11-16-2014, 02:14 AM
Be prepared to have Less deduction on your tax return for 2014 tax return.
The move, long championed by entitlement reform advocates like congressman Paul Ryan R-Wisconsin and Ted Cruz R-Texas, will cut entitlement payouts by a staggering 177 billion dollars. 54.33 billion dollars in savings will be realized from discontinuing the earned income tax credit, which generally pays those making less than 12 thousand dollars yearly large cash tax rebates far in excess of the actual tax they paid. 69.7 billion will be saved from the mortgage interest tax deduction, which critics say primarily favors top income earners.
The elimination of the child tax credit, which critics say serves no fair purpose, will result in an additional 54 billion dollar savings. -
“The slumbering giants of capitalism will arise from their torpor and rain manna of capital fulfillment on the people from their Plutocratic heights. And that, my friends, is the new American Dream.”
- See more at: http://nationalreport.net/congress-elimi...GP7wJ.dpuf
The move, long championed by entitlement reform advocates like congressman Paul Ryan R-Wisconsin and Ted Cruz R-Texas, will cut entitlement payouts by a staggering 177 billion dollars. 54.33 billion dollars in savings will be realized from discontinuing the earned income tax credit, which generally pays those making less than 12 thousand dollars yearly large cash tax rebates far in excess of the actual tax they paid. 69.7 billion will be saved from the mortgage interest tax deduction, which critics say primarily favors top income earners.
The elimination of the child tax credit, which critics say serves no fair purpose, will result in an additional 54 billion dollar savings. -
“The slumbering giants of capitalism will arise from their torpor and rain manna of capital fulfillment on the people from their Plutocratic heights. And that, my friends, is the new American Dream.”
- See more at: http://nationalreport.net/congress-elimi...GP7wJ.dpuf