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Serious Thoughts

by Vikki Nelson

What if there was tax relief for the American woman, too - as a homemaker and in the job market?

* Child credit - The mothers of 41 million children across the fifty states will be able to keep more of their own money. The child credit is money they desperately need to make ends meet. Money that can be used to pay for school clothes, groceries, or the unexpected expenses of raising kids we are all familiar with.

* Education incentive - Women and their families will also get help in sending their kids to college. Every mother knows that the cost of higher education is overwhelming. Generally, it is the mother that attends PTA meetings, picks the kids up from school and helps with the homework. This is why educational opportunities for their children are so important to women.

* Retirement savings - Women are also provided additional options to save for their retirement through expanded IRAs and 401s. The fact is, women live longer than men - and generally have less savings. The example for less savings is the mother makes choices between purchasing something for their daughter or son, many, many times, whether it’s something large or small, instead of putting into their savings or retirement. In the job market setting, imagine...

* Capital Gains - Women are starting businesses at twice the rate of men. A low capital gains tax leaves more vital capital in the hands of women-owned businesses, investors and women entrepreneurs. What makes this important to women? A survey of women-owned businesses found that the most common source of start-up funds was from personal savings. In fact, over 84% used personal savings and over 60% used personal savings as the only source of start-up money. You might ask, “Why personal funds?” The easy answer is that women did not - and do not - normally have credit lines, experiences, etc., therefore the lending institutions weren’t eager to “invest” start-up money for women. Furthermore, in the event of the death of the husband, where the woman could be left with the family home as her major asset, a reduction in tax on that asset is very important and most significant.

This does not have to be an imaginary idea or dream. Oh, and by the way, this could also apply to men that are responsible for the home and children and who also have to balance the demands of the job market.

It all makes too much sense! Don’t you think so, too?

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