Today is the notorious (as in famous) April 15th.
Tax Day!
Well, at least for half of the citizens of the United States.
Only 53% of Americans pay taxes. The rest either pay no taxes, or even get money back from the government--something, by the way, which makes absolutely no sense to me. If you don't pay taxes to the federal government, then the feds don't owe you anything. At all. For any reason--and now, back to the subject at hand....
So, what's the problem with this picture? Well, you get a set of people in our country who will vote--not for smaller government and few taxes which will allow our economy to grow and prosper--but instead vote for increased government spending on them.
Tax credits can also be used as social engineering by politicians--for example, the federal government can reward you for driving a "green" car (or perhaps even a car built by GM aka Government Motors) or give you tax credits for having fewer children or eating carrots or whatever they wish to impose onto We, The People.
Tax credits create dependency on the government and thus discourage people from working hard, being creative, and entrepeneurship.
Under President Obama's so-called stimulus program, several new tax credits were instituted. Then, to raise more revenues, taxes will be raised.
This only discourages people further from working hard. And those that can will get their money out of this country.
So, what to do? Get rid of tax credits. And soon.
Tax Day!
Well, at least for half of the citizens of the United States.
Only 53% of Americans pay taxes. The rest either pay no taxes, or even get money back from the government--something, by the way, which makes absolutely no sense to me. If you don't pay taxes to the federal government, then the feds don't owe you anything. At all. For any reason--and now, back to the subject at hand....
So, what's the problem with this picture? Well, you get a set of people in our country who will vote--not for smaller government and few taxes which will allow our economy to grow and prosper--but instead vote for increased government spending on them.
Tax credits can also be used as social engineering by politicians--for example, the federal government can reward you for driving a "green" car (or perhaps even a car built by GM aka Government Motors) or give you tax credits for having fewer children or eating carrots or whatever they wish to impose onto We, The People.
Tax credits create dependency on the government and thus discourage people from working hard, being creative, and entrepeneurship.
Under President Obama's so-called stimulus program, several new tax credits were instituted. Then, to raise more revenues, taxes will be raised.
This only discourages people further from working hard. And those that can will get their money out of this country.
So, what to do? Get rid of tax credits. And soon.
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