Site icon The Punching Bag Post

Child Tax Credit gimmick explained

&NewLine;<p>Every time the big spending autocrats want to spend more taxpayer money to gain greater political control of the populace&comma; they come up with very nice sounding programs&period;&nbsp&semi; The money is to help the poor&comma; the elderly&comma; the disabled&comma; the single parent&comma; education for toddlers&comma; advanced education&comma; crime victims&comma; underpaid teachers&comma; union workers&comma; etc&period;&comma; etc&period;&comma; etc&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Of course&comma; they also like to create what I call the &OpenCurlyDoubleQuote;affluent dependent class” with money for professors&comma; favored businesses&comma; subsidies&comma; real estate developers&comma; industrial farms&comma; etc&period;&comma; etc&period;&comma; etc&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Virtually all that money is spent to buy votes – and there is usually a lot of mischief in how the money is delivered&comma; used&comma; wasted&comma; and embezzled&period;&nbsp&semi; The big spenders on the left do not care if you are cheating – or gaming the system – because the crooks will also support those providing even that ill-gotten money&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Democrats are all over the media whining about the opposition to the misnamed and hugely expensive Child Tax Credit&period;&nbsp&semi; While the money goes to families with children – or at least to those claiming to have children&period;&nbsp&semi; &lpar;And yes&comma; we have more than enough examples of people conning the system by falsely claiming their non-existent children&period;&nbsp&semi; But that is only one element of the overall problem&period;&rpar;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>For all practical purposes&comma; the Child Tax Credit is not directed to the child – or children&period;&nbsp&semi; It is simply a grant to the family – a grant totally controlled by the parents&period;&nbsp&semi; There is no obligation to spend any of that money on the children&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>The left jumped all over West Virginia Senator Joe Manchin for arguing that parents could even use the money to buy drugs&period;&nbsp&semi; If some parents are doing drugs and desperate for the money to finance the habit&comma; you can bet your nickel bag that they will use the money for drugs … or alcohol … or obsessive buying on the Shoppers Network&period;&nbsp&semi; Not every parent is a paragon of virtue&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>MSNBC’s Katy Tur suggested that Manchin was insulting the people of his home state – especially&comma; she said&comma; since West Virginia has a major opioid problem&period;&nbsp&semi; Whoa&excl;&nbsp&semi; Am I missing the logic here&quest;&nbsp&semi; Tur blasts Manchin for suggesting that the Child Tax Credit money might go to drug purchases – and then reveals that there are a large number of addicts in his home state – many of whom would most certainly be parents&period;&nbsp&semi; Seems to me that Tur was supporting Manchin’s concern&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>In addition to no supervisory protection over the misuse of the money there is another problem&period;&nbsp&semi; The money goes to a lot of parents who have incomes way above the poverty level&period;&nbsp&semi; These folks might even be called &OpenCurlyDoubleQuote;rich” – capable enough to provide for their children&period;&nbsp&semi; That is why Manchin wants the money be means-tested&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Then there is the claim that the current Child Tax Credit has taken more than half of the children out of poverty&period;&nbsp&semi; They claim that by looking at the estimated number of children living in families with incomes below the government poverty level&period;&nbsp&semi; The added money puts their total income just over the poverty level&period;&nbsp&semi; What it does&comma; it takes those who have incomes just a smidgeon below the government-determined poverty level and pushes their incomes a smidgeon over the line&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>It does not however establish that the children in those families materially benefit from the slight increase in household income&period;&nbsp&semi; There is nothing in the legislation that requires parental accountability for the money&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Under the proposed legislation&comma; it would be possible for two families with incomes below the poverty level to share an apartment and expenses – providing a household income in excess of the poverty level – and still have both families individually get the money for however many kids are in the home&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>One of the reasons Biden and the Democrats decided to pass the Child Tax Credit for only one year was to hide the overall expense&period;&nbsp&semi; These programs are traditionally extended for ten years because that provides a more realistic cost to the American taxpayer&period;&nbsp&semi;&nbsp&semi;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>The reason they are not doing that is because projecting just the Child Tax Credit out ten years would reveal the enormous budget-busting&comma; deficit spending&comma; National Debt increasing cost&period;&nbsp&semi; They do not want the Congressional Budget Office to be scoring the ten-year program&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Democrats know that if they had passed a one-year program&comma; they would be making the same arguments next year … and the next year … for the extension of the Child Tax Credit program – just as they are making the plea to extend it today&period;&nbsp&semi;&nbsp&semi;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>Biden &amp&semi; Co&period; are flagrantly trying to flimflam the American people with this legislative trickery&period;&nbsp&semi; To understand what the Democrats are doing&comma; just image you bought your house based on your belief that you only had to pay the first-year mortgage&period;&nbsp&semi; That is another reason Manchin refuses to participate in such shenanigans&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>While this commentary dealt with the sham of the so-called Child Tax Credit&comma; there are many&comma; many other provisions in the Build Back Better bill that should be objectionable to any fiscally responsible member of Congress&period;&nbsp&semi; Thank God that the Democrats have at least one of them&period;<&sol;p>&NewLine;&NewLine;&NewLine;&NewLine;<p>So&comma; there &OpenCurlyQuote;tis&period;<&sol;p>&NewLine;

Exit mobile version