Tax Credit or Bribery
The latest child tax credit is yet another effort to redistribute wealth in this country. It sounds good as a way to give people back some of their hard earned tax dollars. Normally, I applaud any effort to reduce the tax burden, but it is yet another poor policy decision. The budget deficit makes it clear we need to be reducing government benefits, not increasing them. The first order of business is to start taxing people (and businesses) in a uniform manner. The tax code needs to be scrapped, but this has already been discussed. The debt must be addressed and one way to do this is to reduce spending.
When government benefits are discussed, there is always a way to show need and value to new proposed benefits, but again, and I can’t stress this enough, without a wholesale review of how a person’s money is spent, it is difficult, if not impossible, to gage need. Another thing to keep in mind is – does it lift them out, or create a long term expectation. The later creates far more problems than it solves. We do this a lot and it is a huge factor in our current situation.
As a rationale person examining the credit, why is it needed? Sure, we all want more money and “free money” is great. As has been discussed in prior posts, there is no such thing as free money. Why does a couple making up to $150,000 need a child tax credit? Yes, kids are expensive, no doubt, but it is not like they got expensive last week or the day before coitus or birth. Most people realize kids costs money. If you and your spouse are making that kind of money, barring a few exceptions, you don’t need government help. That is not only a living wage, it is a pretty darn good wage. If you can’t make ends meet making that amount of money, you need some life and budgeting lessons, not a tax credit.
This is another problem with government support, it is easy to spend other people’s money, but we need to stand up and demand reasons. Logic has gone out the window. This tax credit is a redistribution plan and people should be outraged. It may benefit you now, but at some point in time, the spending must stop and people need to provide for themselves and their family. If society continues to subsidize some and wholly support others, fewer and fewer will be available to pay the bill. As the saying goes, Socialism is great until you run out of other people’s money.
Beyond redistribution, it creates reliance. It mitigates personal responsibility and creates a scapegoat for every obstacle. If the tax credit had been larger, my children could have had “more and better” opportunities. It is garbage. Wealth redistribution sounds great until it is your money paying the bills, and believe me, it is your money. Tax the rich is a great mantra but at some point, the rich leave or pass more laws to shelter more of their income. Hard working people who worked their way to more income are, and will continue to be, taxed to support those too lazy or unwilling to make it on their own. Until people realize the policy goal is to create a population which relies solely on, or in some way depends, on government support, we will make no progress. The fact a policy promoting government support has to be called out as bad, illuminates the current reliance on government support.