I'm curious about GAF's opinion on this. As an example, recent Earned Income Tax Credit requirements:
Note that having one child means you can earn up to an additional 21k in a year, and potentially qualify for a lot more credit.
Now, granted, nobody raising a kid on 34k a year is going to be living it up, but I don't even think 12k will earn you a single independent living in the boonies, never mind urban areas like NJ/NY. On top of that, this is hardly the only break parents get, while even this kind of "help" for single childless people is extremely rare.
My point is this: I don't want to see kids suffer any more than the next guy. But doesn't this kind of stuff in excess only encourage childbirth in borderline financial situations? If we're not going to cut back on that end, I at least want to see assistance qualifications for single childless people bumped to a point beyond "so below the livable standard that the credits won't even help". I feel that as a responsible adult who knows he can't properly afford to raise a child, I'm getting dicked over on taxes to the benefit of people who shouldn't be having kids in the first place.
Another potential idea: What if parents who took advantage of these programs paid increased taxes when the child is no longer considered a dependent (with a couple of years extra potentially tacked on for certain cases involving college)?
What do you think?
Tax Year 2008
Earned income and adjusted gross income (AGI) must each be less than:
$38,646 ($41,646 married filing jointly) with two or more qualifying children
$33,995 ($36,995 married filing jointly) with one qualifying child
$12,880 ($15,880 married filing jointly) with no qualifying children
Tax Year 2008 maximum credit:
$4,824 with two or more qualifying children
$2,917 with one qualifying child
$438 with no qualifying children
Note that having one child means you can earn up to an additional 21k in a year, and potentially qualify for a lot more credit.
Now, granted, nobody raising a kid on 34k a year is going to be living it up, but I don't even think 12k will earn you a single independent living in the boonies, never mind urban areas like NJ/NY. On top of that, this is hardly the only break parents get, while even this kind of "help" for single childless people is extremely rare.
My point is this: I don't want to see kids suffer any more than the next guy. But doesn't this kind of stuff in excess only encourage childbirth in borderline financial situations? If we're not going to cut back on that end, I at least want to see assistance qualifications for single childless people bumped to a point beyond "so below the livable standard that the credits won't even help". I feel that as a responsible adult who knows he can't properly afford to raise a child, I'm getting dicked over on taxes to the benefit of people who shouldn't be having kids in the first place.
Another potential idea: What if parents who took advantage of these programs paid increased taxes when the child is no longer considered a dependent (with a couple of years extra potentially tacked on for certain cases involving college)?
What do you think?