Okay, I've known for a long time that we can't afford kids yet. I mean we can, but not comfortably. Anyway this year I realized that with each child if you are married and make less than $110k, you are able to get a $700/per child tax credit. Insane.
Sure it costs more to have kids, but on a message board someone is getting $9k back from the government on top of not paying any taxes. Holy Cow. Here's the woman's post "Yes, you can definately get back more than you pay in.We have 8 children and hubby claims 10 on his W4 so they hardly take out anything and our return (fed. and state) is almost $9000 this year! Rebuilding EF, paying off son's private school tuition for the year, and the van!!!"
I am okay with people not paying taxes, when we pay a lot. However I wonder if it's fair to get back so much when they pay nothing in? It makes me wonder if someone pays no taxes, makes $60k and gets a $9k refund doesn't that mean they are making substantially more than someone who has 1 or no kids making the same? Does it equal out having kids and paying less taxes?
I don't know. I guess it just got me thinking that having kids really isn't as expensive as people think. With these tax credit and incentives, it seems like we're encouraged to have children. But this is all hypothetical. Mainly it's coming because I'm sad at how much in taxes we have to pay. But for what it's worth, it's because we chose to live in a high cost of living area. So I'll accept full responsibility for that, until we are able to chose to live in a cheaper area.