I’m watching Fox & Friends and seeing a woman and her husband complain that baby formula is not tax-deductible. Seems she had a double mastectomy a couple years back and could only feed her child formula. They claim that formula is not tax deductible while Viagra, Dr. Scholl’s footpads and sunscreen, depending on the purpose, can be. The couple is asking that baby formula be given a tax exemption, as well.
Now, I’m no fan of taxes but I’m even less of a fan of obscure tax loopholes. I think our tax system is entirely too complex. We need to reduce the number of deductible items, not increase them! Concurrently, we need to lower our taxes.
Here’s how this can become a bigger problem: Formula is now tax deductible. Maybe it’s done responsibly, where it’s only deductible for women who can’t produce enough breast milk, maybe not. In any event, formula is deductible. So the next person asks, “well, what about children’s vitamins?” Soon children’s vitamins are tax deductible. Then adult vitamins.
Do you see where I’m going here?
Is it unfortunate that this woman had a double mastectomy? Yes, and I’m sorry she cannot breast feed. Should there be another tax deduction?
No. We should have fewer loopholes and lower taxes.