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The New Coffee Room

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  3. $3000 per child economic stimulus

$3000 per child economic stimulus

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  • G Offline
    G Offline
    George K
    wrote on 7 Feb 2021, 14:23 last edited by
    #2

    Wow, that money tree in the backyard of the White House sure grew quickly!

    "Now look here, you Baltic gas passer... " - Mik, 6/14/08

    The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

    J 1 Reply Last reply 7 Feb 2021, 14:36
    • M Offline
      M Offline
      Mik
      wrote on 7 Feb 2021, 14:25 last edited by
      #3

      i like targeting the payments better but this seems excessive.

      “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

      1 Reply Last reply
      • C Offline
        C Offline
        Catseye3
        wrote on 7 Feb 2021, 14:32 last edited by
        #4

        Maybe they're setting a high amount so as to allow themselves to "compromise" at a lower amount?

        I'm with George on this. What will the bill-due look like?

        Success is measured by your discipline and inner peace. – Mike Ditka

        A 1 Reply Last reply 7 Feb 2021, 14:40
        • G George K
          7 Feb 2021, 14:23

          Wow, that money tree in the backyard of the White House sure grew quickly!

          J Online
          J Online
          jon-nyc
          wrote on 7 Feb 2021, 14:36 last edited by
          #5

          MMT here we come.

          "You never know what worse luck your bad luck has saved you from."
          -Cormac McCarthy

          J 1 Reply Last reply 10 Feb 2021, 03:48
          • J Online
            J Online
            jon-nyc
            wrote on 7 Feb 2021, 14:36 last edited by
            #6

            @george-k said in $3000 per child economic stimulus:

            Wow, that money tree in the backyard of the White House sure grew quickly!

            Actually it grew last year. The problem with this proposal is they're assuming it doesn't have to shrink back.

            "You never know what worse luck your bad luck has saved you from."
            -Cormac McCarthy

            1 Reply Last reply
            • C Catseye3
              7 Feb 2021, 14:32

              Maybe they're setting a high amount so as to allow themselves to "compromise" at a lower amount?

              I'm with George on this. What will the bill-due look like?

              A Offline
              A Offline
              Axtremus
              wrote on 7 Feb 2021, 14:40 last edited by
              #7

              @catseye3 said in $3000 per child economic stimulus:

              What will the bill-due look like?

              I estimate $200B to $250B for a full year, a bit over 1% of US GDP.

              1 Reply Last reply
              • J Online
                J Online
                jon-nyc
                wrote on 7 Feb 2021, 14:41 last edited by jon-nyc 2 Jul 2021, 14:42
                #8

                In fact this program would cost "only" 200B a year or so. Compare that to three separate trillion dollar+ bailouts last year.

                Considering that even pre-covid, federal spending was ~4T, this is only 5% of that.

                And it's probably a better use of funds than many other similar expenses in the budget.

                "You never know what worse luck your bad luck has saved you from."
                -Cormac McCarthy

                1 Reply Last reply
                • M Offline
                  M Offline
                  Mik
                  wrote on 7 Feb 2021, 15:13 last edited by Mik 2 Jul 2021, 15:15
                  #9

                  That it has merit in terms of effect on people is clear. But its borrowed money. Money we don’t have. If you can cut out other programs to find it then maybe.

                  “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                  C 1 Reply Last reply 7 Feb 2021, 15:36
                  • A Offline
                    A Offline
                    Axtremus
                    wrote on 7 Feb 2021, 15:29 last edited by
                    #10

                    https://www.nytimes.com/2021/02/06/opinion/sunday/mitt-romney-family-plan.html

                    Ross Douthat on Romney’s plan, focusing on its objective to boost birth rates.

                    G 1 Reply Last reply 7 Feb 2021, 15:31
                    • A Axtremus
                      7 Feb 2021, 15:29

                      https://www.nytimes.com/2021/02/06/opinion/sunday/mitt-romney-family-plan.html

                      Ross Douthat on Romney’s plan, focusing on its objective to boost birth rates.

                      G Offline
                      G Offline
                      George K
                      wrote on 7 Feb 2021, 15:31 last edited by
                      #11

                      @axtremus said in $3000 per child economic stimulus:

                      its objective to boost birth rates

                      Another generation of "Welfare Mamas."

                      "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                      The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                      C A 2 Replies Last reply 7 Feb 2021, 15:40
                      • M Mik
                        7 Feb 2021, 15:13

                        That it has merit in terms of effect on people is clear. But its borrowed money. Money we don’t have. If you can cut out other programs to find it then maybe.

                        C Offline
                        C Offline
                        Catseye3
                        wrote on 7 Feb 2021, 15:36 last edited by
                        #12

                        @mik said in $3000 per child economic stimulus:

                        If you can cut out other programs to find it then maybe.

                        Silly Mik.

                        37bda1ba-2d3a-473b-aaa4-549fae83e078-image.png

                        Success is measured by your discipline and inner peace. – Mike Ditka

                        1 Reply Last reply
                        • G George K
                          7 Feb 2021, 15:31

                          @axtremus said in $3000 per child economic stimulus:

                          its objective to boost birth rates

                          Another generation of "Welfare Mamas."

                          C Offline
                          C Offline
                          Copper
                          wrote on 7 Feb 2021, 15:40 last edited by
                          #13

                          @george-k said in $3000 per child economic stimulus:

                          @axtremus said in $3000 per child economic stimulus:

                          its objective to boost birth rates

                          Another generation of "Welfare Mamas."

                          Planned Parenthood is going to demand inclusion and equity.

