Family Research Council

Family Economics

The family is the great generator, and the intact family the greatest generator, of human capital (knowledge, attitudes, skills and habits of the individual), and of much financial savings and capital as well. The vast majority of small businesses (out of which eventually grow the large businesses of the nation) begin as family businesses, started on the savings of family and relatives, and on the human capital formed by parental investment in education of children.

The principle of fairness applies to the tax treatment of the family: it should get the same deductions as business does in the tax code for similar investments in human capital. Further, per-child tax breaks are important in encouraging the birth of children not only for the solvency of Social Security and Medicare but also to ensure the well formed workforce needed by modern economies. FRC also believes that the two-worker parent family should not be favored (as it presently is) over the family with one parent at home raising the children, nor that the public school parent should be fiscally favored over the private school parent or the home school parent, especially as these two deliver superior outcomes.

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