way taxes were changed exacerbates the situation. Republicans got rid of the personal exemption and opted for a single standard deduction. The deduction for married couples is $25,000 and there are no adjustments for children. If you have a child then it adds up to $8,333 per person. If you have 2 children then it drops to $6,250.

Impoverishing children is a way to defeat inflation? Inflation is happening because of the pandemic. By the way, what do they do with the children while they work? You are a idiot and nothing more.

 

[DBA]

When people say "pay no income taxes," it's not true.

Most people pay "payroll tax." If you've ever collected a check, you're familiar with "payroll tax."

Many of these folks don't work so they do not pay federal income tax except on perhaps the free money they already receive. I am not sure how that could be considered "paying" tax.

 

[Lisa558]

Many of these folks don't work so they do not pay federal income tax except on perhaps the free money they already receive. I am not sure how that could be considered "paying" tax.

Liberals always come up with “but….but….payroll taxes.” They are talking primarily about Social Security contributions, which the lower income get back at a greater percentage of their income than middle and high income.

The very unfair fact is that half of Americans pay no federal income tax, and 40% - and this was BEFORE Biden expanded welfare - are on some sort of government support such as food stamps. So not only are the bottom half not contributing to the government; they are taking out.

But now that Biden is giving government support checks to all parents with incomes of $150,000 or less, he has moved more people into the category of those not paying taxes. In reality, we now have a majority of people not paying federal income taxes.

Who is paying? Granny, who gets $25,000 in Social Security year and draws another $25,000 from her IRA savings. So Granny, after a life of paying income taxes, STILL has to pay on her $50,000 income. In the meantime, a husband earning $150,000 with three young kids gets more than $10,000 a year from other people.

 

[DBA]

You are the one playing games. If you are paying taxes then you do not have a large income especially if you have children. The way taxes were changed exacerbates the situation. Republicans got rid of the personal exemption and opted for a single standard deduction. The deduction for married couples is $25,000 and there are no adjustments for children. If you have a child then it adds up to $8,333 per person. If you have 2 children then it drops to $6,250.

Impoverishing children is a way to defeat inflation? Inflation is happening because of the pandemic. By the way, what do they do with the children while they work? You are a idiot and nothing more.

If you don't pay federal income taxes, you previously got no benefit from a child tax credit nor deduction. Now, these families are getting paid. Inflation is because of out control spending and paying people to stay home, resulting in a labor shortage, which is the major issue with the supply chain disruption. Sorry, but you are the idiot that doesn't see it and will likely be one of those in support of continuing this freebee indefinitely.

 

[task0778]

Right now there just isn't much of a call for fiscal sanity/responsibility. 10 years ago we had a grass roots movement to cut taxes, the TEA Party. But it kinda died off, or at least it appeared to do so. Well, now we need a SEA Party, Spent Enough Already Party that gathers enough strength to return this country back to the days when profligate spending was abhorred. There's gotta be enough political support for that amongst the voters, otherwise it ain't going to happen.

 

[Lisa558]

You are the one playing games. If you are paying taxes then you do not have a large income especially if you have children. The way taxes were changed exacerbates the situation. Republicans got rid of the personal exemption and opted for a single standard deduction. The deduction for married couples is $25,000 and there are no adjustments for children. If you have a child then it adds up to $8,333 per person. If you have 2 children then it drops to $6,250.

Impoverishing children is a way to defeat inflation? Inflation is happening because of the pandemic. By the way, what do they do with the children while they work? You are a idiot and nothing more.

You are so ignorant. If you are paying taxes, you claim, you don’t have a larg income, especially with children? Well. that’s the f’in point! The people with children are getting thousands upon thousands of dollars, driving inflation, and people with no children, also paying taxes so they have little income, get nothing. All they get is higher prices due to the increased handouts to parents!

And you act like childless people’s taxes haven’t already gone to help irresponsible parents, who had children they couldn’t afford to raise, support them. They are getting food stamps, and subsidized housing, and free lunches, and free breakfasts, and free health care, etc. etc. etc.

We do NOT need to drive prices up on Granny, with her modest fixed income, in order to give parents earning $150,000 a year free money.

 

[DBA]

You are a bigot and nothing more.

I am somewhat bigotted against ignorant fools who get to vote. You fit the bill.

 

[Lisa558]

If you don't pay federal income taxes, you previously got no benefit from a child tax credit nor deduction. Now, these families are getting paid. Inflation is because of out control spending and paying people to stay home, resulting in a labor shortage, which is the major issue with the supply chain disruption. Sorry, but you are the idiot that doesn't see it and will likely be one of those in support of continuing this freebee indefinitely.

Exactly! I am So frustrated with these idiots. A modest-earning family with three children previously paid NO tax - and thus they got nothing from a refundable tax credit. Now they get $10,000 a year in cold hard cash.

And this applies to the welfare types too. They were staying home with their gaggle of kids, with no job, and living in subsidized housing, getting Medicaid for all the kids, free lunches and breakfasts, food stamps, and more - all paid for by taxpayers. Now, depending on the age and number of kids they had, they are getting $1200, $1500 a month.

What we have now is an expanded welfare class that not only pays nothing in taxes, but gets thousands and thousands a year in cold cash - all the while senior citizens, having worked a lifetime and paid in taxes for a lifetime, getting by on SS, plus their savings, and STILL having to pay taxes.