Sen. Hillary Clinton Buying Votes!

Hat tip to the Drudge Report, Sen. Hillary Clinton wants to give each new born in the U.S. a gift of $5,000. There are approximately 4,000,000 babies born each year, $5,000 X 4,000,000 = $20 Billion a year, yet the U.S.’s smartest woman “…did not offer any estimate of the total cost of such a program or how she would pay for it.” Or where she’s going to get the money.

I have several questions:

How did she settle on that figure of $5,000?
That seems kind of puny compared to college costs of $100,000 in todays dollars.

Second, will the government invest the money for us or will it be invested like Social Security is invested?

Third, will the money be tax-free or will we have to pay gift taxes on the money?

Fourth, Why are the kids of the U.S. to be the only beneficiaries?
Libs are always worrying about the rest of the world. Wouldn’t that put us at a decided advantage over the poor ibn other countries who can’t afford college? After all, in Portland, Oregon we long ago said kids in smaller school districts or poorer neighborhoods have a disadvantage and should be supported by the richer districts. Portland currently sends $100 Million of our tax dollars out of the district to the disadvantaged school districts, each year.

Fifth, if she gives a student $5,000 and it is invested at 7% for 18 years, the student will have $16,900, not enough for college. How about 10%? $27,800! Suppose we are a Hedge and get 25%? $277,556! Now we are getting somewhere. Surely the smartest woman in the U.S. can show us how to get 25% annual return. Look what she did in commodities.

Sixth, Here’s my suggestion, give me $5,000 in year one and then require me to invest $25 each month in myself until I retire. Assuming a 7.5% return, I could have $1 Million on which to retire. That could be my social security. Better yet why not just let me invest my own Social Security?

Seven, Do you seriously believe the U.S. could keep their hands off the funds of 4,000,000 babies a year piling up huge savings?
Pretty soon some enterprising politician would come along with ideas like Sen. Hillary Clinton on how to spend our money.

Sen. Hillary Clinton Mover Mike

Update:

Captain’s Quarters – Clinton: Let’s Add A $20 Billion Entitlement

Philip Klein – Hillary’s Baby Bucks

Slublog – Yay! Free Money!

Political Derby.com – Hillary is attempting to buy votes…with YOUR money!

Billy Jack’s Blog

Notice, she left out two major components of this idea. The first is that before a child could access this money at age 18, he/she must serve at least a year in the military.

CRAWFISH NOTE:

Giving? The gov-ment makes no money, its collects it. From whose paycheck is this coming? Why not let people invest 25% of their Social Security payroll deductions? Oh, the gov-ment must be the Sugar Daddy, it must always be the socialistic approach. You are a dufus. Cost? Who “cares”? We only “care” when use knuckledragging voters want any little tax relief.
What kind of secular socialist vote-buying paradise is this cowardly nutcase proposing? There is no free lunch. democrats love to create dependency and grow the gov-ment for votes. How many feds and buildings and forms will this intrusion into families take?
Hey, why not simply triple the tax deduction for kids and let families decide? Why not remove the death tax, the dividend tax and lower the income tax 5%? Socialism is as socialism does. There is no free lunch.

Slackerwire –

Britain launched a similar program in January 2005, handing out vouchers worth hundreds of dollars each to parents with children born after Sept. 1, 2002.

Earlier this month, Time magazine proposed a $5,000 baby bond program.


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