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The Something Awful Forums > Discussion > C-SPAM > Midterm Bloodbath Prognostication Zone
 
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Sep 30, 2009
 Some reminders about the details of glorious achievement that is the dem's relief bill, since they'll be campaigning on that since it is one of the few things they have worth talking about. It would have temporarily brought half the families who make under ~26k-ish with children above that arbitrary number if the bill had also included the 15 minimum wage provision and if we assume everyone in the country has time and ability to navigate all federal forms and processes correctly and makes optimal choices while doing so.

(for a fun time, compare the poverty level calculations to https://www.cnbc.com/2020/07/14/minimum-wage-workers-cannot-afford-rent-in-any-us-state.html btw)

from https://www.vox.com/future-perfect/22543868/biden-child-tax-credit-july-15-monthly-payment

quote:

But others won’t receive the benefit automatically even though they’re eligible because they haven’t filed their taxes. A big challenge for proponents of this expanded benefit is making sure people who are eligible actually receive it. Compounding the challenge is that the population in greatest danger of not getting the benefit is also the one that happens to need it most.

Such obstacles are not uncommon in our notoriously kludgey welfare system: Even a long-established benefit like the earned income tax credit (EITC) — a refundable credit for which many low-income families are eligible — has a filing process that is sufficiently complicated that about a fifth of households eligible for that benefit don’t file to receive it.

The most important recipients of the expanded CTC from an anti-poverty perspective are extremely poor recipients who have literally $0 in taxable income. These potential CTC beneficiaries receive no benefit from the EITC because it’s reserved for families with “earned income.” Without any taxes to owe, or EITC to receive, these poor households generally don’t file their taxes and won’t get the CTC automatically.

Before this year, this population was also excluded from the child tax credit, which previously had an income floor of $3,000, with anyone below that entirely excluded (and those right above that threshold receiving a reduced credit).

Some people in this population filed to receive stimulus payments, which last year were available, for the first time in American history, to people with $0 in income — meaning they’re now slated to also automatically get the expanded CTC. But others did not. IRS data suggests that at least 2.3 million children in the US fall into this category. But that’s likely an undercount. “We know that number ... excludes some children,” Kris Cox, deputy director for federal tax policy at the Center on Budget and Policy Priorities (CBPP), told me.

When biden brags about the CTC he says that 5mil children are lifted out of poverty, but almost half of them probably will not get it apparently and that's an undercount. Whoopsie. I'm sure the dems will hold him accountable for that though.

quote:

Under current law — that is, once the one-year expansion from the Biden stimulus elapses — the CTC will go back down to $2,000 per child, and stop being available to the poorest households in 2022. Parents will get the remainder of their 2021 credit when they file taxes, but monthly payments will cease in January 2022

I'm sure that people who stop getting money in January that Biden promised them will praise Biden appropriately when/if they survive to get money from a tax return in April and reward the dems in the midterms.

quote:

There are only six months until monthly payments of the credit cease, and Congress has a busy docket in the meantime. If it wants to avoid a completely preventable spike in child poverty — because that is what is in store once this expanded benefit expires — it has to act quickly to extend the credit.

And I'm sure they'll handle this differently than the eviction moratorium; like all those dem freaks with a kink for austerity will probably get on board with fixing this soon, right?

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The Something Awful Forums > Discussion > C-SPAM > Midterm Bloodbath Prognostication Zone