The rhetoric says the credit is beautifully pro-life and, in taking it away, Congress is practically consigning children to lives in orphanages or being snuffed out in abortion. But is that accurate?
Speaker Paul Ryan promised the House bill would mean ‘bigger paychecks’ for American workers, but some payments are coming straight from another taxpayer’s pocket.
The focus on the loss of a useful benefit obscures what would be the larger question in a more sweeping tax reform: what does any of this have to do with income taxation?
Congress can take two major steps to encourage school choice in lieu of this ineffective 529 expansion: dramatically cut its meddling in education, and dramatically increase the federal child tax credit.
How did an ostensibly ‘technical’ amendment end up withdrawing refundable tax credits from up to seven million veterans?
Instead of passing legislation that some may vote for, but few truly support, House leadership would be wiser to focus on enacting a bill that members can both vote for and support.
If the health-care market were actually a market, there wouldn’t be any need for the GOP candidates’ complicated tax plans to replace Obamacare.
Maryland’s film tax credits benefit rich Hollywood out-of-staters such as those producing ‘House of Cards.’ Research shows these credits don’t benefit local taxpayers one bit.
If it was “unimaginable” to you that 36 states would do exactly as they’ve done, maybe you should leave the wonkery to people who know what they’re doing.
Perhaps it’s time to stop rewarding people with child tax credits for decisions they’ve already made and instead offer others the financial freedom to follow their lead.
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