Republican lawmaker withdraws support of child savings bill ($500 account for every baby born in CA)

AP on Bakersfield Californian ^ | 3/3/07 | AP

[NormsRevenge]

I guess the surgery to remove the boot from his butt was successful.

[steveo]

He is tired of people laughing at him.

[NormsRevenge]

I heard Tom McClintock last night saying that he had pulled his support for it.. I bet he got hammered email and call wise..

[JennysCool]

Ha! Ha!

This is the problem with legislatures. All the laws were basically written long, long ago. They mainly exist now to come up with stupid ideas like this one.

[Dog Gone]

Sen. Bob Dutton, R-Rancho Cucamonga, who had promoted the measure as a good investment,

What a maroon.

[flashbunny]

"he defended the savings account idea as a way for Republicans to help individuals become self-sufficient"

By giving them free money from other taxpayers?

[pissant]

A Republican suggested this crap??? What more can the GOP do to flip off the base?

[KarlInOhio]

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.

If families just put in $50 a month to zero state initial contribution it would grow to about $16,300 over 18 years. What does that $17,500 have to do with anything other than making it look like the state's $500 "investment" is going to grow to a huge number for each child (with a little handwaving to distract you from the $600/year the parents would have to save to get to that final amount)?

[KarlInOhio]

By giving them free money from other taxpayers?

Nothing says "Rugged Individualism" like a big government check.

[alice_in_bubbaland]

I was going to post a WTF. What was he thinking in the first place? Is whatever Arnold has, contagious?

[SIDENET]

No wonder the GOP is in trouble.

[SIDENET]

Is whatever Arnold has, contagious?

Creeping Socialism? I sure hope it's not contagious.

[alice_in_bubbaland]

Sounds like New Jersey.

Let's give the taxpayers a tiny bit of their money back, only to take 10x more next year, because we're in the hole for 4 billion! (Running a State...according to Jon S. Corslime, D NJ)

[NormsRevenge]

As I read this, he thinks it would be doable in more prosperous times,, it didn't take him long to rescind his support with the acknowledgment of the state continuing to run in deficit mode.


At least he didn't propose to float a bond to cover it like a certain someone else has for everything else, and will propose more. ;-)

[alice_in_bubbaland]

It's an election year. The entire State Assembly is up for reelection this year. Just in time for the dopey voter to receive their rebate checks in October. He raised the sales tax to reduce the deficit, only to give it away and double the debt. A real Wall St. whiz!

[bubbacluck]

I believe the election will be next year, 2008.

[alice_in_bubbaland]

I stand corrected. Still, it's the dopey voters and Gov. that tick me off.

[bubbacluck]

Agreed. I can only try to not be a dopey voter myself.

[alice_in_bubbaland]

Not if you stick to your principles and remember all handouts come with a price.

[bubbacluck]

I was talking with my wife a few minutes ago and we both thought it would be a good idea to raise the voting age back to 21, with the exception that if you're active military you can vote if you are under 21. Would that take an amendment appeal?