Reduce taxes?
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Reduce taxes?
| Sat, 09-27-2008 - 9:09pm |
I'm hoping some of our more educated posters can shed some light on this for me. I'm truly deciding who to vote for and I don't want to regret my vote down the road. I would love to pay less in taxes. If Obama wants to do away with the Bush tax cuts, does that include the child credit? If our family lost that, we would be paying 2000 more in taxes each year. How is that really reducing my taxes. Would his tax cuts come close to offsetting this?
Edited 9/28/2008 4:04 pm ET by bsktbllmom05
Edited 9/28/2008 4:04 pm ET by bsktbllmom05

*bump*
just because it was never answered and i don't know.
Bea
I haven't seen anything about this from either candidate.
Not every taxpayer who has a child gets that credit as it's "phased out" depending on your income. Sounds like if you're getting it his intent is to allow you to continue to get it. However if he lets the Bush tax cuts expire as scheduled there are many folks who will lose out.
I honestly don't see how he's going to be able to give out all the freebies and entitlement plan additions he claims he wants to do by merely limiting his tax increase on a small percentage of so-called "wealthy" people. They already aren't getting those reductions in their adjusted gross income, no personal exemptions, limited itemized deductions, no child tax credit, etc.....