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:
“The warped, distorted frame we have put around every Negro child from birth is around every white child also. Each is on a different side of the frame but each is pinioned there. And ... what cruelly shapes and cripples the personality of one is as cruelly shaping and crippling the personality of the other.”
—Lillian Smith (1897–1966)
“Parents are used to being made to feel guilty about...their contribution to the population problem, the school tax burden, and declining test scores. They expect to be blamed by teachers and psychologists, if not by police. And they will be blamed by the children themselves. It is hardy a wonder, then, that they withdraw into what used to be called “permissiveness” but is really neglect.”
—C. John Sommerville (20th century)
“Laws remain in credit not because they are just, but because they are laws. That is the mystic foundation of their authority; they have no other.”
—Michel de Montaigne (1533–1592)