this post was submitted on 20 Aug 2024
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Housing Bubble 2: Return of the Ugly

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Harris wants to give a $6,000 tax credit to parents of newborns. Here's what to know. (www.cbsnews.com)
submitted 4 months ago by SeattleRain to c/housing_bubble_2
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[–] Yawweee877h444 11 points 4 months ago (3 children)

I dont really support this for important reasons, but won't gripe about it much.

The problem I have with things like this is, people shouldn't be encouraged to have kids due to monetary rewards in any fashion. And there will undeniably be some bad apples who will have a kid because of the money, when they otherwise wouldn't. Bad reason to have a kid. I feel bad for the kids.

However, I'd support it regardless even if I disagree with it conceptually. Although there will undoubtedly be some abuse of the system, there will also undoubtedly be many honest parents out there in situations where the money will be extremely helpful. So good.

[–] [email protected] 8 points 4 months ago (1 children)

$6k is the average cost of a child birth so not going far with it unless you have traditional health insurance. Even then, kids are expensive.

[–] Yawweee877h444 6 points 4 months ago

Not the point. There will be some low income, low educated people to see the 6k as a reason to go for it just because of the money. Some low educated people do unfortunately think that way. Even so im still glad it will help people in need.

Regardless and more importantly, if we had socialized, single-payer medicaire for all, this 6k wouldn't even be necessary. I'd rather push for this than a one time cash payout. Since there will be hospital bills and insurance co-pays and whatnot for having a child, this 6k is almost an indirect subsidy directly to the insurance companies. And it's paid for by tax dollars.

And unfortunately single payer isn't even an issue discussed publicly any more.

[–] lemmus 6 points 4 months ago

$6k isn’t going to be very profitable, but this tax credit would help parents raise their kids free of financial hardship. It’s $500 per month, and food, diapers, clothing, equipment, and unpaid leave aren’t cheap!

[–] [email protected] 2 points 4 months ago

Kids cost far more than this, so if someone did this for the money, they're just shooting themselves in the foot.

It would be incredibly valuable for first-time parents, many of whom get caught off guard by the costs.

[–] [email protected] 9 points 4 months ago

Makes sense pretty close to subsidizing child birth. Great way to break the burden on lower income families with high deductible or no health insurance.

[–] [email protected] 9 points 4 months ago (1 children)

Cost of living keeps going up each year, especially for raising a child. Young folks are statistically waiting longer or opting not to have children. Statistically, you start making fewer babies than elderly dying off. At some point, if you don't anything, the "replacement rate" falls low enough so you're heading toward a demographic time-bomb.

Countries like South Korea and Japan have been fighting this realization for twenty years. They've tried all these steps, from appealing to patriotic duty, to creating official dating/matchmaking apps, to offering tax breaks and outright cash grants. The only thing that works is to import people from places with the reverse issue -- too many babies. But that is both a cultural and political hot-button issue. Don't really see any other way out.

[–] moistclump 1 points 4 months ago

Which I think is ok IF there’s enough immigration and appeal to people moving over to balance it out. But. Yeh. America may not have a good time.

[–] riodoro1 8 points 4 months ago (1 children)

Oh yes, too few humans being born, that’s our problem!

[–] [email protected] 7 points 4 months ago (1 children)

It is when you're trying to run a pyramid scheme. How else are those at the top expected to stay there if they don't have a large foundation of exploitable young minds?

[–] riodoro1 1 points 4 months ago

Wait. So the global economy is just a Ponzi scheme?

[–] Linkerbaan 4 points 4 months ago

Free beer promises always get delivered

[–] hexadence 3 points 4 months ago

The meat grinder is starving. RIP

[–] Thcdenton 2 points 4 months ago

[–] [email protected] 1 points 4 months ago

I would give anything for the US congress to pass legislation for 1 year of paid maternity leave (and some paid paternity/other parent leave as well).

But that might be seen as healthcare, and we can't have that. We must preserve the cruelty of the privatized, for-profit health system.