Child tax credit versus exemption
Reader comment on: Larry Lindsey on JFK, Conservative
Submitted by Lyle (United States), Oct 12, 2017 10:44
Note that one feature of the proposal that is not discussed is an increase in the child tax credit amount not specified but there is talk of raising it to 2000. Now a tax credit is worth more to someone in a lower tax bracket than in a higher bracket. Using the proposed rates a family of 4 would have to earn more than 56k to pay any tax if the tax credit increase is included. (Assuming 56k is in the 12% bracket) if you use the 25% bracket it works out to 40k.
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