http://www.chicagotribune.com/busine...222-story.html
liberal bias! consider..
the example about the refundability of $1400 of the credit, when no taxes are owed. the article suggests "only" 15 cents on the dollar about $2,500 income is refundable.. if a family earns $22,500, that leaves $20,000 X .15, or $3,000 refundable (the whole $2,800 with 2 children).. hardly a difficult yardstick.
if you earn less than that, your earned income credit is high, and you get welfare, Medicaid, etc.. and you shouldn't be having more than 2 children ANYWAY.. hardly savaging the poor!
granted, illegal families can no longer siphon a child tax credit.. as it should be.. just a few years ago, illegals were draining the coffers of child tax credits AND earned income credits (the latter made illegal 4 years ago, or so, but a tax ID # would give you child tax credit eligibility).
what the article doesn't say, and the author doesn't want you to know?
a US Citizen or Resident Alien can be married to an illegal, and for tax purposes consider themselves unmarried. take a married couple, for example.. she has a Green Card, he swam across the Rio Grande undocumented.
she earns $25,000 (reported on a W2)
he earns $25,000 (construction and "odd jobs", paid in cash)
2 children, ages 3 and 6.
"their" tax return shows HER as head of household with 2 children, she collects ALL of her federal withholding in refund, PLUS much of the child tax credits (refundable portions), AND a large earned income credit.. based on her reported $25,000.. his income is unknown and unreported.. the family lives on $50,000, pays zero tax (other than her portion of FICA), AND collects thousands (6,000 or 7,000 in this example) of dollars in TAX CREDITS.
this article is a Fraud.
Chicago Tribune on the New Child Tax Credit
