[NormsRevenge]

Links:
Read the proposal at National Tax Limitation Committee,
The proposal would cost taxpayers about $285 million a year.

http://www.newamerica.net/programs/asset_building/california_asset_building

http://www.limittaxes.org/

[Viking2002]

Horse squeeze.

[KoRn]

I just don't know what to say.............

[NativeNewYorker]

This is brilliant. Every school in the Golden State can instantly raise its all-in tuition by $500*(1+tbill yield), pocketing the windfall...

[atomicpossum]

Steinberg said the state's $131 billion annual budget spends taxpayers' money on far more dubious programs.

Oh, well, then, go ahead. If you waste a little, you can waste even more...[/s]

Where's the money come from? Oh, yeah...from people who DO earn it.

[P-40]

About 566,000 children are expected to be born in California next year.

And how many will be the children of illegal aliens? Stupid gringos...

[NormsRevenge]

If families added $50 a month to the state's initial contribution, the savings account would grow to nearly $17,500 at 5 percent interest over 18 years. Steinberg said that would promote saving money in a culture that now is carrying record levels of debt and has the lowest savings rate since the Great Depression.

---

for which the sleazebags in Sacramento and DC have had nothing to do with, I guess, even as they have spent like drunken sailors and continue to do so.

If these idiots want to look out 'for the children', maybe they could stifle the urge to go even deeper into the socialist abyss we are already nigh consumed by..

[VOA]

CA: Bill would give all newborns in California a $500 savings account

Seeing how many California newborns are the offspring of ILLEGAL
IMMIGRANTS (aka, identity theives, crimaliens and the like)...
I got to admit that's one fine plan to economically push California
into the Pacific Ocean.

[operation clinton cleanup]

If families added $50 a month to the state's initial contribution, the savings account would grow to nearly $17,500 at 5 percent interest over 18 years. Steinberg said that would promote saving money in a culture that now is carrying record levels of debt and has the lowest savings rate since the Great Depression.

If the parents could afford to put away $50 a month, why should anyone supply them the first $500? What a stupid idea. Now if I could invest my FICA taxes... that just might work!

[no-to-illegals]

The Founding Fathers always said, When the legislators and the government officials find out they can raid the treasury and then begin to raid the treasury, the time of an end to the republic draws nearer.

[NormsRevenge]

'Nanny State' Shruggeth ping

[keats5]

Can we just give California to Mexico and try to preserve the rest of our country?

[SunTzuWu]

Recipients would repay the state's initial $500 investment once they turn 18.

There's the problem. The money will be withdrawn in most cases early in the child's life. When the child turns 18, the state will present him with a bill for $500. Then the crying will start.

[Bibman]

Wasn't that same idea in the Communist Manifesto?

[NormsRevenge]

Steinberg said the state's $131 billion annual budget spends taxpayers' money on far more dubious programs.

"There's no question these are significant dollars," Steinberg said. "But look, we spend so much more on things that don't have nearly as much significant value."

---

The best defense is to keep your mouth shut, Steinberg.

Half the state budget is suspect, imo..

[HereInTheHeartland]

This would be a good idea if it was funded by a tax break for the parents.
But the whole govt entitlement system would collapse if this would lead to the masses seeing what that $500 would grow into over 20 or 30 years.

If every person in our nation understood the concept of the time value of money, we would have a revolution.
People would see the Social Security for the sham that it is.

[pissant]

holy shit. McGovern is back.

[socialismisinsidious]

There was a federal bill that said the same thing...probably still out there. And get this: Santorum was a cosponsor. Of course there were the usual socialist on there too.

[philetus]

What happens to the money if the child dies?
Not that anyone in Calif. would kill their kid for $500.00

[CharlesWayneCT]

Mght be worth it if you lived in a neighboring state. Too much work to fly across the country just to give birth in a california hospital.