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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBiden's Child Tax Credit as Universal Basic Income
https://prospect.org/economy/bidens-child-tax-credit-as-universal-basic-income/Well, gentle reader, we just got both. And the brilliance is in the details.
The credit, which is really a family allowance run through the IRS, provides $3,000 a year for each child under 18, topped up to $3,600 for kids under six. So a family with three kids gets almost $10,000. As a point of reference, the average income of the bottom 20 percent of American households is about $14,000.
The new Child Tax Credit will cut the rate of child poverty in half, and will raise the total incomes of the bottom fifth of American families by 33 percent. I never expected to see something like this in my lifetime.
Its not enough, but its one hell of a leap forwardthat will create momentum for more leaps. And a special shout-out to Rep. Rosa DeLauro (D-CT), who has been this ideas champion for decades.
Wow, this is such wonderful news!
Goodheart
(5,334 posts)I am very much opposed.
FoxNewsSucks
(10,434 posts)It should be per household. Not per person/child.
aquamarina
(1,865 posts)Haggard Celine
(16,847 posts)People need to stop breeding so goddamn much if they can't afford it. I don't have a problem with giving out free birth control or possibly even surgeries to prevent pregnancy. The world is already overpopulated. Let's encourage people to have fewer children and adopt children who are already here and need families.
Goodheart
(5,334 posts)honest.abe
(8,678 posts)I would be surprised if anyone decides to have more children based on getting extra 300 / month. Although it certainly helps.
Goodheart
(5,334 posts)honest.abe
(8,678 posts)In fact its probably a good thing. From recent reports our birth rate is in rapid decline. That will not be good for the future if that trend continues. I understand about overpopulation and the pressures on our environment but we do need a certain level of birth rate to keep our society functioning.
Goodheart
(5,334 posts)We already have too many people. I don't agree that population decline will be bad for our society.
honest.abe
(8,678 posts)I tend to agree with you up to a point. Not sure exactly where that point is.
Goodheart
(5,334 posts)I just know that wilderness areas are scarce, privacy is rare, natural resources are dwindling, and property values are through the roof.
PoindexterOglethorpe
(25,862 posts)Older ones cost more, in my personal experience.
Otherwise, I'm happy with a UBI (Universal Basic Income). I hope this becomes permanent.
And yes, I might have to pay slightly higher taxes, and no, I didn't get this when I had kids. So what? I can afford slightly higher taxes, and honestly, what happened in the past isn't the issue. Let's go forward with this.
honest.abe
(8,678 posts)When our kid starts going to public school next year we will be saving over 1000 month.
Meowmee
(5,164 posts)Not a tax credit for children.
Doremus
(7,261 posts)Meowmee
(5,164 posts)The article title and op says tax credit for children as universal basic income.
Doremus
(7,261 posts)"Don't let the perfect be the enemy of the good," "one step at a time," "incremental progress is always best," "you don't get your ponies today, sorry."
Now, on this issue, it's "reach for the sky and (probably) end up empty handed."
What's up here? What is it about lifting children out of poverty that triggers this?
Goodheart
(5,334 posts)especially when that means more money the more children you have. That outlook includes worried perspectives on climate, natural resources, and what we can afford as a society in the long term.
How about we let people make their own family size choices, and then be responsible for them?
Yes, I know I'll catch flak for that among fellow Democrats, but it's not reasonable to expect to agree on EVERYTHING.