This is for those who don't like the Child Tax Credit

[MajorChode]

Do any of you remember how this credit originated?

I think it's important to recap the history of how the Child Tax Credit started, why it came about, and how it has changed over the years for those of you who have forgotten.

The first Child Tax Credit was conceived in 1997, and took effect in 1998. For those that don't remember, during that time Lott was in charge of the Senate and Newton was in charge of the House. So why did the Republican controlled congress pass this Child Tax Credit? Do the Republicans love kids that much? No. The Child Tax Credit was added as part of a huge CAPITAL GAINS TAX REDUCTION.

http://en.wikipedia.org/wiki/Taxpayer_Relief_Act_of_1997

The pugs knew the Democrats in congress couldn't vote against it and Clinton couldn't veto it with that provision added. So basically what was happening was the huge budget surpluses generated by the Clinton economy were being given away to the rich with a few crumbs thrown to working families.

In 2001 we saw another huge tax giveaway to the rich and a few more crumbs thrown to working families. Again the Democrats were bullied by the crumbs.

In 2003, the same tune was played.

So basically the Republicans just kept giving more and more to the rich until the budget surpluses Clinton created were all gone. And the American public bought into it on the cheap.

Now some on DU want to do away with the Child Tax Credit because they have no kids and they don't get "their fair tax cut". What they don't realize is there was nothing fair about the Child Tax Credit to begin with.

I say fuck this nickle and dime shit. Put the tax code back to where it was in 1997 and THEN give the poor and middle classes a REAL tax cut. Anything less is bullshit.

</rant>

[Pithlet]

1. They're crumbs thrown to working families.

That's what they're resentful of. It's really pitiful when you see it in this context. I actually tried to point out that it was very small potatoes compared to the tax cuts the rich get that we should all be outraged about, but that got ignored. Thank you for pointing this out. I don't expect it will change much.

[leftstreet]

2. The Ruling Class is good at getting us to hate on each other

x(

[Luminous Animal]

3. No shit.

Waaa! Why should I pay for your roads? Waaa! Why should I pay for your trains? Waa! Why should I pay for the sick? Waa! Why should I pay for the poor? Waa! Why should I pay for safe sea lanes? Waa! Why should I pay for weather service? Waa! Why should I pay for fire fighters? Waa! Why should I pay for your kids?

We are all fighting for pennies, while the military industrial complex makes off with our dollars.


Grow up.

[Pithlet]

6. Interesting that this thread is getting ignored

While the whining continues in the other one.

[4_TN_TITANS]

4. I'm not going to argue whether it's fair or not,

but it has made a big difference for my family. '97 was the first year we started getting refunds instead of paying out. Back then I was too busy scraping by to keep up with the news and it freaked me out when I came across the credit while filling out the taxes.

[MajorChode]

7. I'm glad it helped you at a time when you needed it

But the bigger problem is that by the time you make over about $15K AGI, you can easily be paying a higher tax rate than the Waltons, the Bloombergs, and the Buffets of this country, and it only gets worse the more you make in wage income.

There's something wrong with that picture.

[defendandprotect]

5. Put the tax code back to where it was in the 1950's . . !!! Reinstate New Deal-!!