Effective tax credits are used to create jobs and grow our economy. But tax credits that aren't delivering for Missourians must be retooled and reformed.
You look at Rand Paul's bill. He's got refundable tax credits. So many other bills that are out there have had this. Dr. Tom Price, who is secretary of HHS under President Trump, he had an Obamacare repeal-and-replace bill that had tax credits.
Labour ministers often look puzzled when reports show that Britain has one of the lowest levels of social mobility in the developed world. They just don't get it. They see poverty, inequality, fairness, as all about income. For the past 12 years, they have relied on tax credits to solve this. But tax credits do not solve poverty: they mask it.
Buying pollution credits is folly; it doesn't help the environment. Instead of using tax dollars to buy credits overseas, we'll use them at home.
If you have to change the law to get more money, that's a tax increase, and Americans for Tax Reform supports all efforts of tax reform, getting rid of deductions or credits, or something that's misclassified, as long as you at the same time reduce rates so that it's not a hidden tax.
Accounting for the unpaid care economy can drive progressive policies such as paid family leave, social security credits for early childcare, tax credits, and quality early childhood education.
Tax reductions are usually simpler and less distortive. I'm certainly willing to look at getting rid of tax deductions/credits, and go to dramatically reduced rates.
Tax incentives might spur hiring in the short run, but how lasting are those gains if the jobs expire with the tax credits and they come at the expense of investing in the new technologies of the future?
Subsidies and mandates are just two of the privileges that government can bestow on politically connected friends. Others include grants, loans, tax credits, favorable regulations, bailouts, loan guarantees, targeted tax breaks and no-bid contracts.
Most of them benefit businesses, things like research and development tax credits. But people will also benefit, too, from things like - the earned income tax credit and the child tax credit have been made permanent. They predominantly help lower-income families.
Much fiscal policy is implemented, not through spending increases, but through tax credits and other so-called tax expenditures. The markets should respond to them as they do spending cuts, with little contraction in economic activity.
Tax credits instead of a huge bureaucracy. This is the question for me.
It is my belief that tax credits only go to people who are making money, and they generally keep it.
If you're a state and you don't set up an exchange, that means your citizens don't get their tax credits.
Fannie and Freddie made two-thirds of all subprime mortgages. That is not a free market institution. That entity, along with the Fed printing too much money back in '03 and '04, caused the housing collapse. So we need to take free markets seriously. That means we have to put an end to all these tax credits and tax deductions and loopholes.
I never liked the whole thing about pictures with the artists. You look back at an Elvis Presley record, and you don't see any producer credits, because the audience is not supposed to know about the producer credit.