The Forgotten Families of the GOP tax plan
Forget the Grinch and Ebenezer Scrooge, the GOP tax plan has taken away all our Christmas spirit. President Trump keeps saying this is a present to American Families, I hope he includes a gift receipt so I can take it back. This new tax plan will crush my large family financially. Here is our story…
We have 9 children (13 years and under) and we are a one income family. My husband started his own company 2 years ago. We make what we consider a good living. We own a home, two cars, and we have a dog. Our kids attend public school and play soccer and basketball. They dance and perform in community plays. We qualify to itemize our deductions and we are not subject to the Alternative Minimum Tax schedule. Under current tax law, we are able to exempt $4,050 per dependent and we do not qualify for the child tax credit because of the income means test.
Under the current GOP tax plan proposal, we will lose the ability to take the individual exemptions and our tax liability is only partially offset by the reduced tax bracket. Our tax rules should place an emphasis on a family’s ability to pay, not willingness. I can assure you that the current $4,050 exemption is far less than the economic impact we make per child annually. Today, we have no money left at the end of each month. Our mortgage, health insurance, and food bills alone comprise 90% of our take home pay. Even with the last minute changes to the child tax credit we will have an increased tax liability, I have no idea how we will miracle the money to pay for this difference, which will translate to a reduction in our take home pay.
America is not made up of averages. We don’t all have 2 kids and a white picket fence. Please understand that large families make huge contributions to our economy. We literally have to spend every dime we make to support our family. Every dollar more we pay in taxes will reduce the amount of money we put into our community. In our case, which not everyone will be sympathetic to, our kids will no longer be able to participate in after school activities. We’ll have to tighten our belts even further on the food we put on the table and we’ll certainly not be able to save for retirement or our children’s education. This is real, not hyperbole.
Up until recently, I was not a political person. I voted in elections and that was the extent of my political involvement. I am ashamed to say that if it was not going on at our dinner table I was not aware of it. This tax bill will affect our dinner table and our ability to take care of our family financially. I feel scared and helpless to change what is coming. I have contacted my state Senators and Representative, I don’t know where else to turn.
I feel like I am on a sinking ship and this is my eleventh hour distress call. I know no one will answer this call, but I had to make one last plea. If anyone is listening, scrap this tax plan. This tax plan will hurt American families of all sizes.
Jane (Mom of 9 in VA)