Since the 80's there has been one gimmick after another to boost the economy. The wives have had to go to work when wages started to drop, then they pushed credit cards, then in the late 80's they pushed home equity loans after they took away the deduction interest of a car loan, credit cards and all interest except for homes, also taxes were lowered several times in the 80's and the 2000's, tax laws on homes sales were changed in the last 90's. It used to be that everyone paid taxes on all the profits of a home sale unless we invested all the money into another home. Think there might have been a partial exemption if you were over 65. Now a single person can make $250,000 profit and a couple $500,000 profit before paying any federal income taxes on that home sale. You can do this once every 5 years I believe.
When I was young the top rate of income taxes was 91% but few people paid it because everyone made decent wages and had enough to live on. If you were layed off you got your job back when things picked up. I know for 2-3 months the first of the year my husband worked only 2-3 days a week. He always got his job back when things got busy again. Now the top tax rate is 35% and most wages, and taxes keep dropping. A lot of people no longer have the health benefits and pensions for the family like we had. Why can't we more accomodating to the young helping them with better wages or helping them with raising their children by paying more taxes so they can get benefits to be able to afford children, or why don't we babysit while they work. Why aren't we willing to sacrifice for the young children like our parents sacrificed for us. Were we too spoiled? Why do we always want more?
You speak of gimmicks. Yes, absolutely so. And that's all this is! All the gimmicks did was raise prices. That's all this will do too. Poeple had to spend everything they had to get a house. Now, with their higher pay bigger loans, they still have to spend everything they have for a house. They don't come out better; the prices just go up.
Also, this $500 is for kids at birth, not post-high school people coming into the work force! I would venture to guess the idea is that with interest, it will amount to something later in life -- and justify eliminating Social Security! In other words, they will not be ahead for this. Besides, if everyone gets this money, then prices go up accordingly. And that becomes the new zero.
They will NOT be ahead for this, but the federal budget sure will suffer for it, and so will I who will have to pay it. And EVERYONE'S kid gets it, not just poor kids; kids of affluent, wealthy and even billionaires get it too! Its just another bad gimmick.