Biden vows tax credit will put '720 million women' back in workforce

[officeguy]

He may, however, be thinking of an outright GRANT of money for childcare - I forget the term - where it's just 8k, period, irrespective of however much you pay in taxes. I could probably think of a dozen ways that won't work - for one thing, if someone gets a lump sum in their mailbox intended to cover a year's costs in childcare - more than likely it's not going there. Understandably money is fungible, but most people budget month to month, not yearly. The current method works just fine. The best way to implement it is to increase the reimbursement rate for the dependent care credit.

I don't know what's bouncing around in his empty head. But yes, a 'refundable tax credit' similar to EITC. Less than 50% of filers pay any federal income tax to start with , so a regular credit doesn't do them any good. A refundable credit pays anyway. Not really a credit but a subsidy.

 

[BOP]

"You get a tax break for a racehorse, why in God's name couldn't we provide an $8,000 tax credit for everybody who has childcare costs?" Biden told the crowd. "It would put 720 million women back in the workforce. It would increase the GDP, to sound like a wonk here, by about eight-tenths of one percent. It would grow the economy."

Biden vows tax credit will put '720 million women' back in workforce

Former Vice President Joe Biden made another blunder on Tuesday, this time for suggesting that his child tax credit plan will put "720 million women" back into the workforce.

www.foxnews.com

Putting hookers to work, legally. Make America Great Again, Joe!

Just to point out the stunningly obvious...

1. There is no "free stuff" listed in the article.

2. Trump has said he would propose a new middle class tax cut before the election...

So, nothing about the fact that there are only about 330 Million people in this country, huh? What was that about pointing out the stunningly obvious? Bueller? Anybody?