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Politics : John McCain for President -- Ignore unavailable to you. Want to Upgrade?

To: Peter O'Brien who wrote (561)2/22/2000 12:44:00 PM
From: Bill  Respond to of 6579
 
That clearly explains it. Thanks.



To: Peter O'Brien who wrote (561)2/22/2000 12:45:00 PM
From: chalu2  Read Replies (1) | Respond to of 6579
 
It's hard to understand because the phase out of a credit is not the same as an extra tax.

A person making $110,000 with 7 children, no child tax credit and a 31% tax rate pays $34,300. There is no $10,000 levy against the income between $100,000 and $110,000. There is a $3100 levy. The failure for there to be a $7000 tax credit does not equate to a $10,000 tax.


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