$12,000 per American Child "Obama Tax Cut Plan would Increase Taxes for the Poor"

"...the plan would actually slightly increase taxes for the poorest Americans, economists say -- at a time when some leaders in Washington are trying to bring attention to the nation's widening income disparity.

...the "Make Work Pay" credit enacted under Mr. Obama's stimulus plan would be allowed to expire, and a one-year payroll tax cut would be enacted in its place.

Those on the bottom rung of the income ladder, however, are at a disadvantage. Individuals making under $20,000 per year or households making under $40,000 would receive more money from the "Make Work Pay" credit, since the two percent payroll tax cut would amount to less than $400 or $800.

The difference amounts to just a couple hundred dollars per year...

..."A few dollars a week can mean your bus fare getting to work"...

"If you're making only making $10,000 a year, you're only getting $200 a week
-- and $4 out of $200 is serious money"

"It is a big deal if it's the difference between having lunch one day or not having lunch that day,
or putting breakfast on the table for the kids."

...Mr. Obama campaigned on the platform of revising the tax code to address income disparity.

"This turns that on its head""

Stephanie Condon