Thoughts on tax breaks…

I think the term ‘tax break’ can be misleading. When you think about it, any tax break ‘costs’ the government that amount of money. It equates to a loss of income generated. It’s not free. Therefore, you could say that in essence, a tax break is just another type of spending bill. When it comes to creating jobs, currently there seems to be two primary options on the table….spend that amount of money to create jobs right now (infrastructure), or give away that amount of money via tax breaks in hopes that it will stimulate job growth at some point down the line.

As we all know, the government already spends more than it brings in. Giving out tax breaks seems counter-productive unless you are certain that those tax breaks will equate to more money coming in than the tax break itself costs. Also, it’s a lot easier to give a tax break than it is to take one back. You better be sure it’s going to work before employing it.

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