Varney warns of new US entitlement program
FOX Business’ Stuart Varney gives his take on the child tax credit.
FOX Business' Stuart Varney, during his latest "My Take" on "Varney & Co.," argued that "Democrats are buying votes" and making America more like Europe with a new child tax credit.
VARNEY: BIDEN WILL TAKE CREDIT FOR ECONOMIC RECOVERY
STUART VARNEY: Get ready for something we haven't seen in a very long time: a new entitlement program! And the checks will start rolling out this week!
Except for the most affluent, all families with children get the cash. No strings attached. $300 a month for each child under 6. $250 a month for youngsters 6 to 17. You don't have to apply. You are automatically enrolled. The money starts flowing this week.
But to keep it flowing, to extend the program, the president needs a "yes" vote in Congress, and here's where politics come in.
VARNEY: THE LEFT WILL TRY TO GRAB WALL STREET WEALTH
Which politician is going to say "no" to money for children? The parents of 70 million youngsters will be getting the money: that’s a very large group of voters. When they get used to the checks, will they vote for politicians who cut them off? And remember, when the government starts to give something, it’s almost impossible to take it away.
This is a big part of the Democrat's plan to make America much more like Europe. We're already well along the road to socialized health care. Why not cash for kids? That’s exactly what this is.
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The Democrats plan to pay for this by raising taxes on big business and the rich. That’s not going to work.
There's not enough tax-hiking money to pay for the Green New Deal, infrastructure and this new entitlement plan. So we'll have to borrow it, and go further into massive debt. Just like Europe.
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The Democrats are buying votes.
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