Rep Tlaib’s New Plan Practically Encourages Poverty
Tlaib’s new plan will disincentivize people from working to get better-paying jobs. The plan involves giving government handouts (tax credits) to almost everyone making less than 100k. Why work to attain that better pay when the government will give you the raise you need?
“Tlaib’s bill would give direct cash help to those at the bottom of the income distribution — annually offering $3,000 to individuals and $6,000 to families — in an attempt to reduce poverty in the United States and bolster the wages of the poor.”
“It’s earned income tax credits on steroids,” Tlaib said. “This is basically a broader umbrella for families that make $50,000 or less if you are single, or $100,000 or less if you are a family.”
“That’s the economy we need to be talking about,” said Danielle Atkinson of Mothering Justice. “People who are giving back to our community, not the corporations.”
“Both our state and the city of Detroit have seen economic comebacks lately, but that’s not lifting everyone up,” said Alex Rossman, Michigan League for Public Policy.
“The proposal offered by Tlaib, a member of the Democratic Socialists of America and political ally of socialist congresswoman Alexandria Ocasio-Cortez, D-N.Y., would cost “trillions” of dollars, according to the Washington Post’s report, and serves as yet another reminder that many Democrats have absolutely no clue how basic economics works.
For starters, giving cash even to those who are unwilling to work would discourage them from finding a job, working more hours, or applying for a promotion. Why work harder—or even at all—if government is going to send you a check every month for doing nothing?
This one problem alone would severely and negatively impact economic growth. The U.S. Bureau of Labor Statistics reports there are currently more than 7.48 million job openings. How many millions more would be available if people were encouraged by checks from the government to cut back their hours or avoid work altogether?
Second, as any undergraduate student in a freshman-level economics class could tell you, flooding the market with cash would quickly cause prices of all sorts of consumer goods and services to increase, negating the alleged benefits offered by the plan for those who qualify for the tax credit. In the end, these consumers’ purchasing power would likely remain the same.”
Tlaib means well but where does she think this extra money will come from? Is she planning to raise taxes on the very people that she is going to pay? Federally funded means taxpayer funded.
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