                          1 Reply Last reply
                          • G George K
                            7 Feb 2021, 15:31

                            @axtremus said in $3000 per child economic stimulus:

                            its objective to boost birth rates

                            Another generation of "Welfare Mamas."

                            A Offline
                            A Offline
                            Axtremus
                            wrote on 7 Feb 2021, 15:55 last edited by
                            #14

                            @george-k said in $3000 per child economic stimulus:

                            Another generation of "Welfare Mamas."

                            When the high income folks don’t reproduce (or do so at a pace significantly below the population replacement rate) and leave the burden of population replenishment to the lower income folks, it’s only fair that some of the resources get redistributed to help with raising the replacement population under the care of the lower income folks. With that rationale, I would argue that the means testing for such welfare to also take the # of children as an input. So the more kids you raise, meaning the more you contribute to the care for the nation’s replacement population, the more wealth gets redistributed your way.

                            What’s in it for the high income folks? New blood to continue paying into their Social Security and Medicare trust funds, able bodies to care for them in healthcare facilities, to maintain their senior living infrastructures, to maintain civilization for these old rich people to live out the rest of their lives. 😁

                            1 Reply Last reply
                            • A Offline
                              A Offline
                              Axtremus
                              wrote on 7 Feb 2021, 16:07 last edited by
                              #15

                              Romney’s two-page brochure for his proposed “Family Security Act”:
                              https://www.romney.senate.gov/sites/default/files/2021-02/family security act_one pager.pdf

                              1 Reply Last reply
                              • T Offline
                                T Offline
                                taiwan_girl
                                wrote on 7 Feb 2021, 17:45 last edited by
                                #16

                                Falling birth rates are a problem in developed countries. The only reason the US population is not decreasing is because of immigration.

                                Look at the issues countries like Japan and Italy are facing.

                                L 1 Reply Last reply 7 Feb 2021, 20:53
                                • L Offline
                                  L Offline
                                  LuFins Dad
                                  wrote on 7 Feb 2021, 18:04 last edited by
                                  #17

                                  Romney's plan is such a bad idea on so many frigging levels. I am embarrassed to say I voted for him if this is his idea of good policy.

                                  The Democrat idea isn't as atrocious if it's a one year expansion of last year's child tax credit. Still don't care for it, but it's not as big of a deal as it looks. If it's a permanent change, however...

                                  The Brad

                                  1 Reply Last reply
                                  • T taiwan_girl
                                    7 Feb 2021, 17:45

                                    Falling birth rates are a problem in developed countries. The only reason the US population is not decreasing is because of immigration.

                                    Look at the issues countries like Japan and Italy are facing.

                                    L Offline
                                    L Offline
                                    Loki
                                    wrote on 7 Feb 2021, 20:53 last edited by
                                    #18

                                    @taiwan_girl said in $3000 per child economic stimulus:

                                    Falling birth rates are a problem in developed countries. The only reason the US population is not decreasing is because of immigration.

                                    Look at the issues countries like Japan and Italy are facing.

                                    Bingo.

                                    1 Reply Last reply
                                    • A Offline
                                      A Offline
                                      Axtremus
                                      wrote on 9 Feb 2021, 21:58 last edited by
                                      #19

                                      More details ...

                                      https://www.cnbc.com/2021/02/09/democrats-include-3000-dollar-child-tax-credit-in-covid-relief.html

                                      The estimated cost to giving $3000 per child is $120 Billion per year (much lower than what I previously estimated), and if that is made “permanent,” is expected to lift 4.1 million children out of poverty.

                                      J L 2 Replies Last reply 9 Feb 2021, 22:22
                                      • A Axtremus
                                        9 Feb 2021, 21:58

                                        More details ...

                                        https://www.cnbc.com/2021/02/09/democrats-include-3000-dollar-child-tax-credit-in-covid-relief.html

                                        The estimated cost to giving $3000 per child is $120 Billion per year (much lower than what I previously estimated), and if that is made “permanent,” is expected to lift 4.1 million children out of poverty.

                                        J Online
                                        J Online
                                        jon-nyc
                                        wrote on 9 Feb 2021, 22:22 last edited by jon-nyc 2 Sept 2021, 22:23
                                        #20

                                        @axtremus said in $3000 per child economic stimulus:

                                        (much lower than what I previously estimated)

                                        Me too. It's because it includes the already existing 2k child tax credit.

                                        This adds 1k, and makes it refundable and 'advanceable'.

                                        "You never know what worse luck your bad luck has saved you from."
                                        -Cormac McCarthy

                                        1 Reply Last reply
                                        • A Axtremus
                                          9 Feb 2021, 21:58

                                          More details ...

                                          https://www.cnbc.com/2021/02/09/democrats-include-3000-dollar-child-tax-credit-in-covid-relief.html

                                          The estimated cost to giving $3000 per child is $120 Billion per year (much lower than what I previously estimated), and if that is made “permanent,” is expected to lift 4.1 million children out of poverty.

                                          L Offline
                                          L Offline
                                          LuFins Dad
                                          wrote on 9 Feb 2021, 22:24 last edited by
                                          #21

                                          @axtremus said in $3000 per child economic stimulus:

                                          More details ...

                                          https://www.cnbc.com/2021/02/09/democrats-include-3000-dollar-child-tax-credit-in-covid-relief.html

                                          The estimated cost to giving $3000 per child is $120 Billion per year (much lower than what I previously estimated), and if that is made “permanent,” is expected to lift 4.1 million children out of poverty.

                                          It's an increase of $1000 per year. $1000 per year will lift 4.1 million children out of poverty? Color me skeptical.

                                          The Brad

                                          J 1 Reply Last reply 9 Feb 2021, 22:46
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