One of the most popular items in the tax code is the child tax credit. It’s popular because it recognizes a need that has social importance (raising children) and it addresses the need in a way that is non-intrusive.
All you have to do to get a $1,000 reduction in your income taxes is have a child. The federal government doesn’t tell you what to do with your child or how to spend the money. Wisely, the tax writing committees of the Congress have decided that you know more about how to parent your child than they do.
Why can’t we have something that simple and helpful for health care? We could. If we took all existing health insurance subsidies (including subsidies for employer coverage) and replaced them with a universal tax credit, I believe the amount would be close to $2,500 per adult and $8,000 for a family of…
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