Biden's Child Tax Credit as Universal Basic Income

[Doremus]

https://prospect.org/economy/bidens-child-tax-credit-as-universal-basic-income/

For several decades, child advocates have tried to bring more public indignation to the scandal of extreme child poverty, and have pushed for the expansion of the Child Tax Credit. In recent years, some progressives have called for something that seemed even more utopian, a 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.

It’s not enough, but it’s one hell of a leap forward—that will create momentum for more leaps. And a special shout-out to Rep. Rosa DeLauro (D-CT), who has been this idea’s champion for decades.

Wow, this is such wonderful news!

[Goodheart]

1. Then make it THAT. Universal basic income. Not some incentive to have children.

I am very much opposed.

[FoxNewsSucks]

2. Agreed.

It should be per household. Not per person/child.

[aquamarina]

3. I agree

[Haggard Celine]

4. Me too.

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]

11. Exactly.

[honest.abe]

13. This payment is a fraction of what it costs to raise a child.

I would be surprised if anyone decides to have more children based on getting extra 300 / month. Although it certainly helps.

[Goodheart]

14. I wouldn't be.

[honest.abe]

15. Even so, is that bad??

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]

16. Our birth rate NEEDS to be in decline.

We already have too many people. I don't agree that population decline will be bad for our society.

[honest.abe]

17. Clearly that's a debatable topic.

I tend to agree with you up to a point. Not sure exactly where that point is.

[Goodheart]

18. Indeed.

I just know that wilderness areas are scarce, privacy is rare, natural resources are dwindling, and property values are through the roof.

[PoindexterOglethorpe]

5. The only thing that bothers me is that younger kids get more money.

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]

12. Daycare is a budget killer.

When our kid starts going to public school next year we will be saving over 1000 month.

[Meowmee]

6. UBI should be for everyone

Not a tax credit for children.

[Doremus]

8. That's good except it isn't UBI. It's the American Rescue Plan tax credit. nt

[Meowmee]

9. Am I missing something here?

The article title and op says tax credit for children as universal basic income.

[Doremus]

7. I'm not hearing the usual DU mantra.

"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]

10. I have a more holistic outlook than just giving money to people with children,

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.