Jay, in 2003, my wife and I went to H&R block to get our taxes done. After everything was said and done, the tax specialist let me know that I still owed $5600.00. As I wrote the check, I heard a woman crying at the cubicle next to ours. I asked the woman if she was OK and she said “I’m not crying because I’m sad, these are tears of joy. I just got a tax credit in the amount of $5600.00”

This was the first year for the Earned Income Child Tax Credit. This is when I really understood what “transfer of wealth” means. Mind you, this woman and I were about the same age. She was probably a single mother and barely making it. I’m sure the $5600.00 was more money than she ever had at one time in her life. I felt no ill-will toward her.

So because my wife and I were still married, went to school, worked hard and made good choices, the government decided to take $5600.00 from me and give it to her. Trust me, this is when I became a devout conservative.

The irony is that my financial life continues to improve, while many people like her stagnate. The government ultimately didn’t help her or me.