I'm bothered by the government promoting products by giving them tax breaks. Maybe that's just because I already don't pay income tax. When I see an item promoted by a tax break, I wonder how much the price has been raised.
For example: let's say they are selling an energy efficient do dad for $500, with a tax break of $100. In the end, after struggling with the paper work, the item costs $400. Would the do dad be selling for $500 if it didn't already have a tax break built in? Maybe they'd be selling it for $400 anyway, and the extra $100 is a rip off? No way to know, I guess. If I do buy a product with a tax break, which I don't get, I assume I'm paying too much for it.
Then there is the Chevy Volt. As I understand it, there's a $7,500 tax break for buying the car. So lets see here, GM (Government Motors) has to give away $7,500 from the public coffers to sell a fairly expensive car of dubious performance. If it was any good, they wouldn't have to give tax breaks to sell it. Does not inspire me at all.
Working poor shouldn't even be paying income tax. It would make more sense to raise the top tax rates a tiny amount to make up the difference. Put a few extra dollars in the pockets of the working class and that money is going to get spent. It'll circulate around the economy. Take a few dollars extra away from the ultra rich, and maybe they won't expand that factory in China. How does that hurt the US? It's not like they've been expanding factories and hiring people in America.
18 minutes ago