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How Has The New Tax Legislation Impact You?

I Had a visit with my long time Tax professional, AKA my Aunt who is also a corporate accountant for Halliburton.

She informed me that my tax rate will remain basically the same.
I don't mind paying more in taxes as I am a bit of a socialist who support programs for Kids and the Elderly.I guess its the Canadian in me!

I do have an issue with being penalized and paying more in taxes for being single with no dependents.

People get pissed when I say this but having Kids is a decision which can create Debt. I equate having a kid to making any large purchase that creates debt. With that being said, why is a child Tax credit available? Why isnt there a Tax credit for people without Kids?

What are your Thoughts...

twshield 8 Feb 25

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5 comments

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1

I'm on Social Security and don't pay any income taxes. However, I believe that the tax rates are a scam perpetuated to give relief to the wealthy and a burden to everyone else.

well this recent tax law is for sure

Exactly. $20,000 to a Billionaire is a drop in a bucket. That same 20K is a lifeline for an impoverished family. Nowhere is “the relative value of money” - discussed... or factored in, it seems.

1

I will be happy when they start taxing the business of churches and when the creeps like Joel Osteen and the rest of them pay taxes. Im in Canada, we pay pretty high taxes here, liquor is taxed big time as well as pretty much everything else. I have to work real hard to support all the deadbeats that live off the government tit.

Not gonna happen

Sadly

3

I pay a little less now, but it'll end up costing me more in the long run.

I don't mind the kid thing as much but losing the interest on my student loans pissed me off the first time it happened. I'm penalized because I used the education I borrowed to pay for to establish a successful career. Not having to support a child is priceless.

i can imagine! student loan debt is crazy and it doesnt have to be that way....Greed!

1

I agree!! Why not be rewarded for not having burdens on the public system?

I have no problem with anyone having children.

thats what i am saying!

@sarahjustme well it was you and her dad that decided to have her not the rest of the country. I will concede that she may be meant to do great things like you say.

@sarahjustme i agree for the most part. In canada you are not thrown away when you are elderly. Kids have access to healthcare like everyone else. Yes my parents paid more taxes but it was going to a good cause....humanity

0

The government is trying to incentivise family units. That is why married couples with kids are put to the front of the line to the cash cow. Look at welfare queens, they are only having kids because they are irresponsible and don't want to contribute to society. I know one single mom who has 6 kids and never worked a day in her life. She spends that government money on herself and her drug habit. She's now on heroin, drinks smokes and is pregnant with #7. This has to stop.

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