diet coke for breakfast

Thursday, May 29, 2003

Posted by Jake
Tax Law Omits Child Credit in Low-Income Brackets

Unfortunately, this article sort of glazes over the fact the low income people are not getting the credit because they do not pay enough taxes to cover the entire credit. They pay no taxes whatsoever. In fact, some of them get a check from the government every year, because their credits are larger then their refund. When this article says they don't benefit as much from the tax credit, what they mean is that the check that they get from the government -- in addition to zero taxes -- is not increasing by 400 dollars.

I think we should all thank the NYTimes for really clarifying yet another difficult issue.


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