4 ms·
The US already received a more politically palatable form of UBI when the automatic child tax credit hit. Couples making up to 400k get money direct deposited e
by seibelj 5y ago
The US already received a more politically palatable form of UBI when the automatic child tax credit hit. Couples making up to 400k get money direct deposited every month per child. 0% chance this will ever be rescinded.
I would say Yang introduced an issue single-handedly into the conversation and it was implemented quite quickly without any discussion because of the unique pandemic situation. Will be interesting to see the long term research that emerges from this.
- _-david-_ 5y agoTax breaks are not the same thing as "money direct deposited every month".
- bpodgursky 5y agoIt's a refundable tax credit... this is actually the same as cash.
- toomuchtodo 5y agoOnly if you have kids. Not so universal.
- anonporridge 5y agoAlternatively, universal, but it cuts off at 18.
- ch4s3 5y agoI’m suddenly imagining a Dickensian market for orphans in a future of ever more generous child tax credits.
- DaiPlusPlus 5y agoThis is the reason why many unscrupulous couples decide to start fostering kids, btw.
- ch4s3 5y agoYeah, but I was joking. This is sad.
- deleted 5y ago[deleted]
- rootusrootus 5y agoIt's disbursed on a monthly basis by check or direct deposit, even if it is a tax credit.
- deleted 5y ago[deleted]
- caeril 5y agoYes, I got my child tax credit early. Moving application of a credit I normally get anyway up 6 months is exactly the same thing as UBI. Good point. I'm sure I'm going to appreciate this April 15th 2022 when my liability is much larger than usual because my credit was already paid out.
- deleted 5y ago[deleted]
- wonderwonder 5y agoI went to the irs site and canceled mine. No interest in getting money during the year and then owing more come tax time.
- _jal 5y agoIt is hardly 'U' when limited to those who produce children.