Posted on 11/08/2017 12:41:30 PM PST by WVMnteer
House Speaker Paul Ryan (R-WI) defended the repeal of the adoption tax credit in the GOP’s current tax reform bill Wednesday following pushback from fellow Republicans and pro-life organizations.
"It is a tax credit that goes to higher income individuals. Middle and lower income people don't get it today," Ryan said during a discussion on the tax reform bill held by the Washington Examiner.
(Excerpt) Read more at townhall.com ...
Adoption tax credit?? Where do these breaks come from?
We used it when we adopted our two children from overseas. I think it was a $1000 tax credit. Cost of adopting two children from overseas was in excess of $50k. You had to submit receipts in order to get the credit.
All of the tax credits and deductions need to go.
Social engineering by tax code always ends up in fraud.
House Speaker Paul Ryan needs to be former House Speaker.
They are intended to envourage people to adopt
As long as a kid is a ward of the state you pay his medical bills and for all special services which are often pretty high
Once a kid is adopted the family is on the hook
Big risk in adopting special needs kids
What a retard.
Not a fan of social engineering but that wasn’t his argument. Adopting benefits the government as it reduces single parent households and future welfare benefits. Also benefits the child.
For Ryan it is all about not getting criticized by big media for helping the rich. He can’t do anything for social conservatives nor a pro-growth agenda if it has a favorable impact on rich. Might as well vote Democrat as he is killing the brand.
From an economic perspective, eliminating it for foreign adoptions makes sense but not domestic. But that wasn’t his argument. His argument was it benefits the rich.
I wonder if they are keeping the Earned Income tax credit that the illegals abuse. Any bets?
The adoption tax credit is stupid and needs to go.
We need to strengthen traditional middle class nuclear families of people who are biologically related.
One should vote Democrat in Ryan’s case for sure. Support a more conservative candidate against Ryan when the primary comes around and then vote him out if that fails. It needs to be made impossible for liberal Republicans to maintain power.
I’m a huge supporter of the American nuclear family but I don’t think this tax credit is a threat to it. On the contrary, it should make unwanted children more stable and successful.
RE: “It is a tax credit that goes to higher income individuals. Middle and lower income people don’t get it today,”
What the heck is this obsession with punishing higher income people even when they are doing a good deed?
Why have the Republicans become the class warfare party as well? Et Tu Paul Ryan?
Why not? Chief Justice Roberts already used his.
i don’t believe this is true. at least in indiana adopting parents of special needs children can get medicaid and other financial assistance if needed
Getting rid of deductions is another way of saying, RAISING TAXES. The GOP is raising taxes on middle class to pay for business tax cuts. Instead of paying for them by CUTTING SPENDING
Because kids in the SYSTEM cost us nothing?
And who pays for that?
More social engineering with taxpayer dollars as some critics here suggest?
The whole tax system is social engineering!
When did you adopt? My wife and I adopted a sibling group out of CPS and were able to get a credit of $13K per child - though we had to spread it over three years.
Without it, I don’t think we would have adopted the three children, because the expense we were taking on was a little scary.
If Paul Ryan wants to play this class warfare game, he’s going to lose. He could put the estate tax back in place, double the tax credit, and come out ahead on revenue.
If we’re going to play the game of who deserves tax breaks, I put myself and my three kids ahead of the Trump kids.
Former Speaker sounds just right!!
That bozo needs to go, like yesterday!!!!!!!!
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