Democrats are celebrating their “free money” all over social media. The hashtag #BidenBucks has been trending on Twitter. Is Biden really giving away free money to people with children?
As expected, these “Biden Bucks” are not what they seem. Nothing in life is free, despite what the Left likes to pretend.
For years, parents have been able to claim something called the “Child Tax Credit” on their taxes at the end of the year. Many families receive a large tax refund because of this credit.
What Biden has done is give families an advance on the money they would normally get after filing their taxes. So it’s not free money. It’s just a way to tap into that credit now instead of next year.
Here’s the problem: You might not get a refund next year if you take “Biden Bucks” today. And if you find out you owe taxes next April, you’ll end up having to pay back your “Biden Bucks” — or come up with some cash quick.
Next year Americans who took advantage of these “Biden Bucks” will be crying when they find out they’re not getting a refund — or, worse, they actually owe the government money!