Listen to thisReducing child poverty
Re “Handouts Are Often Better Than a Hand Up,” by Jeff Madrick (Op-Ed, April 7): While I applaud the proposals by Mr. Madrick and others to tackle child poverty, they ignore fiscal reality by adding yet another new benefit on top of our current maze of programs. Children deserve more than a kludge – a clumsy collection of various parts that serve only as a stopgap.
Consider that the budget deficit amounted to about 2.5 percent of gross domestic product last year and is projected to grow over the next decade. To introduce a new program whose cost may reach an additional 1.1 percent of G.D.P. is to needlessly spend money we don’t have.
Fortunately, the United States already administers over $170 billion in child-related tax benefits, including the child tax credit, earned income tax credit, dependent exemption, child and dependent care tax credit, and head of household filing status. Policy makers should consolidate these into a single, fully refundable child tax credit aimed at families most in need.
My research on Canada’s experience suggests that reform through consolidation is the only fiscally responsible way to reduce child poverty without breaking the bank.
Joshua McCabe
Wellesley, Mass.
13 April 2016
http://www.nytimes.com/2016/04/14/opinion/reducing-child-poverty.html
