(December 4, 2017 at 4:41 am)Fake Messiah Wrote: Why are Trumpers on this forum silent about this? Considering they support him they perhaps know something we don't about this and could explain it to us?
Well, it seems like it's going to be a tax break for most people. It appears that you guys don't seem to know that, based on the responses in this thread.
For example, losing the 4000 deduction for a child has been complained about. But a $1000 increase in the child credit offsets that for anyone at 25%, and is preferable for people under 25% which in the senate is everyone under 160k as a single, 320k for married filing jointly.
The only thing I've read is that people can't make money off from the child credit now. Meaning the government can't end up owing you money. So if you pay 0 taxes, you don't get 2000 free dollars because you have a kid. The credit can only reduce your tax burden to 0. I wonder if that's the reason behind some of the people seeing a 'tax increase' is that they are going from making a few hundred to just owing nothing?
