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/
Financing A More Exclusive Lifestyle
It’s surprising that the emerging market is now the biggest consumer of luxury goods, as reported by Deloitte, where a more mature audience once held the title. This will require luxury brands to reinvent their marketing approach in order to accommodate their new clientele. With an increase in income and more access to loan products, the new luxury consumer is fully equipped to have all they desire. But what is it that this elite group of consumers really want?Fast Cars Are No Longer EnoughWhile
How Do Biotech and Pharma Companies Feel About New Tax Law?
How Do Biotech and Pharma Companies Feel About New Tax Law? The back and forth regarding the new tax reform bill has been endless since even before it became law. Obviously, there are pros and cons and both sides hold tight to their arguments. Additionally, some taxpayers and industries oppose the reform, while others are…
Five Easy Steps To Help You Retire Wealthy
What hard-working individual doesn’t dream about retiring rich and living the good life throughout his or her golden years? After all, what’s the point of working your life away if you never get to enjoy the fruits of all your labors? The problem is, for many, retiring wealthy and living the good life is just that: a dream. In fact, for many, retirement is a daily battle just to have enough to get by after paying for all their necessary food and medical care. That’s not how retirement should be,
Five Mistakes You Can’t Afford to Make at Work
Have you ever made a bad mistake at work that you just couldn’t live down? No one is perfect and everybody makes mistakes. In most cases, people can overcome mistakes they make at work, but there are a few missteps that could really end up costing you. So, even though you’re not perfect make sure you do everything in your power to avoid these five critical mistakes at work.Promising too much – we all want to accomplish as much as we can and impress our bosses and coworkers. However, it’s a bad