Rearing children and the burden of costs

June 26th, 2010 by admin

Are tax deductibles per child sufficient to cover an entire years’ cost of raising them?  Many of you might not agree with this.  The costs and standard of living, in one way or another, increases every year.  A 5-year old would not eat as much when he or she hits 10.  Clothes, uniform and shoes usually have to be bought every year!  Not only that; prices also increase almost every year!  They say that from birth until school age is the costliest stage in raising children.  It is costly because children are so delicate at that stage and it is often the medical attention they get is what really costs much.

 

When children reach school age, medical attention costs decrease but the cost for child benefit payments come in.  Baby or toddlers health and medical care become a lesser concern but they are exposed more to accident risks when start moving around by themselves!  This is a simple case of shifting practically a cost from previous necessary need to a current need that might even be costlier.  That does not narrate to lower maintenance expenses.  Tax deductible per child does not increase yearly if school tuition fees increase yearly.  A government’s internal revenue service might think it is too cumbersome to make adjustments yearly.

 

To the internal revenue service, forget about making adjustments on times needed.  Make a sliding or graduated rate based on range of income.  If that one is still a ‘too difficult task’, then allow for children’s tax credit!  What matters here is to make changes that would be practical in the lives of a family.  True, taxes are the life-blood of a country.  The government should also consider that blood should run in the veins of the taxpayers.  Allow them to live in normal comfort to earn and pay reasonable taxes



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