That idea is not new. And just imagine, with about 4 million babies born each year it would only cost $4 billion a year, a pittance compared to the current Federal budget of $4 trillion.
Still, the entire notion is extremely socialist. That’s why I’m opposed.
Parents could do it. There could be a tax incentive to do it. But free money, just because you were born? Never.
Plus another 20 billion to cover administration, kickbacks, and the building of a website by one of Michelle Obama's college friends. :)
Why even a tax credit?
We already have bad legislation from Ivanka in the tax cut package: subsidizing child care for Jivanka’s rich friends on the Upper East Side with scads of nannies—but it distorts the market all the way down: 1) making it harder for mothers to simply stay home with the kiddos, and 2) removing both fairness and incentive from the system by favoring parents over simply using low marginal rates to encourage the economy in general.
We don’t need more bad policy!