Ivanka Trump pushes $500 billion child care subsidy plan

[Independent voter]

Pay your baby sitter and deduct it off your taxes. Problem is a lot of women don't make enough money to pay taxes in the first place. I assume that if you're making $50k and got a kid, you probably aren't paying a lot of taxes so in this scenario you'd get nothing from Ivanka's plan.

Ivanka is Trump's daughter, btw.








http://www.csmonitor.com/USA/Politic...-would-benefit



February 24, 2017 —First daughter Ivanka Trump is asking Congress to rein in child-care expenses – but at a hefty price.

According to a report from Bloomberg News, Ms. Trump met with members of Congress in the White House’s Roosevelt Room last week to discuss her plans for a child care tax benefit which could cost as much as $500 billion over 10 years. Ms. Trump urged Republican lawmakers to consider her plan when writing a tax overhaul, a project that President Trump says is coming soon.

Ms. Trump's proposal is very similar to the plan proposed by Mr. Trump in September: Child-care expenses for individuals earning less than $250,000 annually (or couples earning less than $500,000 annually) would be deductible from income taxes. Critics of the plan have argued that the threshold is too high and could amount to a subsidy for wealthy Americans at the expense of low-income families who do not make enough money to qualify for tax deductions.

According to a 2015 report from the Tax Policy Center, a nonpartisan research group, 45 percent of Americans don’t make enough money each year to pay federal income taxes in the first place. Mr. Trump’s plan last fall included a higher earned income tax credit for low-income families who don’t qualify for a deduction, essentially giving these families a tax credit.

“Ivanka Trump’s involvement in tax negotiations between the White House and congressional Republicans is a signal of her influence with her father despite having no formal role in his administration,” writes Bloomberg.
Trump's biggest executive actions, explained

Although federal nepotism laws enacted after former President John F. Kennedy appointed his brother to attorney general prohibit Trump from hiring any family member to an agency or office he oversees, Ms. Trump's opinions have long been reported as valuable to the president.

On the issue of child care, however, Ms. Trump has conveyed a particular passion for reform as well as noteworthy sway with the president. During her speech at the July 2016 Republican convention, Ms. Trump promised that her father would “focus on making quality child care affordable and accessible for all” as president.

And later in September while on the campaign trail in Pennsylvania, Mr. Trump announced a set of policy proposals to make child-care expenses tax deductible for families earning less than $500,000 a year – with Ms. Trump by his side.

Former Democratic presidential candidate Hillary Clinton criticized Mr. Trump’s plan for child-care reform, arguing that his plan did not do enough to help low-income families. But the fact that candidates of both parties broached the issue attests to impact of rising child-care costs. A report last month from the US Department of Agriculture found that raising a child from birth in 2015 through the age of 17 costs $233,610 – a 3 percent increase from the year before.

“Little focus has been put on how best to alleviate enormous financial burdens child care places on low-income and middle-income families,” said Ms. Trump at the September rally before introducing her father.

But opponents say Ms. Trump's plan fails to do just that.

“[T]he child-care deduction Ivanka and her father are putting forward represents a droplet of progress in how GOP leaders discuss the choices women make about work and family,” writes Slate, the left-leaning news outlet.
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Alan Cole, an economist with the Tax Foundation, a nonpartisan research group, has similar concerns.

“The child care proposal is generous and broad; almost everyone with young children will get some benefit from it,” Mr. Cole told Bloomberg. “However, the largest benefits will go to relatively affluent dual-income families using paid child care.”

[I Push Buttons]

Those poor couples making $498,000 a year. I am surprised they can even afford to have kids in the first place.

[Sanguiris]

Who the hell voted for her anyways

[Pwellzor]

this mostly incentivizes well off parents to never spend any time with their children, ever.

[PACOX]

Didn't we just have a thread where Donald sympathizers shit all over soldiers that couldn't get healthcare for their kids?

For everyone earning less than $500k a year? What?!? Who the fuck is making $500k AND needs subsidized childcare?

[Felya]

It's the same as Trump's healthcare plans of premiums being tax deductible. The subsidie's impact scales up on wealth, as you need sufficient taxable income to get the most out of it.

