Hillary Clinton to Propose Tax Credit for Caregivers
Source: TIME
Sam Frizell @Sam_Frizell
12:01 PM ET
Hillary Clinton will propose a new tax credit for caregivers, adding to a series of middle-class tax cuts the Democratic frontrunner has announced this campaign.
The tax credit proposal, which Clinton will announce on Sunday afternoon in Clinton, IA, would give families up to $6,000 in caregiving costs for their elderly family members, according to a preview of the plan provided by an aide.
Clinton will also call for caregivers to earn credit toward their Social Security retirement benefits when they are not working, and propose investing $100 million over 10 years in a grants program for family caregivers.
Caregiving can be a win-win for the family and for our overall health system, the Clinton campaign said in a white paper. It enables seniors to remain in their own homes, maintain independence, save costs, and still obtain the support they need.
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Read more: http://time.com/4123569/hillary-clinton-caregivers-tax-credit/
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Hillary Clinton speaks at the School of Visual Arts in New York City on Nov. 19, 2015.
msongs
(67,417 posts)$$$$$$$$ give $$$$$$$$$$$$$$$
REALforever
(69 posts)Just worrying about the poor shows a bias because Hillary is trying to do something that would help MILLIONS and is a basic DEMOCRAT principle
Politicalboi
(15,189 posts)Going on my 5th year with no pay to increase my SSI benefits.
asjr
(10,479 posts)but does receive commodities. She does also receive Tenn Care which helps her when surgery or a physician is needed. But she only receives $600 a month and paying rent doesn't leave her much. There are so many like her. The price of groceries have risen so high it is difficult going food shopping.
LiberalArkie
(15,719 posts)people with nice income can apply all the deductions and take the credits.
PSPS
(13,601 posts)All a "tax credit" does, assuming the person is paying federal income taxes to begin with (most people pay little or no federal income tax today,) is provide a way to launder taxpayer money through the recipient of the credit directly to the CEO providing whatever service or product for which the credit is supposed to compensate.
Instead of more meaningless "tax credits," what we need are higher wages and making the rich not only pay their damn taxes, but go back to a meaningful graduated income tax with confiscatory rates on every dollar over, say, $2 million a year. Nobody needs or deserves to make more than $2 million a year. Nobody.
Tax cuts are the corporate way of running the government. Millions of seniors are barely getting by and this year-no increase in SS. Tax cuts don't mean shit to most Americans.
Ferd Berfel
(3,687 posts)Taking another side-step to the right? That's the Goldwater Girl in ya kiddo.
TM99
(8,352 posts)Up to $6000.00 a tax year means not everyone will get that full amount.
That is $500.00 a month to care-take an aging relative. That isn't shit!
GW Bush loved tax credits. I guess Clinton is in good company.
karynnj
(59,504 posts)Last edited Sun Nov 22, 2015, 05:00 PM - Edit history (1)
https://www.washingtonpost.com/news/post-politics/wp/2015/11/22/clinton-backs-tax-credit-of-up-to-6000-to-help-those-caring-for-elderly-relatives/Two things it seems to do are:
1) To allow the Social Security system to assign a "credit" for unpaid work taking care of an elderly relative. (That will benefit those who - mostly women - who do this.)
2) Allow a tax credit that will defray part of up to $6000 in out of pocket expenses incurred as an in family caregiver.
I think that especially the first provision is interesting and it may help people too poor to do anything other than having someone in the family provide care. These are people who when they reach retirement age would have very little credit - thus very low social security benefits.