One of the big headlines of the past couple of days is the revelation that nearly half of all US households will not pay anything in income taxes this year.
Last April, we asked if voters thought that was fair — should low income earners pay nothing in income tax or should everyone who works pay something. 84 percent of NC voters thought everyone should pay something. Only 12 percent said low income earners should pay nothing. (Full April results here.)
This seems to fly in the face of the policies pursued by the left which wants to “untax” workers while raising taxes on everyone else. The incorrectly named “Earned Income Tax Credit” is just one of their vehicles to accomplish these goals.
But this and most other policies that want to create “fairness” in the tax code are nothing more than income redistribution schemes that harm economic growth, dampen entrepreneurship, and lessen the incentive for Americans to pursue their dreams and achieve more. Why work harder to make more money so it can be taken and given to someone else.
The voters don’t buy it, and neither should our elected leaders.