Sometimes economists suggest things that make sense in theory, but don't work in the real world. Take the child tax credit, which has been getting a lot of attention lately as lawmakers argue over how to expand its benefits in the pandemic-relief bill.
Congress is poised to offer families some of their credit payments in periodic advance checks instead of making them wait for their once-a-year tax refunds. The idea is to ease Covid-related economic pain and give the economy a boost. The reality? It could easily backfire.