In "tax language," we call that the Child Tax Credit. Many wage earners currently make money with the Child Tax Credit. Their total income tax is less than zero; at tax time, their refunds are more than what was withheld from their paychecks.
If the Child Tax Credit is increased to $1000/child, even more wage earners will, instead of being taxpayers, become tax recipients.
Will my family benefit from the Child Tax Credit increase? You bet. Is it proper? A flat tax would be more proper.
Today, 96% of income taxes are shouldered by the top 50% of wage earners. Tomorrow? Figure the top 45%, or 40%. Does this sound like the conservative thing to do?
You have just unwittingly stumbled upon the Libs' Game Plan. Their plan is to have all the income taxes paid by less than 50% of the voting-age populace. When that happens, they figger, tax cuts as a campaign issue will be OVER.
Jeff Greenfield had a very interesting bit to say on Errin' Brown's NewsNight on CNN last night - especially since it was Jeff Greenfield and that it was CNN. He said that the Dems are barking up the wrong tree on the class warfare angle - that they're still stuck in a kind of late 1940's mentality when refering to the "rich" as those making $100,000 a year. Back then, he said, that was a lot of money - but TODAY it's just a middle-level manager. Plus, he said, there's another angle the Dems are forgetting. The poor may not have much NOW, but they want their KIDS and their GRANDKIDS to be RICH. And they DON'T want their grandkids to be denied a chance to be rich - and then have it all taxed away when they get there.
You can visit CNN's transcript page and find the exact exchange. I was, for once, flabbergasted.
Michael