Vice President Kamala Harris wants to tinker with the tax code because “working families deserve a break.” She promoted the plan in Tuesday’s debate with former President Donald Trump and in her newly released agenda.
The Harris plan would give “more than 100 million working and middle-class Americans … a tax cut,” her agenda says. But what she really means is she wants to create more government spending and give some folks free money, on the backs of taxpayers who don’t qualify for the pricey plan.
Harris aims to bolster the Child Tax Credit and the Earned Income Tax Credit, and beyond that, to boost the Child Tax Credit to $6,000 for families with newborn children.
These tax credits were meant for lower-income people, but the plan will likely have unintended consequences, according to Warren Hudak, a federally licensed tax practitioner and past president of the Pennsylvania Society of Enrolled Agents. He has testified before Congress on tax matters.
“The problem is, it’s not targeted. It’s not outcomes based,” Hudak told The Federalist. “Who are we helping, and how are we helping? The problem with the tax code — using it for these kinds of policies — it just gives away money to use for anything they want. I can tell you, there’s a reason why they’re poor, and it isn’t because they make great choices.”
Think about it. What happens when you (if you) get a tax refund? Some Americans put it into savings, use it to buy a
