The tax bill takes care of children. For families that leave more than $10,000,000.00 (ten million) dollars to their children, the new tax bill removes all inheritance taxes. Before, those poor kids had to pay some percentage of taxes on everything over ten million. Now it is all tax free.
|These kids no longer have to worry about someone taxing their inheritance over $10,000,000.00|
There is, of course a trade off. The Children's Health Insurance Program (or CHIP) ran out of money at the end of September. It effects only the children of working parents that make too much money to get any public assistance (like Medicare), but can't afford insurance for their Children. NOW, after this new tax plan - oops - there is no money for losers like working poor. As Orin Hatch said recently (highlights mine):
Of course I do. I don’t think I do everything on my own here. I’ve got to have good Democrat friends to do it. I don’t think you do either. But let me tell you something. We’re going to do CHIP, there’s no question about it in my mind. It has to be done the right way. But we -- the reason CHIP is having trouble is because we don’t have money anymore. We just add more and more spending and more and more spending, and you can look at the rest of the bill for the more and more spending. I happen to think CHIP has done a terrific job for for people who really needed the help. I have taken the position around here my whole Senate service. I believe in helping those who cannot help themselves but would if they could. I have a rough time wanting to spend billions and billions and trillions of dollars to help people who won’t help themselves, won’t lift a finger and expect the federal government to do everything.
|Sorry takers - no more gifts to you losers that don't don't lift a finger to work.|