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Big deal $10

in Child Tax Credit, Money

Big Deal $10, that was the response I got from more than one person I spoke with about the new child tax credit. They lamented how it wasn’t very much money, and why should they be bothered getting the tax removed at the source (and just wait for it as a nice rebate in March of next year). If you agree with that, I’d like to point out:

  1. To me with 4 kids it is actually $40 so per pay cheque, which I view as significant, maybe I am funny that way.
  2. Why do you want to loan the government more money (at 0% interest)? If you want to do that just put the money in your chequing account.
  3. If you think $10 is no big deal, send me $10 every two weeks, I’ll figure out what to do with it.

It’s always interesting to see how folks are so intense about saving hundreds of dollars in a few areas, but saving $10 in a lot of places, just doesn’t interest them? I can’t be bothered to get an extra couple of bucks? The amount of work I had to do was fill in a form and e-mail it to my HR group, and that was it. Interesting how people value money.

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  • working July 25, 2007, 10:31 AM

    I agree 100% I’m not willing to loan my money to the government for a year. By taking the tax credit now my pay jumped $36 for 3 kids basically like giving myself a raise.

  • Big Cajun Man July 24, 2007, 3:59 AM

    Both points well put!!


  • Matt July 24, 2007, 3:21 AM

    Even if $10 might not be a big amount in the grand scheme of things it does help towards paying for the cost of raising kids.

    The other thing is that add that $10 with all the other small minuscule amounts over time and you’ll find that it can add up to something significantly larger.

  • White Eagle July 23, 2007, 12:07 PM

    I find it amazing to hear people say “Deduct all my taxes now so I don’t have to worry about it later” and then they’re so happy when they get a tax rebate in the spring.

    I’m in the same boat as you… I’d rather keep my money and earn the interest rather than seeing the government making money off of my hard-earned cash.

  • Traciatim July 23, 2007, 2:58 PM

    I’ve treid to explain the ‘interest free loan’ to a few people at work. I try and try to get them to switch to an automatic saving plan through their bank of choice to no avail. Some people I think you just can’t win.


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