Posted on 07/26/2021 10:12:23 AM PDT by ChicagoConservative27
The plan means five million children will no longer have to live in poverty, according to Columbia University’s Center on Poverty and Social Policy.
The New York Times reports that experts believe the money could “cut child poverty by nearly half, an achievement with no precedent.”
That’s why those parents are dancing. And it is not just poor people. Working-class and middle-class children are getting jiggy with this financial boost.
(Excerpt) Read more at thehill.com ...
Subsidize a behavior and you always get more of it. How about knocking 95% off a 42 for the under privilidged. That might keep them from producing more babies.
You will get no argument from me!!!!
The article promotes the notion that this relatively small tax credit will lift millions of families “out of poverty”.
That the children of recipients will somehow pay it back implies that those children as a group will grow up to be net tax payers, or tax payers at all, whereas without the subsidy, they would not. What is the evidence for that? Since we are talking about families that require being lifted “out of poverty”, it seems at odds with the history of subsidies, credits, and welfare dependency, all of which tend to become a self-perpetuating cycles through generations.
Logic suggests that those who benefit from the credits will regard government spending and subsidies on “social” goals as a “good” thing, and thus support more Big Government and Big Spending. Since subsidies tend to increase demand, the likely result is more people wanting and “needing” subsidies (aka, transfer of others’ wealth to them) — and voting accordingly.
I expect the program to whet appetites for more and ever higher subsidies, and that the lifetime taxes paid by the recipients and their offspring will be negligible. I forecast that on average they will be unable to pay they own way through life, much less contribute enough tax for the government to recoup whatever their parents received from the tax credits. This is a pessimistic view, but one based in reality. Juan Williams is right that this certainly is a game; it’s just not a changer.
Let’s reward welfare queens for getting knocked up by various baby-daddies by paying them to get knocked up by even more of them . Brilliant!
It is a loan that future generations will indeed have to pay back. Debt is never forgiven. And they will pay one way or another... If not with taxes it will be with blood, labor, or servitude. But they will as a whole have to pay back this debt.
I am particularly interested in this one, because next Feb-Apr I will be one of those paid tax preparers who have to explain it to people. Hopefully the press releases and media reports will be as happy to explain that as they are right now in bragging about how government has solved poverty forever. (again) /s
I’ll agree that there is no free lunch, but the people who receive benefits do not necessarily do the paying.
Take for example the Greek fiscal debacle from a couple of years ago. The corrupt government borrowed massively. Insiders with more or less no-show government jobs received salaries and benefits; many were given full retirement pay after “working” a couple of years. The lenders called a halt and the government was broke. Who had to pay? Productive working and businesspeople who had received nothing. The leeches paid back nothing.
In realityt he increase in either the tax credit or tax deduction for children is long overdue.
Americans want to have more children, but the number one barrier for them is financial. This is known from decades of poling. Meanwhile we keep taxes high, don’t keep child tax credits or deductibles for dependents up with inflation all while importing 2 million legal immigrants, at least a million illegal immigrants & hundreds of thousands of HB1 & 2 VISAS to do the work ‘Americans’ would do if they paid better.
We are supporting every fake ‘refugee’ to the tune of over $70,000 per year per fraud!
the theft is still happening. Government is just taking the money from you
The new CTC is only $1000 more for kids over 6 and $1600 for kids under 6.
If America was really that close to eliminating poverty for 5 million families, it would have been done years ago.
Nothing but a pack of lies from the admin.
Nope it means fifty million children will live in poverty in 30 years...NOT 5 milion.
Just like money given to 'help' the homeless in the 1990's when 'homelessness' was a minor problem, this stupidity will balloon up the misery of millions of future children and add to the incentive package emptying out third world hellholes by bringing them here... Columbia's 'professors' are well known commie fronts...
Eff 'em.
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