New Budget Punishes Families with Children
Maybe it was the octuplet mother inciting public backlash, or Nancy Pelosi’s warpedthinking that preventing future productive members of society will help us out of our current economic meltdown. Whatever the reason, stateleaders have decided that parents should no longer receive tax benefits for growing their families. Included in their budget “deal” is a decrease in the dependent exemption credit. Kevin Dayton over at the Associated Builders and Contractors of California first brought this to my attention in an email. He explained that part of the budget deal was the plan to “raise $1.44 billion by increasing taxes at least $210 per dependent by reducing the dependent exemption credit to equal the personal exemption credit.”
Kevin made a great point about the exemption so I’m just going to quote him directly: “The proposed budget makes it sound so nice – ‘equalizing the credit’ – as if justice was… Read More