Mt. Vernon Register-News

Opinion

March 1, 2014

A creditto tax code

(Continued)

Still, he wouldn’t have had to do that if not for other provisions in his plan that mainly benefit corporations or the wealthy, such as eliminating Obamacare’s medical-device tax or maintaining the preferential treatment of investment income for top earners.

A better approach would be to use the proceeds from reducing overpayments to maintain an earned-income tax credit at least as generous as it is now, on a per-recipient basis. If overpayment-reduction isn’t enough, then the money should come from somewhere else.

Camp deserves credit for taking on tax code sacred cows, such as the deductions for mortgage interest and state and local taxes that mainly benefit upper-income taxpayers.

In dealing with the earned-income tax credit, however, the Ways and Means chairman had a chance to show GOP seriousness about market-based approaches to the plight of low-income Americans — and didn’t quite make the most of it.

Text Only
Opinion
  • Feed your home piggy bank with a 15-year mortgage This summer, we finally decided to take the plunge we’d been contemplating for a while: converting our 30-year mortgage to one with a 15-year payoff. It’s a big step. Our payments will go up somewhat (the PITI — principal, interest, tax, and insuranc

    July 19, 2014

  • Under the dumb There is a TV series about an entire town trapped under a giant, mysterious crystal-clear dome that appears out of the blue one day. The dome is impenetrable; no one can get in, no one can get out. Who made the dome? Aliens? God? A super-secret branc

    July 19, 2014

  • Widening the loopholes This week, two more U.S. companies moved to reestablish themselves overseas, allowing them to pursue lower corporate tax rates. They will join dozens of others who have chased lower tax bills abroad while maintaining operations in the United States,

    July 19, 2014

  • Patriotism not questioned Editor:I am responding to Mayor Mary Jane Chesley’s Reader’s View article in the Thursday, June 19, 2014, Register-News “Patriotism is strong.”The mayor has missed the point of my Reader’s View/opinion article in the local newspapers regarding Flag D

    July 19, 2014

  • Who's telling a story now? For this administration, failure is always the result of a “communications” problem. Otherwise, failure might be taken as evidence of misguided ideology and incompetent execution, right? It’s a weird excuse for the president who fancies himself to be

    July 18, 2014

  • Why cutting corporate taxes won't help the middle class WASHINGTON — Earlier this week, I testified in front of the Joint Economic Committee on the topic of assessing the recovery after five years.As you can imagine, congressional testimony can be pretty frustrating these days for members of the fact-base

    July 18, 2014

  • Heart of darkness in buffer zone BOSTON — “Be careful. This is a dangerous corner.”It’s not until you visit the Boston Planned Parenthood clinic at the heart of the recent Supreme Court buffer-zone case that you realize the unnecessary danger it created. And I’m not even inside.On t

    July 18, 2014

  • When should U.S. use force? Was the Iraq war the greatest strategic error in recent decades, as some pundits have suggested recently? The simple answer is no. That honor belongs to the failure to take action against al-Qaida and Osama bin Laden before the attacks that killed ne

    July 17, 2014

  • Student debt relief would cut defaults The U.S. system of student loans is nobody’s idea of a successful program. Default rates are near a two-decade high, burdening borrowers, the government and the economy as a whole. Yet programs intended to help prevent these personal fiascos — by tyi

    July 17, 2014

  • Use the power of the purse Dear Members of Congress,Here’s an assignment for you: Watch the 1939 classic “The Wizard of Oz” and pay particular attention to the part in which Dorothy realizes that in her ruby red slippers, she had the magic power she needed all along.You do, to

    July 17, 2014

Twitter Updates
Facebook
Stocks