Tax Credits

Are tax credits good or bad? On one hand, they let you keep some money. On the other hand, they let the government play favorites and subsidize one industry or business over another. The government shouldn’t decide winners and losers.

In a government-backed fiatconomy, shuffling money around with whatever methods they come up with really doesn’t matter. I don’t think making moves to your own benefit when you’re operating within that system can either be declared good or bad, it just is.

I only get federal income tax credits/ deductions for half of my kids. You can only use them as deductions if they have an SSN. And now the ones with SSNs are getting too old to claim.

Depends on if they’re refundable or not.

If they are refundable its more complicated because they are sometimes welfare and sometimes function as deductions.

If they are not refundable then its less robbery. The issue isn’t the credits, its that they’re robbing the other people.

What do you mean by refundable? The government is giving a credit towards taxes. There is nothing to redeem or refund.

For example, this is effectively a form of a minimum basic income:

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Yeah, if you don’t make enough, they will send you a check.

Better than spending it on guns and bombs, but stealing from people to give it out to other people isn’t nice.