WASHINGTON – Entrepreneurs, intellectuals and presidential candidates have in recent years touted "universal basic income," a cash stipend to everyone with no strings attached, as the answer to poverty , automation and the drudgery of work. It has never gotten off the ground in the U.S.
Instead, something similar in spirit but cheaper and more practical may be in sight. Both President Biden and Sen. Mitt Romney (R., Utah) have proposed significantly expanding the child tax credit and dropping many of its restrictions, in effect turning it into a near-universal basic income for children.
The main aim of their proposals is […]
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