Ideas for Improving America
Lease this WebApp and get rid of the ads.
David F Mayer
It cannot work that way.
Tue Nov 20, 2012 1:32pm

This leads to income transference.

Daddy puts income producing assets into name of minor, who thereby becomes a taxpayer and creates an exemption.

Besides, we need to recognize that kids cost money. A family with two kids is not causing a population explosion.

Any attempt to change the number of exemptions by attribution to taxpayers only is doomed to fail by the reasoning above.

David F Mayer

  • No.PureStevil, Tue Nov 20 11:27am
    Allowing deductions for children removes a portion of the financial responsibility of the decision to have a child. There are plenty of people on earth. If you want to add to that, then you and you... more
    • It cannot work that way. — David F Mayer, Tue Nov 20 1:32pm
      • Why would we allow you to "transfer" income?Sprout, Tue Nov 20 4:21pm
        Your income is your income, and you pay taxes on ALL of it... If you LATER give some of that money to your child, that is fine. Then the child has income and must pay income taxes on ALL he gets...
        • Hoist on my own petard. I yield.David F Mayer, Tue Nov 20 9:21pm
          You are correct. This would amount to a deduction. Opening the door for JUST ONE deduction, opens it for thousands. Thanks for pointing out my error. David F Mayer
Click here to receive daily updates
Tell your friends about this board