Tax Policy Center Claims Trump Child Care Plan Favors the Rich
Although most of President Trump’s policies have greatly divided the country, one policy that everyone can agree upon is lowering the cost of childcare. However, what they don’t agree on is how to make that happen. So far, his proposals have been well received by the right and not so much by the left. Shocking, right?
Trump made reducing the cost of childcare one of his campaign promises and even included it on his contract with America. His Daughter Ivanka Trump played a big role in creating the plan, which would provide more paid family leave for new parents and help increase the tax benefits to parents who have to pay for childcare, and even to some who don’t.
However, the problem is, according to the non-partisan Tax Policy Center, the president’s new plan will really only help the wealthy. The Tax Policy Center claims that 70 percent of the proposed benefits would directly help families that make at least $100,000. Meanwhile, more than 25 percent would go to anyone who earns $200,000 or more.
The plan also calls for a refundable tax credit for lower income families with parents that don’t end up owing any federal income tax. The most they could receive would be $1,200, but most families would end up with much less. Plus, parents who stay home wouldn’t be eligible for the tax credit, but wealthier parents that don’t work could still take advantage of the tax deduction.
http://money.cnn.com/2017/02/28/news/economy/donald-trump-child-care/
Recent Trends in the Venture Capital Community
Recent Trends in the Venture Capital Community Recently, I attended a Venture Capital Conference in which one of the speakers predicted we would see technology change in the next 15 years that would rival advancements similar to the past 100 years. That is a bold prediction, but as new technologies continue to emerge we are…
Tax Filing Mistakes
Tax Filing Mistakes Tax return anxiety is on the rise as the federal tax filing date looms. The prospect of filing an erroneous return increases as more rely on tax software to help prepare their returns. For the week ending March 28, more than 10,000 electronic returns were filed from home computers, an increase of…
Preparing Your Business Plan
Preparing Your Business Plan “Other things being equal, a well prepared business plan will increase your chances of obtaining the venture capitalist’s financial commitment.” Introduction A business plan is a description of your business. To be complete your plan should describe: Your company and industry The product The market and marketing approach How the product…
How to Recession-Proof Your Small Business
How to Recession-Proof Your Small Business The recent collapse of Bear Stearns & Co., one of the largest financial institutions in the world, has intensified the fears of most small business owners in the Bay Area despite an earlier, rosier prediction by the Association of Bay Area Governments that the recession would have minimal effect…