Insight - July 19th, 2021
Insight
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19-Jul-2021
The first IRS child tax credit distribution of the American Rescue Plan has gone out. Today on Insight, Brother John and Josh Rosenstern explain how this tax credit will go out to people who don’t even pay Federal Income taxes. He says about half of Americans fall into this lower income bracket, and therefore will not be required to pay this credit back. Families with children between the ages of 6 to 17 will receive three thousand dollars per child on the 2022 tax year; the government is giving half of the credit early. So, $1500 dollars will go out this year per child, broken down into six payments of $250 dollars each. These six monthly payments will be deposited from July to December of this year. Brother John says he believes the Government is weaning us into Universal Basic Income; these types of Federal payments will lead Americans to become more and more reliant on the handouts and will be less ambitious to work for a paycheck. Brother John says the U.S. Federal Government has the largest budget deficit in history developing into this fiscal year, as Congress is now looking to pass another three and a half trillion dollars in spending. Brother John says our government spending has gone radical, and American money is quickly losing its value.
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