Senator Mitt Romney ( R-Utah) is proposing legislation called the " Family Security Act" which would provide a monthly cash benefit for families amount to $350 per month for each "young child" and a $250 for each "school aged child". To pay for the the new child allowance plan he proposes eliminating the state tax deduction ( FYI - The state tax deduction is already limited to $10,000, The state tax deduction which we will learn more about in Ch.5 consists of state taxes and property taxes as well as personal property taxes, California is one of the states with the highest state and property taxes) . Romney believes that that the state tax deduction mostly benefits the "wealthy" . He would also get rid of the Head of Household Filing Status and eliminate the Child and Dependent Credit and reduce the Earned Income Tax Credit ( EIC). His plan would increase spending by $66 BILLION and increase taxes by $46.4 BILLION.

Discuss whether you agree or disagree with his new proposed plan? Do you believe and support the idea of Universal Basic Income? Should this basic income be taxable ? Should welfare be taxable ? What about taxpayers who have no children or can't claim their children anymore ? Is it fair to them.? Is this Political grandstanding ? What about tax payers who pay their property taxes ?