rob in cal
Jr. Member
Posts: 1,985
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« on: September 19, 2012, 11:39:33 AM » |
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Another interesting aspect of this is that a big chunk of the 47% non federal income tax paying group of people was created by the child credit, first it was 500$ per child passed by GOP congress in the mid 90's, then doubled by W in early 2000's to 1,000 per child.
This credit, which has benefited a huge number of people, has likely pushed lots of families out of income tax territory, because the credit comes after you figure how much income tax you owe, and is then applied to it. Perhaps Romney should be asked whether he is for repealing this GOP backed tax cut. BTW, it represented one of the most broad based and pro-99% type tax cut that the GOP has passed, as obviously a 1,000 dollar credit per child is going to have a proportionally greater impact on a family earning, say, 50K, then one earning 10,000,000 dollars (and I believe its phased out any way for higher earners).
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