Posted on 04/16/2018 7:46:37 AM PDT by DIRTYSECRET
My idea was to award every newborn with a $1k deposit in the S & P 500-no withdrawals until age 59. The Wall Street Journal(via Real Clear Politics) has a better one. A $5k low interest loan payable in 50 years. Invest in worldwide index funds. Limited withdrawals only for college. It's called skin in the game. Even Chuckie Shumer is mentioned positively.
If that’s the answer, I’m not sure I want to know what the question was..
You want me to contribute to giving someone else's kid a kilobuck?
Why don't their parents do that instead?
$1K or $5K to have a baby? Let’s see, that should cover the first few months of having a baby. Then you’re out of pocket. .
You do know this is a conservative forum, right?
The Bernie Sanders symposium is 3 doors down on the left..
Just tack the cost to the hundreds of thousands of dollars of debt you’ve saddled them with. Brilliant!
That idea is not new. And just imagine, with about 4 million babies born each year it would only cost $4 billion a year, a pittance compared to the current Federal budget of $4 trillion.
Still, the entire notion is extremely socialist. That’s why I’m opposed.
Parents could do it. There could be a tax incentive to do it. But free money, just because you were born? Never.
Seems like “free money at birth” (on top of whatever free money is already available to many) would just encourage more “anchor babies”, or those who tend to have children for the purpose of milking the freebies in the system.
You folks don’t get it. The WSJ version is a LOAN. The article alludes to welfare costs. Poor folk don’t invest. Parents? They won’t do it if they’re not doing it now. This would go a long way towards eliminating welfare and just not “as we know it”. Bernie wouldn’t support it and you all know it.
This wold ultimately morph into a mechanism for financing the federal debt.
Anchor babies? As if you think it’s impossible to outlaw their eligibility. Aim lower my skeptic friends.
Since you didn’t post an excerpt, link, or details of the article, maybe you should go easy on those of us, who didn’t “get it”.
Plus another 20 billion to cover administration, kickbacks, and the building of a website by one of Michelle Obama's college friends. :)
Couples that have been married for 10 years should get it for free provided it’s going for that 3rd kid. Another long term problem solved. American born only.
The problem is that 1K deposited now, will still be worth about $1K in 50 years.
unless you were really lucky and put it into stocks and bonds that beat the annual inflation rate, AND made a lot of money.
Like all the politicians seem to be able to do.
Sorry. I’m not tech savvy. The article is by David Smick in the WSJ. It can be found on Real Clear Politics. As the welfare state hopefully comes down this would be a good alternative as long as big government goes down with it.
Read the article. Stocks and bonds. Not a mattress that will be worth $1k. World-wide index funds. The money will go somewhere to places where there is less chance of a war or famine. South America is poised to grow exponentially. The money won’t follow until places like Brazil grow up. Lots of room for Europeans displaced by Muslim immigration. Over 50 years a lot can happen. At statehood Hawaii was REPUBLICAN and Alaska was Democrat.
Here is a link. America needs Federal "Baby Bonds"
Here is an excerpt:
"...Previous efforts at reform have been halted by demagoguery, but a bipartisan plan that also addresses the U.S. economy’s means of wealth distribution has a chance of success. Call it the Escape From Poverty Plan..."
I am not surprised by the blowback from conservatives, and rightly so. That bolded and underlined text in the excerpt is why. I am not for this for a variety of reasons, but the transparent one there is one that is enough for me to not consider it.
I posted a link below at #19. As I said, I don’t think it is viable from any standpoint except to redistribute money, as my excerpt states.
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