Inflation is already on the rise. Our rulers don’t mind. They are opening the floodgates of free money still wider. Because everything liberals do requires a euphemism, the free money is called “tax credits.”
Via Fox Business:
The first monthly payment of an expanded and newly advanceable child tax credit (CTC) from the American Rescue Plan will be made on July 15, the U.S. Treasury Department and the IRS jointly announced Monday.
About 39 million households will get the automatic payments.
Eligible families will receive a payment of up to $300 per month for each child under age 6 and up to $250 per month for each child age 6 and older.
This will incentivize people who can’t afford to raise their children — which is usually a result of having them out of wedlock — to have more children. The same strategy used to destroy the black family, resulting in a massive reliable voting block for Democrats.
The American Rescue Plan increased the maximum Child Tax Credit in 2021 to $3,600 for children under age 6 and to $3,000 per child for children between ages 6 and 17, the statement said.
Needless to say, you don’t have to pay any taxes to be eligible for the monthly “tax credit.”
The fortunes spent on nuclear weapons to defend us from the Soviet Union were wasted. We are being conquered by communism from within, seduced into accepting it by the lure of free money.
To the limited extent this will be paid for through taxation, the price will be jobs that are never created because of the stultifying effect on the economy. Most of it will be financed by inflating the currency. The “free” money is stolen from everyone who has savings or is living on a fixed income.
Inflation will require that the “tax credits” constantly increase, driving the inflationary spiral forward. No one likely to put a stop to the insanity will stand a chance of getting elected, because free money is as addictive as crack, if not as healthy.
Employers have already learned they cannot compete with Big Government when it comes to handing out money. That’s why there is a labor shortage despite high unemployment. Increasing taxation and regulation will make it ever more impossible to meet rising wage demands. Eventually, there will be no employers except for the government. The word for this is “communism.”
On a tip from Mr. Freemarket.
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