A child tax credit is the name for tax credits issued in some countries that depends on the number of dependent children in a family. The credit may depend on other factors as well: typically it depends on income level. For example, in the United States, only families making less than $110K per year may claim the full credit. In many US counties the median family income is more than $110K per year, so the income level of the family is a larger consideration than the number of children. For example, in 2009, the majority of families in Loudoun County, Virginia, made $110,600 or more and would therefore not receive the full credit. Similarly, in the United Kingdom the tax credit is only available for families making less than £42,000 per year.
Read more about Child Tax Credit: Germany, United Kingdom, United States
Famous quotes containing the words child, tax and/or credit:
“To be told that our child’s behavior is “normal” offers little solace when our feelings are badly hurt, or when we worry that his actions are harmful at the moment or may be injurious to his future. It does not help me as a parent nor lessen my worries when my child drives carelessly, even dangerously, if I am told that this is “normal” behavior for children of his age. I’d much prefer him to deviate from the norm and be a cautious driver!”
—Bruno Bettelheim (20th century)
“I come into the peace of wild things
who do not tax their lives with forethought
of grief.”
—Wendell Berry (b. 1934)
“To give money to a sufferer is only a come-off. It is only a postponement of the real payment, a bribe paid for silence, a credit system in which a paper promise to pay answers for the time instead of liquidation. We owe to man higher succors than food and fire. We owe to man.”
—Ralph Waldo Emerson (1803–1882)