2 Sep 2023 5:29 am
Dammit, tens of millions of ordinary working people with children get large earned income tax credit checks each spring and have since Ronald Reagan.BuckNaked » 01 Sep 2023, 11:23 am » wrote: ↑ a credit is a deduction not money you can take and spend where you want
A medium business with say 100 employees.
Their payroll will be $40,000 times 100 a year, or four million dollars.
Smd lets say they only profit $400,000, and owe $100,000 taxes.
They will get up to a $400,000 check from Uncle Joe, as a credit, and keep all $400,000 profit.
But no, they can’t ship the jobs to Mexico, they get zero credits for that.