2 ms·
> Someone making > $100k would definitely benefit from this being raised and I think it's one of the few areas in the US that the left and right generally agree
by curryst 5y ago
> Someone making > $100k would definitely benefit from this being raised and I think it's one of the few areas in the US that the left and right generally agree. I would love to see this raised to $5k or higher.
That money has to come from somewhere. Given that a $100k salary is above the median, I would be unsurprised if you end up paying somewhere close to $5k in taxes to get your $5k benefit. It goes down a little bit because not everyone has kids and they subsidize you, and then up a little bit so you can subsidize people who don't earn enough to have contributed $5k.
That's the problem with trying to subsidize things for the higher end of the earning spectrum. Those subsidies have to come from somewhere; either the even higher earning side of the spectrum, or the poorer side of the spectrum. We might recoup those costs in time through a more productive economy, but someone has to pay today for the benefits later.