Sunday, December 26, 2021

Climate

Searching for government handouts is a national pass time and has been going on for many years. For the people that pay taxes these benefits come in the form of tax deduction for home mortgage interest, oil depletion allowances, farm subsidies, capital gains rates, deduction for state tax and property tax and carried interest. For those who don't pay taxes the big benefits are child tax credit, and the earned income credit. These benefits are championed by political action groups (lobbyist) and are difficult to cancel. Liberal congress people act as lobbyist for the non taxpaying groups. The Build Back Better(BBB) plan contains additional benefits for the non tax payers in the form of universal pre-care, expanded child tax credit, childcare credit and affordable housing. Left out was free college and paid leave. It increases taxes on the tax paying group and raising the limit on state and property tax deduction was omitted. While much of what is in the BBB is helpful the whole plan is flawed in that it is presented as a climate change bill with $500 billion dollars set aside for wind and solar. This continues the country down the wrong path by pretending that wind and solar can replace fossil fuels because going green is the cover story for expanding social programs. While there is a need for additional help for working families, using wind and solar to get there is going backwards in tackling the problem of climate change.

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