DEMOCRATS IMPLEMENT MASSIVE INFLATION: SHOULD PARENTS KISS THEIR BACKSIDES OVER CHILD TAX CREDIT?
If Your Boss INTENTIONALLY Broke Your Leg, Would You Thank Him For Driving You To The Doctor?
Every time I hear a politician or a bureaucrat say “it’s for the children,” I cringe, wince, recoil and ask myself: WHAT scam have they dreamed up THIS time to take even more money from law-abiding Americans? I KNOW that whatever scheme they have dreamed up “for the children” will feather their own nests more than it will help America’s children.
The confusing child tax credits contained within Biden’s Build Back Bankrupt Act are set to expire soon, so Democrats are debating whether or not to extend them. Since the midterm elections are over AND Americans won’t be voting again for TWO MORE YEARS, most Democrats see no need to pander to parents NOW. That can wait until 2024.
Parents are reduced to begging in the streets, begging politicians to return a little bit of the money THEY EARNED. The complicated pile of Fed Speak contained in the legislation would not be NEEDED if parents were allowed to keep their EARNED money in the first place.
TURNING PARENTS INTO BEGGARS
Why do parents* “need” child tax credits, deductions for day care costs and various subsidies to help them “raise” their children? BECAUSE THE FEDERAL GOVERNMENT OVERTAXES THEM. They didn’t “need” such help when they were allowed to keep most of their hard-earned wages. Federal income taxes massively accelerated in the 1960s and 1970s. Greedy bureaucrats and politicians “needed” more money from parents to fund the welfare state (BIG FAILURE: more adults AND children live in poverty today than when LBJ created the “Great Society”), to fund the Vietnam War, to pay off their corrupt cronies and to waste on ever more worthless programs.
As the years rolled on politicians found ever more excuses to confiscate ever more money from parents and other taxpayers. With a few tiny bumps here & there over the years, income taxes on lower & middle class Americans have continued to rise ever since this American was learning to drive. The more earnings the Feds confiscate from parents, the fewer choices parents have, and the fewer resources are left to feed, clothe and house their children. The choice to have one parent stay home with the children has been virtually obliterated by the voracious, insatiable, ravenous appetite of the DC Swamp.
WHEN WAS THE LAST TIME YOU MET A YOUNG FAMILY WITH SIX KIDS?
It wasn’t that long ago when ONE INCOME could comfortably support a couple and their 3, 4, 5, 6 or more children. The WWII Generation raised their Baby Boomer broods on ONE INCOME. Indeed, using my childhood as an example, my father supported FIVE people on an electrician’s wages. We had a five bedroom, two bath, 4,000 square foot house, with a two-car garage, on an acre & a half, WITH A SWIMMING POOL. [No, he did not inherit anything, nor did he get any “assistance” from any government agency.] Of course, some of the residents in our semi-rural area 150 miles from any “big city” were better off than us, and some were not. There was no observable poverty. And we were surrounded by families with 3, 4, 5, 6 or more children! The first time I spotted poverty I was in my 20s, driving through inner-city Chicago.
Much has changed since I was a tomboy climbing on monkey bars. BUT, the major change FOR PARENTS has been changes in the Federal Income Tax Code. When my father was supporting three children and a wife a tax exemption was $600 per person with no strings attached. Therefore, my parents paid NO tax on the first $3,000 of his wages. According to the Census Bureau, in 1965 the annual median FAMILY income was $6,900. Half of American families were earning less than $6,900 and half were earning more.
TODAY no taxpayer has tax exemptions! Had tax exemptions kept pace with inflation, including Biden-created inflation,** today’s tax exemption per family member would be more than $10,000. Let that sink in for a moment. A family of five today would NOT be paying federal income taxes on the first $50,000 or so of annual wages. Their children would be SO much better off. And America would be so much better off!