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promises credit, credits, loans

English translation: tax credits

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13:40 Sep 4, 2008
English to English translations [PRO]
Business/Commerce (general) / usage
English term or phrase: promises credit, credits, loans
proofreading
Barack Obama promises credits to help pay college tuition.

Is the word credit countable or uncountable?
thanks in advance.
Lakasa Stnorden
Local time: 13:21
English translation:tax credits
Explanation:
Obama promises tax credits (value yet unknown) for college - it would enable (a percentage of) college tuition to be a tax credit, a deduction of taxes due.

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Note added at 5 hrs (2008-09-04 19:34:46 GMT)
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A note about tax credits ~ The US Government will not loan tuition money to citizens, though it may elect to guarantee bank loans for students.

A tax credit is either refundable or non-refundable. If it is refundable, it means that the tax credit can reduce the tax owed below zero, and result in a net payment to the taxpayer beyond their own payments into the tax system. If it is non-refundable, it cannot reduce the tax owed below zero. In past efforts to allot tax credits for tuition, the tax credit was non-refundable, and it is doubtful if that factor would change.

Ken points out that 'credit' can be either 'countable or uncountable', depending on the specific meaning, which is certainly true. It's hard to apply either toward the context given. A tuition tax credit will not be countable (as income or an asset) nor will it be uncountable, as in a loan to the parent for tuition. It will be a deduction against taxes due to be paid to the IRS. Or it could be offered as tax free interest on personal savings towards tuition.
Selected response from:

Demi Ebrite
United States
Local time: 11:21
Grading comment
thanks.
4 KudoZ points were awarded for this answer

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Summary of answers provided
4 +3tax credits
Demi Ebrite


Discussion entries: 1





  

Answers


27 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +3
tax credits


Explanation:
Obama promises tax credits (value yet unknown) for college - it would enable (a percentage of) college tuition to be a tax credit, a deduction of taxes due.

--------------------------------------------------
Note added at 5 hrs (2008-09-04 19:34:46 GMT)
--------------------------------------------------

A note about tax credits ~ The US Government will not loan tuition money to citizens, though it may elect to guarantee bank loans for students.

A tax credit is either refundable or non-refundable. If it is refundable, it means that the tax credit can reduce the tax owed below zero, and result in a net payment to the taxpayer beyond their own payments into the tax system. If it is non-refundable, it cannot reduce the tax owed below zero. In past efforts to allot tax credits for tuition, the tax credit was non-refundable, and it is doubtful if that factor would change.

Ken points out that 'credit' can be either 'countable or uncountable', depending on the specific meaning, which is certainly true. It's hard to apply either toward the context given. A tuition tax credit will not be countable (as income or an asset) nor will it be uncountable, as in a loan to the parent for tuition. It will be a deduction against taxes due to be paid to the IRS. Or it could be offered as tax free interest on personal savings towards tuition.

Demi Ebrite
United States
Local time: 11:21
Specializes in field
Native speaker of: Native in EnglishEnglish
PRO pts in category: 40
Grading comment
thanks.

Peer comments on this answer (and responses from the answerer)
agree  Jack Doughty
3 mins
  -> Thank you, Jack

agree  Ken Cox: and to answer Lakasa's other question, 'credit' can be either countable or non-countable, depending on the specific meaning.
13 mins
  -> Thank you, Ken - I see that I have not addressed that fully.

agree  Aurelio111: but remember they forget,or meant diiferent
2 hrs
  -> Thank you, Aurelio111 - with campaigning politicians, anything can be 'said or promised' with only good intentions and a vague idea of how to actually fulfill the promise.
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