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Tax cuts demand spending cuts

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SIOUX FALLS, S.D. (KELO AM) - Hillary Clinton's tax plan calls for doubling the child tax credit to $2,000 a child for families with kids ages four and under, while Donald Trump's child-care plan handles most of the benefit as a deduction.

Sioux Falls tax preparer Tim Ness says bringing less money into to the federal government demands that politicians say where they'll cut spending.

Ness says the cuts will have to come from somewhere.  He Trump calls for building up the military.  He says will they cut social programs such as welfare or Social Security Benefits, are they going to be touched?

Clinton says her proposed cuts would be funded by higher taxes on the wealthy already put forward.

Ness says as a dynamic, supposedly of these tax cuts, they will spur economic growth.  He says even though some Americans will be paying less, there will be more contributing to the federal government.

 


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