Reduced Spending in the Tax Code

Yesterday I said there are two basic ways to cut a deficit: lower spending and raise taxes. Well, I underestimated the president, who has apparently found a third way. Mr. Obama wants to “reduce spending in the tax code.” The idea is to take away some of those pesky tax credits for beleaguered taxpayers. Okay, it’s really a tax hike.

The wording betrays Mr. Obama’s mindset: He views allowing people like me (not in any sense a millionaire or billionaire, mind you) to keep more of their money from the IRS as a form of government spending, as if the government, not the taxpayer, has first claim on that money.

I wonder if this means we can all kiss the homeowner’s deduction and child tax credit goodbye? That’s an approach that will force the Guthrie family to reduce its own spending.

About Stan Guthrie

Stan Guthrie is an editor at large for Christianity Today magazine and for the Chuck Colson Center for Christian Worldview. His latest book is God's Story in 66 Verses. He also is author of All that Jesus Asks: How His Questions Can Teach and Transform Us, Missions in the Third Millennium: 21 Key Trends for the 21st Century, and A Concise Guide to Bible Prophecy. He is co-author of The Sacrament of Evangelism. Besides authoring, writing, and editing books, Stan is a literary agent, bringing together good authors, good books, and good publishers. Stan writes the monthly Priorities colum for BreakPoint.org. He has appeared on National Public Radio's €œTell Me More,€ WGN's Milt Rosenberg program, and many Christian shows, including The Eric Metaxas Show and Moody Radio'€™s €œNew Day Florida.€ A licensed minister and an inspirational speaker, he served as moderator for the Christian Book Expo panel discussion, Does the God of Christianity Exist, and What Difference Does It Make?
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