Results 1 to 2 of 2
Thread Information
Users Browsing this Thread
There are currently 1 users browsing this thread. (0 members and 1 guests)
-
11-25-2018, 08:31 AM #1
Kamala Harris, Cory Booker ‘basic income’ plans likely remove work incentive
Kamala Harris, Cory Booker ‘basic income’ plans likely remove work incentive, think tank says
By Dom Calicchio | Fox News
Sen. Kamala Harris is proposing a new tax credit. Sen. Cory Booker proposes "opportunity accounts." (Associated Press)
Two Democrats in the U.S. Senate – both said to be eyeing the party’s 2020 presidential nomination -- recently announced so-called “basic income” plans for America’s lower-income families. A liberal publication, meanwhile, says neither plan goes far enough to aid families, and the government should instead just start “writing them checks.”
But the Heritage Foundation argues that such plans tend to fail, in part because they tend to remove the incentive for work.
Vijay Menon @VijayKMenIn October, Sen. Kamala Harris, D-Calif., unveiled her LIFT the Middle Class Act. It would provide a tax credit of up to $6,000 a year to families earning less than $100,000 a year, and a credit of up to $3,000 for those earning less than $50,000 a year, the Washington Times reported.
New from me in @DailySignal: Universal basic income has been tried before—but it didn't work. https://dailysign.al/2NxeBj3
51
11:33 AM - Oct 9, 2018
“Middle class families deserve to know that one unexpected cost won’t lead to a financial emergency,” Harris tweeted last month, when the plan was unveiled. “The LIFT the Middle Class Act that I introduced would help address the rising costs of housing, tuition, childcare, and more.”
But the nonpartisan Tax Policy Center estimated earlier this month that Harris’s plan would add $2.8 trillion to the federal deficit over its first decade and another $3.4 billion over its second decade, the Washington Post reported.
Tax Policy Center ✔ @TaxPolicyCenter
#ICYMI @ElaineMaag evaluates Senator @KamalaHarris #LIFT bill on TaxVox. https://tpc.io/2E9bGOo
10:16 AM - Oct 19, 2018
Twitter Ads info and privacy
Senator Harris Seeks To Raise Incomes Using A New Tax Credit
Senator Kamala Harris (D-CA) is proposing to raise the incomes of working families through a new tax proposal called the “LIFT (Livable Incomes for Families...
taxpolicycenter.org
Harris proposed paying for her plan by canceling parts of the Republican Party’s tax cuts and charging a new tax on banks and other financial institutions, the report said.
Meanwhile, Sen. Cory Booker, D-N.J., proposed last month the creation of “opportunity accounts” for the nation’s children, which could grow to about $46,000 per child by the time they turn 18, Business Insider reported.
“Today, nearly one in three American families have zero to negative wealth, and it’s hard to get ahead if you begin life behind the starting line,” Booker said of the plan, the Washington Times reported.
Watchdog.org estimated that Booker’s plan would cost American taxpayers at least $60 billion annually.
Watchdog.org ✔ @WatchdogorgSee Watchdog.org's other Tweets
Proposed taxpayer-funded savings accounts would cost at least $60 billion. https://www.watchdog.org/national/proposed-taxpayer-funded-savings-accounts-would-cost-at-least-billion/article_15e8b414-de1b-11e8-bb6b-c3a39f4310aa.html#utm_campaign=blox&utm_source=twi tter&utm_medium=social …
9:27 AM - Nov 5, 2018
Twitter Ads info and privacy
Proposed taxpayer-funded savings accounts would cost at least $60 billion
U.S. Sen. Cory Booker wants to give every U.S. citizen a taxpayer funded savings account at birth by reversing the federal tax cuts supported by President Donald Trump. He plans
watchdog.org
But liberal publication the Nation claims that both wealth distribution plans fall short.
“Harris’s plan suffers from two problems,” author Bryce Covert writes in the publication. “The first is who she leaves out. By matching only the income that poor families earn from work, it omits those who don’t earn anything.”“Harris’s plan suffers from two problems. The first is who she leaves out. By matching only the income that poor families earn from work, it omits those who don’t earn anything.”The second problem with Harris’s plan, he writes, “is that she still relies on giving money to families through the tax code, an opaque and complicated way of doing it.”
— Bryce Covert, writing in the Nation
Covert then hails Booker’s plan for “sending money straight to the people who need it,” but says it “mistimes the assistance,” providing it when youths reach adulthood, “when most families are more economically stable.”
The Nation ✔ @thenation41 people are talking about this
Just Write Families Checks http://bit.ly/2DTUDi9
49
8:31 AM - Nov 23, 2018
Twitter Ads info and privacy
Just Write Families Checks
Senators Kamala Harris and Cory Booker have bold new plans to fight poverty, but they miss out on simpler strategy: a child allowance.
thenation.com
He suggests instead that both plans be set aside in favor of Russell Sage Foundation researchers’ suggestion that parents be sent “at least $250 a month for each child,” a plan estimated to cost U.S. taxpayers $190 billion per year.
“That’s still less than what’s been estimated for Harris’s plan,” Covert writes, “and less than the recent Republican tax cuts are likely to cost over the next three years.”
But the Heritage Foundation’s Vijay Menon wrote last month that plans similar to the recent liberal proposals have been tried before – only to fail.
Menon writes that a “negative income tax” experiment ran in six states from 1968 to 1980, and was documented by libertarian writer Charles Murray, author of “Losing Ground.”
“In ‘Losing Ground,’” Menon writes, “Murray concluded that the effect of the negative income tax on reducing work was ‘unambiguous and strong.’ ”
“If recipients lost their jobs during the experiment,” Menon notes, “they experienced significantly longer spells of unemployment compared with non-recipients — more than two months longer for husbands, almost a year longer for wives, and longer still for single mothers.”
In summary, Menon writes, such plans are “a misguided approach.”
“Policy should be designed to reward work, rather than replace it,” Menon writes. Therefore, a better alternative to a universal basic income would be to expand the earned income tax credit.”
https://www.foxnews.com/politics/kam...mfVHfTIO3dNIw8If you're gonna fight, fight like you're the third monkey on the ramp to Noah's Ark... and brother its starting to rain. Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
-
11-25-2018, 08:52 AM #2
Do not have kids you cannot afford...end of story.
No more free stuff!ILLEGAL ALIENS HAVE "BROKEN" OUR IMMIGRATION SYSTEM
DO NOT REWARD THEM - DEPORT THEM ALL
Similar Threads
-
Cory Booker Claims Canada Is More American Than America, Gives Insane Reason
By Airbornesapper07 in forum Other Topics News and IssuesReplies: 1Last Post: 10-19-2018, 05:28 AM -
White House Slams Kamala Harris. Harris Fires Back. Shapiro Wrecks Her With One Tweet
By lorrie in forum illegal immigration News Stories & ReportsReplies: 1Last Post: 07-02-2018, 10:44 PM -
FACT CHECK: Cory Booker Is Neither a ‘Truth-Teller’ Nor a ‘Determined Purveyor of The
By Newmexican in forum General DiscussionReplies: 0Last Post: 03-11-2017, 12:15 PM -
Cory Booker Supporters Heckle White Opponent: “Go Back Where You Came From” – Update:
By kathyet2 in forum General DiscussionReplies: 7Last Post: 03-11-2014, 02:55 PM -
Cory booker Busted..........never lived in Newark.
By Reciprocity in forum General DiscussionReplies: 9Last Post: 10-16-2013, 02:24 AM
Listen to William Gheen on Rense Apr 24, 2024 talking Invasion...
04-25-2024, 02:03 PM in ALIPAC In The News