Do you like money? How about practically free money? Mitt Romney has a plan for you. This plan is so bad it has the democrats oohing and ahhing. This is a little bit of the guaranteed basic income, child tax credit, and welfare all rolled into one. Via Hot Air:

The Romney plan is called the Family Security Act and would make benefits to adults with children both more generous and more easily available than they are currently. Right now there are various obstacles to getting some sugar from Uncle Sam if you’re a parent. For starters, you only qualify if you have income: The current child tax credit is refundable, meaning that you get zippo if you’re not earning anything. It’s also capped at just $2,000 per year. And of course, being a tax credit, it doesn’t arrive in your bank account until tax season.

Romney wants to chuck all of that and start over. No more tax credits. From now on, families get a monthly welfare check depending upon how old their children are. Each child under age six gets $350 per month (or $4,200 per year, higher than Biden’s plan) while each child between the ages of 6 and 17 gets $250 (or $3,000 per year), with a total monthly cap of $1,250 (i.e. $15,000 annually) per family. Importantly, there’s no income requirement anymore. Because it’s not a tax credit, there’s nothing to “refund.” If you have a kid and your household is below the very high income cutoff of $400,000 you get a check — even if you’re out of work.

So you can see why the left just loves it. I am sure that Mitt has done a few calculations on not only this plan, but also on his chances of being reelected as a Republican.

Many Republicans have a great deal of disdain for Utah Sen. Mitt Romney because he has supported impeaching former President Trump not once, but twice. But it would seem that the Republican senator is crushing it with at least one political segment… the Democrats. A fact that many in his party of choice point to as an indication that he should just switch sides and get it over with.

A poll conducted on Thursday by Rasmussen shows that Romney has an 84% approval rating with Democrats. That compares to a 64% disapproval rating by Republicans in Utah. His approval rating with Dems is more than double his approval with Republicans.

He has been the loyal opposition to Trump since he was elected to his current seat. He is basically a democrat with an R next to his name which gives him extra cred on the talking heads beat.

This idea is going to be great fodder for the left. And with it being Mitt’s plan it has “bipartisanship” built in. This may give it a better than average chance of passing through the senate. I am not sure that Manchin will be able to find a good argument against it in a state that was just ravaged by Joe’s pen.

Now, I am not an economist, but I have stayed at a hotel recently, so here is where I am on this. The standard arguments on big shiny new plans will apply, like deficit spending and government growth. One of the rarely talked about points though is what this does to money that is already out there. Pumping more dollars into an economy already flooded with government spending decreases the value of everything that the savers have managed to put away.

Another issue is incentive. If a household is able to make it on what this program provides, why work? Or why work as much? Labor has a value, that equates to dollars, unless the government steps in and screws up the market. This will be a huge screw to the market.