[Acidbaron]

Socialism for the rich.

[Paranoid Android]

That is an incredibly unreasonable threshold. It's almost like she lives in some sort of bubble of wealth and privilege and has never had contact with the real world.

But those east coast or coastal elites!!!! oh wait.

[prwraith]

How is Ivanka pushing anything through? Was she elected somewhere, or confirmed by the senate?

[Allybeboba]

Firstly, we can already write off childcare on taxes. If you have the "flex spending" benefit from your employer you can actually pay it before taxes are decucted and double dip.

[Jtbrig7390]

Why is Ivanka pushing for anything? Who in the fuck voted her into anything.

Also 500k (couple) 250k+ Single Person at minimum to get this.....



She wants poor peoples tax's to pay for rich peoples kids daycare....that's just wtf...

In otherwords....Fuck you if you only make sub 250k and fuck you even more if you have to work two jobs, barely doing 30k a year.

[Mayhem]

#winning

right? RIGHT?

[Felya]

Why is Ivanka pushing for anything? Who in the fuck voted her into anything.

Also 500k (couple) 250k+ Single Person at minimum to get this...

Maximum, not minimum... and no +...

[NYC17]

How is Ivanka pushing anything through? Was she elected somewhere, or confirmed by the senate?

Yea, it's not like her father, who may or may not have a weird obsession with her, is president or anything.

[prwraith]

Yea, it's not like her father, who may or may not have a weird obsession with her, is president or anything.

Don't we have some law that says you can't show favortism to your familys agenda (outside of the first lady)

[Cancun]

If everyone below 500k gets the deduction, why is it only for the rich? The Earned Income Credit lets you get a refund for more than you put in. This could work the same way, and it would then be, in effect, a subsidy for the poor.

From the article: "Mr. Trump’s plan last fall included a higher earned income tax credit for low-income families who don’t qualify for a deduction, essentially giving these families a tax credit."

It would seem Trump is open to the idea of tax refunds that exceed what is paid in, so the argument that only the rich benefit, remains to be seen.

[Deleted]

Don't we have some law that says you can't show favortism to your familys agenda (outside of the first lady)

I think you'll be finding as time goes by that these "laws" of which you speak won't stop God-Emperor Trump.

They're fake laws! He's going to make better ones. Yuge ones.

[Blur4stuff]

This is related to something I've had a hard time understanding about conservatives for... maybe twenty years now. They push hard for family values. They like the idea of a man and a woman being married and starting a family. That's the christian way.

It seems like those ideals should go hand in hand with making sure one parent can support at least a small family so the other parent can raise the children. Maybe at most the second parent would have to take a very limited part time job. When america was "great" several decades ago that was a lot more common.

But they don't do very much legislatively to make that kind of life possible?

[NYC17]

If everyone below 500k gets the deduction, why is it only for the rich? The Earned Income Credit lets you get a refund for more than you put in. This could work the same way, and it would then be, in effect, a subsidy for the poor.

From the article: "Mr. Trump’s plan last fall included a higher earned income tax credit for low-income families who don’t qualify for a deduction, essentially giving these families a tax credit."

It would seem Trump is open to the idea of tax refunds that exceed what is paid in, so the argument that only the rich benefit, remains to be seen.

The EIC income requirements are a lot stricter than this proposed nonsense.

[Moshots]

I mean a woman making 30k and a woman making 250k still only get the same subsidy back so not sure why people are only looking at that complaining its not like the 250k is getting 5x more back or something... This is something that is needed and keeps the woman who only making 10-40k away from going back to work... If your gonna pay 10k a year in child care now then there is no reason for these women to go back to work its cheaper to just keep them at home and that's what need to be changed.

as to the OP's article claiming 45% of people in America not making enough to pay federal taxes and this having no effect that is the biggest load of bull ive ever read... the cutoff to chose whether to file taxes is like 7k and the standard deduction is only like 6500 before income becomes taxable.... your telling me 1 in every 2 people in America make less than a burger joint employee working only 20 hours a week??????????? are they counting people aged 1-16 into this or something???