child support

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Dependent

A person who is under the care of a parent, relative or other caretaker and cannot live on his/her own. Most children who are eligible to receive child support must be dependents. The child ceases to be a dependent when he or she reaches the “age of emancipation” as determined by state or tribal law but, depending on the State ’s or Tribe’s provisions, may remain eligible for child support for a period after he or she is emancipated, or reaches the age of “majority.”

Question: Should the dependent exemptions be removed from tax code? I am concerned about global population growth, our national deficit, education costs, etc. I choose not to have children for numerous factors including economics. I contribute to society by not adding to the education cost burden and population etc. McCain proposes doubling the dependent exemption. Why not save the deficit and encourage family planning etc. and eliminate the dependent exemptions. You only get paid a salary. The salary is not adjusted for the number of children you elect to have. You have to live with what you earn regardless of the number of children. Why not just allow the following: Joe and Cathy are married and both work. Joe and Cathy have three children. Joe and Cathy file a joint return. For personal exemptions, there are 2 allowable exemptions (one for each tax payer - Joe and Cathy). Or, limit the number of dependent exemption amounts? (i.e. you can have up to 2 dependent exemptions - if you have 5 kids, you can only write off 2).

Answer: Deductions for kids are just the tip of the iceberg. Better yet, let's eliminate the Earned Income Credit and the Additional Child Tax Credit. Those are the credits that pays people to have kids if they agree to never marry. Example: Susie has two kids and makes $13K a year. She will pay no taxes since her standard deduction + personal exemption + 2 dependent exemptions wipes out all income. But not only that, the federal government (in other words, we taxpayers) will pay her an earned income credit of $4500. So her taxes for the year are -$4500. In other words she is a payer of negative taxes - she gets all her withholdings back plus a $4500 bonus. Oh yeah, I almost forgot about the Additional Child Tax Credit. Another bonus for anybody with kids who makes over $11K but isn't eligible for the Child Tax Credit, like Susie. Without figuring it out exactly, let's just point out it can be anywhere from a few dollars to a few thousand dollars. So she "pays" even more negative taxes. On the other hand, if Susie marries Johnny, the dad, who makes $30K, guess what happens. It they are married, their combined income is too high for the EIC, and they also won't get the Additional Child Tax Credit. So if Susie says "I Do", she is kissing off over $4500 a year. So they shack up until Johnny finds another prettier Susie - one that doesn't have kids climbing all over her. Then actual taxpayers who pay positive taxes will pay to raise her kids. And what example on how to live and survive will those kids learn? They will learn from mommy and daddy that people should have kids and shack up so the government won't tax them but will give them negative tax bonuses instead! Any guesses as to why we have so many unwed mothers today?

 


Dependent Related Products and News

TSN

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Yahoo! News
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Irish Examiner
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Inalienable rights not dependent on religion

The Tennessean
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Indian growth story dependent on effective infrastructure risk management: CII

Times of India
MUMBAI: The greatest opportunity and challenge to India's growth is infrastructure and the greatest challenge to the growth of infrastructure is risk - anticipated and unforeseen - that are part of any project. Risk and its effective mitigation were ...
 

Press TV

Number of people dependent on food banks on rise in UK
Press TV
 

ITV News

Digitally dependent Britain: Are toddlers addicted to tablet computers and ...
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Philly.com

Whitemarsh doctor charged with writing prescriptions for drug-dependent patients
The Reporter