Also, where's Hillary plan for working families? His plan will make almost all childcare costs tax deductable, saving working families hundreds and sometimes thousands per year. It's a plan that could change the lives of lower and middle income families across the country. It would change for the better, the way my family lives.
https://www.theguardian.com/commentisfree/2016/sep/15/trumps-childcare-plan-good-for-rich-what-about-rest-of-us
As many have pointed out, the value of a tax deduction is directly linked to the tax rate you pay. Under Trump’s plan, wealthy families making $500,000 would get a child care tax break of about $40 for every $100 they pay for child care. Meanwhile, families making $60,000 would only get $15 for every $100 spent on child care. Even if a middle-class family spends the same amount as a wealthy family for child care, the wealthy family’s tax cut is much larger.
Trump’s plan completely fails to address the day-to-day realities of America’s working families, because it fails to address the underlying problem: it does nothing to make child care affordable. In the United States, the average cost of center-based child care for the typical working family with an infant and preschooler is about $18,000, a steep price for families to cover. If a family cannot afford child care, a tax deduction is irrelevant – a family can’t deduct something that they can’t pay for to begin with.
The same flaw applies to the $1,200 rebate aimed at low-income families under Trump’s plan. In response to criticism that his plan is a windfall for the wealthiest families, Trump is looking to appeal to struggling Americans, but this just won’t cut it. A credit of $1,200 would be perfect if the goal was to help families afford childcare for a month, not a year.
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In stark contrast to Donald Trump’s childcare plan is that put forth by his opponent Hillary Clinton, which zeros in on the issue of affordability. Clinton’s plan aims to ease the financial strain of childcare for all families by capping costs at 10% of household income, while also increasing wages for childcare providers. Her plan – which has been publicly available for a year and was formally announced at a campaign event in May – prioritizes families that need the most help and would in fact make childcare more affordable. Clinton also prioritizes improving childcare quality with a plan to address chronically low wages and training for childcare providers.
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