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CNN - realpeople

Paid for by Gore/Lieberman, Inc.
4
(1) A FAMILY WITH TWO SMALL CHILDREN
MAKING $35,000
A couple from Michigan has two children ages 2 and 4. The husband earns $24,700 as a
short-order cook. The wife works full-time at the corner supermarket and earns the
minimum wage. They have two children, a 2 year old in childcare and a 4 year old who has
just started preschool. They are saving $10 every week for a down payment on a home.


Gore -
Lieberman
Bush -
Cheney
Difference
Tax Cuts for Working Families
1
Marriage Penalty Relief
$225
$154
+$71
Child / Childcare Tax Credit
$600
$61
2
+$539
Tax Credit for Savings
$500
$0
+$500
EITC Expansion
$303
$0
+$303
Other Tax Cuts
$0
$600
-$600
Total Tax Cut
$1,628
$815
+$813
Minimum Wage Increase
3
$2,000
$0
+$2,000
Expanding Health Coverage
4
$3,400
$1,667
+$1,733
Qualified Universal Pre-School
$2,400
5
$0
+$2,400
Total Savings For Families
$9,428
$2,482
+$6,946
1
See appendix for details on tax calculations.
2
The Gore-Lieberman proposal makes the childcare tax credit refundable, so this family enjoys the full benefit of the
expansion. The Bush-Cheney plan has a non-refundable child tax credit. Since this family has its tax liability eliminated, its
child tax credit would be greatly curtailed.
3
Al Gore and Joe Lieberman have proposed to increase the minimum wage by $1 from $5.15 an hour to $6.15 an hour.
4
See appendix for details on health calculations.
5
This is the estimated savings on childcare. The value to the family could be even greater.

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