H. L. Mencken called elections “a sort of advance auction sale of stolen goods.” As he ramps-up for an election season, BO proves once again that he has perfected the art of robbing Peter to pay Paul. The president’s next gambit is “tax credits” for the middle class.
These are “subsidies disguised as tax cuts. In other words, they are spending in the form of direct transfers from the treasury to individuals, except that they are administered by the tax authorities rather than the agencies usually responsible for welfare.”
Social engineering is what tax credits are, as they target certain constituencies to the determinant of other, less politically powerful ones. Basically, “taxpayers can receive a raft of tax credits if they engage in various government-specified activities.”
You need very few brains to err on the side of growth and usher in, “lower tax rates for everybody.”
Update (Jan. 26): The familiar demand that I abandon a discussion on tax policy because I stand for abolishing the 16th, “The Number of The Beast,” is a position I’ve denounced again and again. This is what goes for libertarianism in many quarters; you sit on the fence, make nothing but tinny, tedious, purely theoretical arguments, and congratulate yourself on retaining your political purity. To repeat, this is nothing but sloth. It’s also boring, foolish and uppity without being superior.
Yes, taxation is immoral and naturally illicit. And yes, tax policy needs to be debated among the handful of intellectually curious, clever, engaged individuals, and yes, the fact that one wishes to see a return to natural justice does not preclude a pragmatic support for, say, a flat, low tax. Let the poor set the rate.