Sunday , July 21 2024
Home / The Angry Bear / A Natalist, Nativist, Nationalist Case for the Child Tax Credit

A Natalist, Nativist, Nationalist Case for the Child Tax Credit

Summary:
One of the policies with the greatest effect on poverty is the ild tax credit (expanded and made fully refundable by the American Reesue Plan). It caused a 44% reduction of child poverty. UNfortunately it was a tempory one year program (approptiate for stimulus bu not for an always needed prgram). It was not renewed and there was a huge increase in povertyThis is a hugely important policy issue (currently totally impossible with GOP control of the House). There was not overwhelming support for the program — fully refundable sounds like welfare. To be blunt, some of the money went to African Americans. I think there is a rhetorical trick which might maybe even work. I think the history of generous child credits suggests that fighting poverty was

Topics:
Robert Waldmann considers the following as important:

This could be interesting, too:

Editor writes Hudson on Super Imperialism 1

Jim Stanford writes New U.K. Government Signals Ambition on Labour Reforms

Editor writes U.S. Top 1% now have more wealth than the middle class

John Quiggin writes Sex, lies and Videotape

One of the policies with the greatest effect on poverty is the ild tax credit (expanded and made fully refundable by the American Reesue Plan). It caused a 44% reduction of child poverty. UNfortunately it was a tempory one year program (approptiate for stimulus bu not for an always needed prgram). It was not renewed and there was a huge increase in povertyThis is a hugely important policy issue (currently totally impossible with GOP control of the House). There was not overwhelming support for the program — fully refundable sounds like welfare. To be blunt, some of the money went to African Americans.

I think there is a rhetorical trick which might maybe even work. I think the history of generous child credits suggests that fighting poverty was not the only objective. There was also the goal of increasing natality, often frankly aimed at producing footsoldiers for the next war. The aim was to create incentives to make babies.The concern was low fertility not (just) high child poverty. I think a case for an expanded child tax credit can be made which might convince some natalist natavist nationalist Americans who are alarmed that imigration will be necessary to have people to pay the payroll tax to support boomers.

The argument is that native born Americans are dying off with fertility below the replacement rate. In 2022 it was1.67 well below the replacement rate of 2.1 In this the USA has joined other rich countries (which are notably more generous with children that the USA). Logically this should terrify the numerous xenophobic nationalists who now oppose the expanded child tax credit. Logically they should support incenI type,tives for US citizen adults to make babies. “Logically” hah, they do not use this “logic” of which I type. But hey it’s worth a try

Robert Waldmann
Robert J. Waldmann is a Professor of Economics at Univeristy of Rome “Tor Vergata” and received his PhD in Economics from Harvard University. Robert runs his personal blog and is an active contributor to Angrybear.

Leave a Reply

Your email address will not be published. Required fields are marked *