The tax credit can also be taken by self-employed people on their income tax return.
Wait, there is more in the Fact Sheet:
“Building on today’s IRS release and the American Rescue Plan’s provisions, the Administration is committed to expanding paid leave more generally. That’s why the tax credit in the American Rescue Plan will enable employers with fewer than 500 employees to claim up to $17,110 for 14 weeks of paid leave for each impacted employee not only to get vaccinated, but also to take time off if they have COVID-19 symptoms and are going to the doctor; are getting tested for COVID-19; are under quarantine or isolation order by the government or a doctor (or are caring for someone who is); or have to care for a child whose school or child care provider closed, due to COVID-19.”
If a company with less than 500 employees already provides paid family leave will they get the credit? How will they prevent fraud and abuse by small employers and self-employed individuals?
It is hard for be to believe that the President has this power. It just doesn’t seem right. It seems out of control.
Gene Czarnecki makes good points about resisting student loan forgiveness. (See link below to letter in The Register.) It seems a little known fact that more people default on loans with balances less than $5,000 than larger balances. This is likely due to the fact that smaller balances are due from students who did not complete their degrees while larger balances are due from students who completed post-graduate degrees like medicine and law and who have the ability to pay off their loans. So, if our government does anything to forgive student loans, we should consider forgiving only the first $5,000 rather than larger amounts.
The $1 per gallon tax credit for biodiesel producers just passed the U.S. House and appears likely to become law. The credit, which expired at the end of 2017, will be extended retroactively 2 years and forward for 3 years through 2022. This tax credit started in 2005. How long must the welfare continue? Biodiesel producers are no different than most other businesses and industries in that they become dependent on subsidies and lobby heavily to prevent the subsidy from ever ending. We need to pass laws that phase out all forms of energy subsidies, as well as subsidies given to other favored industries. We need free-market capitalism, not crony capitalism.
Contrary to the Register Editorial on 12/1/2019, we should not add long-term care as a new benefit under Medicare. (See link below to The Register’s Editorial urging Medicare coverage of long-term care.) If we want to solve problems using the force of government, we should do the minimum needed to solve the problem. In this case, the problem is making sure that people receive medically necessary long-term care, not making sure that money is left to people’s heirs.
We currently have a pretty good situation: Many people voluntarily purchase private long-term care insurance. Many others who could afford insurance choose to take a risk and not buy it. Taxpayer-funded Medicaid covers the cost of long-term care for those who are unable to pay. For those in the middle – not on Medicaid, but who would struggle to pay for private long-term care insurance – Medicaid already goes a long way to help them qualify for long-term care coverage. For example, if one spouse of a married couple needs long-term care, the other spouse gets to keep a house and a car and some income, even though Medicaid pays for the long-term care of the first spouse.
The best long-term, sustainable solutions to our problems is to give voluntary, free choice to people and then expect them to be responsible for their decisions. To the extent that we allow our government to force everyone into one-size-fits-all welfare programs, there will be ongoing, unsustainable frustrations, disagreements, and dependency problems.
Our population is aging and we all want to stay in our own homes as long as possible. We definitely do have an increasing demand for in-home caregivers. But I urge our Presidential candidates and our elected federal representatives to not support the mandatory Universal Family Care proposal as described by Al-jen Poo in her recently published essay. (See link below to the “Your Turn” essay by Al-jen Poo published in The Des Moines Register on 9/19/2109)
We do not need, and should not create, a new federal government sponsored, taxpayer funded entitlement program! Such a scheme would make us even more dependent on our government. Caregiving for family members at home should be left to family, friends and voluntary charitable efforts. This is part of being a family and accepting responsibility for ourselves and our loved ones. Yes it is a burden, but it is one that we should accept.
Craig Hill’s editorial explaining the importance of crop insurance to farmers made a lot of sense. (“This much is certain – For farmers, crop insurance is essential” 10/5/2016) Most business and individuals buy insurance to reduce risk, and, as Mr. Hill explained, farmers have plenty of risk. What he did not explain is why taxpayers need to subsidize about 60% of the premium. Contrary to his opinion, it definitely is a handout. Farmers, on average, have much more wealth than the average person. It doesn’t matter that much of the wealth is tied up in land values. Land can be sold for cash just like any other asset. Crop insurance is a good idea, it just should not be subsidized by taxpayers. In the next farm bill, a couple of years from now, we need to eliminate the taxpayer subsidy for crop insurance.
Link to Register article: http://www.desmoinesregister.com/story/opinion/columnists/iowa-view/2016/10/04/much-certain-farmers-crop-insurance-essential/91551614/
In 1862 California passed the, “Act to protect free white labor against competition with Chinese coolie labor, and to discourage the immigration of Chinese into the State of California.” Some things never change. Even though we are not that many generations away from our own ancestor immigrants, once we get settled, we don’t want others to come in and change things.
Immigrants are both producers and consumers. They are mostly honest and hard working people – looking for a better life for themselves and their families. We need to allow illegals some way to become legal. I don’t think there should be a pathway to citizenship, but there should be a pathway to legality. The path should require payment of a penalty, and immigrants should not have access to our taxpayer funded safety net until they become legal, but deportation is not the right answer.
Today, 9/16/2014, The Des Moines Register once again reinforced the idea that there is something inherently wrong with increasing income inequality. (See “Ag economy cited in study showing growth in rich-poor gap” – link below.) In a free market, where government does not interfere except to stop fraud and force, people only become wealthy by producing things that others value and purchase voluntarily. Under free market capitalism, voluntary trade only makes every participant richer.
Unfortunately, we don’t have a free market in much of our agricultural sector. So, an important question is how did the wealthy gain their wealth. If they gained their wealth by receiving subsidies from our government, then they gained their wealth by making others poorer. Today, farmers receive various kinds of government subsidies, both directly and indirectly. For example, crop insurance premiums are subsidized 60% by taxpayers, regardless of the income or wealth of the farmer. And, crop insurance not only covers losses from natural disasters, it also covers loss of profits due to lower crop prices. There should be no subsidy at all for crop insurance, but it is particularly distasteful when the subsidy goes to the rich. So, we must blame our own government’s policies for at least some of the unjust and immoral aspects of income and wealth inequality.
If seems as if all businesses now require some type of welfare program. The definition of economic development is grants or loans or special tax breaks given by our government to businesses. Banks get their welfare indirectly – from loan guarantees from many government programs. Of course our farmers must be protected from losses by government – through crop insurance subsidies that not only cover natural disasters, but actually protect against price declines. All types of energy companies receive special tax credits or tax breaks. The biggest manufacturers in Iowa receive large tax credits for research. Now, Mediacom and John Deere want a grant of $800,000 from the federal government to help bring high speed internet to farmers who buy high-tech, internet connected tractors that cost hundreds of thousands of dollars. We should say no! We need to reverse the trend of expecting taxpayers to fund all types of economic development. Just as with with individuals and families, welfare for businesses create dependency. Our economy will continue to grow sluggishly as long as we look to government to manage our economic development.
It appears that those in charge of reconciling the differences between the House and Senate versions of the Farm Bill will not be doing anything to reduce the obscene amount of welfare going to farmers. Money “saved” by eliminating direct payments is being shifted towards more subsidies for crop insurance. Senator Grassley’s effort to place a cap on the total welfare payments received by any one farmer appears to have been watered down at best. Farmers have higher incomes and greater wealth than most citizens. They should pay the full cost of their crop insurance. Now, lets hope that either the full House or Senate will vote this bill down. We don’t need five more years of welfare for rich farmers.