Child tax credit cuts childhood poverty in half

[UsualName]

Just like that, presto change-o there is half as much food insecurity in America for children and more stability at home as they grow up. If you don’t feel a little bit of joy about this then there is something deeply wrong with your soul.

https://www.reuters.com/world/us/biden-tout-program-likened-universal-basic-income-kids-2021-07-15/

It is refreshing to actually put poor and working Americans ahead the wealthy and the corporations.

 

[Mercor]

Hopefully the money goes to the kids

 

[UsualName]

Hopefully the money goes to the kids

Glib. As if people don’t care about their children.

 

[Mercor]

Glib. As if people don’t care about their children.

I figured you would reply like this...its not all or nothing
You need to define "care for children"

An 17 year old single mother has the grandmother raise the kids so she can spend time at the club..Where will she use the money

One can pick examples to represent the good of this payment and the bad of it.

In both cases the mother "cares about her children" in her mind

 

[elderado]

Twenty years ago.

 

[UsualName]

I figured you would reply like this...its not all or nothing
You need to define "care for children"

An 17 year old single mother has the grandmother raise the kids so she can spend time at the club..Where will she use the money

One can pick examples to represent the good of this payment and the bad of it.

In both cases the mother "cares about her children" in her mind

The good of this credit and the innovative payment structure vs the “bad” isn’t even close. It’s a great-great program for American families and especially for the working class and poor. The stability it creates will make a world of difference to literally millions of kids.

 

[Mercor]

The good of this credit and the innovative payment structure vs the “bad” isn’t even close. It’s a great-great program for American families and especially for the working class and poor. The stability it creates will make a world of difference to literally millions of kids.

This program just adds to the existing program and pays monthly instead on yearly

Did anybody study the effects of the existing program and is the amount of money the only thing that kept the existing program from working or is it how the money was spent.

 

[UsualName]

This program just adds to the existing program and pays monthly instead on yearly

Did anybody study the effects of the existing program and is the amount of money the only thing that kept the existing program from working or is it how the money was spent.

Firstly, the program is restructured and reaches more families at the lower income levels. Secondly, studies showed the yearly credit did not impact families as much as was intended originally because many families that lived paycheck to paycheck ended up using the credit to catch up on bills or to make repairs to things like cars and homes that had been put off. I’m sure you’ve heard that the majority of households don’t have the financial wherewithal for a $400 unexpected expense in any single month. Having the credit distributed monthly makes bills more manageable, reduces interest and credit card debt, and makes food affordable at the lower income level.

Why are so crotchety? I don’t understand people like you. What makes you so morose and indifferent to the suffering of people?

 

[Mercor]

Firstly, the program is restructured and reaches more families at the lower income levels. Secondly, studies showed the yearly credit did not impact families as much as was intended originally because many families that lived paycheck to paycheck ended up using the credit to catch up on bills or to make repairs to things like cars and homes that had been put off. I’m sure you’ve heard that the majority of households don’t have the financial wherewithal for a $400 unexpected expense in any single month. Having the credit distributed monthly makes bills more manageable, reduces interest and credit card debt, and makes food affordable at the lower income level.

Why are so crotchety? I don’t understand people like you. What makes you so morose and indifferent to the suffering of people?

Yes, This program goes way above the child poverty levels that are an issue...It goes way up to people making 110k a year...Sometimes referred to as voters

The half at $400....True for the bottom 10-15%.
For the rest it assumes that these people have no disposable income. I would say the cause is that people get their checks and spend all their money before the next check, by choice.

The question should have been if you needed $400 to pay a bill how long would it take you to get....If you choose to save $400 could you

 

[UsualName]

Yes, This program goes way above the child poverty levels that are an issue...It goes way up to people making 110k a year...Sometimes referred to as voters

The half at $400....True for the bottom 10-15%.
For the rest it assumes that these people have no disposable income. I would say the cause is that people get their checks and spend all their money before the next check, by choice.

The question should have been if you needed $400 to pay a bill how long would it take you to get....If you choose to save $400 could you

The child tax credit is not an anti poverty program nor is it meant to coerce tax payers into narrowly budgeting their household incomes. It is a broad credit that impacts literally tens of millions of households of varying income levels.

The effect of restructuring will reduce child poverty through monthly disbursement of the credit. Families in higher incomes can easily opt out of the monthly disbursement if they choose but I don’t know why they would want to not get interest on their money or pay down their mortgages or car notes sooner.

If you have kids, you most likely received the credit at some point in the last 30 years. Or, your family members, neighbors etc.