Andrew P. Hunter said "If you are out there and you have two kids, you multiply two kids times $500 apiece, and that is $1,000. You deduct that from what you paid on April 15, so if you paid $1,000 on April 15 and you have two children, under the tax cuts that the Republicans passed but that President Clinton killed, two times $500 is $1,000. At the bottom line on your 1040 you would have deducted $1,000 from the $1,000 you owed and you would have paid no taxes. That means you would have had $1,000 in your pocket for maybe the last half of that mortgage payment you were having trouble making, maybe the education fund for your daughter who is 15, who will soon be going off to college, maybe $1,000 to put that down payment down on the lot outside of Phoenix, AZ, or San Diego, CA, where you want to build a house someday. That is the tax cut for the rich." @ PoliticalQuotes.com

On the recordMay 22, 1996

If you are out there and you have two kids, you multiply two kids times $500 apiece, and that is $1,000. You deduct that from what you paid on April 15, so if you paid $1,000 on April 15 and you have two children, under the tax cuts that the Republicans passed but that President Clinton killed, two times $500 is $1,000. At the bottom line on your 1040 you would have deducted $1,000 from the $1,000 you owed and you would have paid no taxes. That means you would have had $1,000 in your pocket for maybe the last half of that mortgage payment you were having trouble making, maybe the education fund for your daughter who is 15, who will soon be going off to college, maybe $1,000 to put that down payment down on the lot outside of Phoenix, AZ, or San Diego, CA, where you want to build a house someday. That is the tax cut for the rich.

Said by

Andrew P. Hunter

Illinois

Source

govinfo.gov

Editor's note · Context

Discussing the impact of tax cuts on families during a debate on tax policy.

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