The Federal Tax Credits Blog

Posts Tagged ‘income tax child credit 2010’

Question: Why do Obamabots still believe the middle class and poor will get tax cuts?

Obama has promised everyone making under $250k that they’ll get a tax cut. We know politicians lie though, and here is an obvious example. The $1000 per child tax credit families use to put more money in their pocket will expire in 2010 and Obama has promised to not renew it. A tax credit is much better than a tax cut! In 2010 poor and middle class families will actually lose the $1000 per child credit in essence raising their taxes dramatically! Even if Obama cut their tax rate they will still lose out on more money (slight of hand/smoke and mirrors/lies/whatever you want to call it).

Answer: When the Bush tax cuts expires in 2010, everyone including those making less than $250K will enjoy a tax hike.

Not to mention the tax added to electricity, natural gas, or auto registrations.

School expenses may qualify for tax credit

With the arrival of August, families with school-aged children are paying school registration fees and starting to buy school supplies.

2010, 2011 child tax credit Amount