8 reasons to pass Romney’s Family Security Act, a thread (too many citations to include. Just see my book: https://www.amazon.com/dp/3030371204/ref=cm_sw_r_cp_api_glt_fabc_96JWRX24HBEQT88XMCJM) @MichaelALewis10 @KarlWiderquist @scottsantens 1/9

Modern welfare policy is built on the assumption that generous benefits = dependence. The opposite is true. When states tighten income and asset limits, recipients are discouraged from working. Would you work if every dollar you earned was taxed at 100%? 2/9

It would significantly cut child poverty, which costs $1 trillion/year in health care, foster care, lost productivity, tax contributions, etc. Even if you think a few thousand per year would make parents lazy, are you willing to punish their children and our future economy? 3/9

Currently, families have to spend down their savings to qualify for #TANF, with limits as low at $1000 in some states. Yet, we know that financial assets are one of the most important vehicles for intergenerational mobility. 4/9

Having the payments dispersed universally by the SSA is smart. SS has an administrative cost of 1%, while TANF’s is 11% because it requires an army of bureaucrats in every county across the country determining eligibility upon initial application then regularly thereafter. 5/9

Worried that people might be encouraged to have more kids? Don’t be. American fertility is declining, which means there won’t be enough workers around to contribute to SS when YOU retire. 6/9

Fellow poverty advocates, think replacing #TANF would leave families worse off? Average monthly TANF is $492 for a family of 3 and reaches less than 25% of poor families. Under Romney’s plan, monthly benefits would be $500-$700 (w/ 2 kids) and would reach EVERY family. 7/9

It’s budget neutral. We can support every child w/o raising taxes or national debt by replacing TANF and several tax credits. There is debate re: which credits to cut. Might I suggest the mortgage deduction which costs >$70 billion/year and actually reduces ownership? 8/9

Fellow #ubi advocates, worried that this plan isn’t universal enough? Agreed. But don’t let perfection be the enemy of the good. This may be one of the best, bipartisan proposals since the 1960s. This is the policy opportunity we’ve been waiting for. 9/9