Democrats propose plan to make federal
government give EVERY American born after
2005 a $1,000 savings account - and use
higher estate taxes to keep adding funds
until they are 18
Daily Mail (UK),
by
Elizabeth Elkind
Original Article
Posted By: Imright,
2/16/2023 5:05:30 PM
Congressional Democrats rolled out a spending proposal aimed at closing the racial wealth gap on Wednesday, which would give at least $1,000 to every American born after 2005.
Sen. Cory Booker (D-NJ) and Rep. Ayanna Pressley (D-MA) introduced the American Opportunity Accounts Act, which would federalize the use of 'baby bonds' for the country's youth to help fight wealth inequality.
The program would be funded by raising estate and inheritance taxes. It would result in a major redistribution of wealth to middle and lower-income Americans.
The lawmakers estimate that children in families on the lowest income levels would have roughly $46,000 by the time they begin college,
Reply 1 - Posted by:
msjena 2/16/2023 5:09:29 PM (No. 1404611)
Sounds inflationary to me. Hopefully DOA in the House.
14 people like this.
Reply 2 - Posted by:
Encore 2/16/2023 5:18:17 PM (No. 1404618)
Yeah…to be surrendered immediately upon request of, guess who? Indian givers.
Hmm, was that racist?
7 people like this.
Reply 3 - Posted by:
DVC 2/16/2023 5:20:12 PM (No. 1404619)
NO. And the overwhelming majority will blow the money as soon as they get their hands on it for a vacation or a car or drugs. Count on it.
19 people like this.
Reply 4 - Posted by:
Ida Lou Pino 2/16/2023 5:23:57 PM (No. 1404624)
Why only $1,000? It should be $1,000,000!
Confiscate every penny from the rich - - and give it to demonrat voters. That's the real American way!
6 people like this.
Reply 5 - Posted by:
smokincol 2/16/2023 5:26:08 PM (No. 1404629)
"Democrats propose plan to make federal government give EVERY American born after 2005 a $1,000 savings account .. " - and then what?? they go out and buy a Corvette?
this is about as stupid as saying that diapers is the best communicator in the White House
7 people like this.
Reply 6 - Posted by:
Knotwyrkin 2/16/2023 5:26:40 PM (No. 1404630)
Yet another welfare scheme.
14 people like this.
Reply 7 - Posted by:
sunshinehorses 2/16/2023 5:29:13 PM (No. 1404633)
It will work just like Social Security did. The government will "borrow" from the savings fund and forget to pay it back.
8 people like this.
Reply 8 - Posted by:
Pearson365 2/16/2023 5:43:07 PM (No. 1404652)
Purpose of proposal is to have Republicans reject this vote buyer, unaffordable scam. Dems could care less about any actual benefits. They just want Kevin McCarthy and Repub House members to reject the proposal in order to cry and scream that “GOP hates chlldren”.
11 people like this.
Reply 9 - Posted by:
MindMadeUp 2/16/2023 5:55:13 PM (No. 1404658)
And by "American" do they mean everyone born somewhere in North or South America who has crept or been carried illegally across our leaky border? Of course they do.
10 people like this.
Reply 10 - Posted by:
planetgeo 2/16/2023 6:01:43 PM (No. 1404659)
This is their NEXT election scam, trying to insure that every teenager now votes D in they're first election. It worked last time with the illegal college debt give away that got stopped by the courts AFTER the election. But hey, it worked. Same deal here.
They never miss a trick with their fake giveaways.
7 people like this.
Reply 11 - Posted by:
skacmar 2/16/2023 6:06:21 PM (No. 1404661)
Sounds like not every child would get the baby bond. Only special disadvantaged children would. While that could translate to most kids, it is discriminatory. Either everyone gets it or nobody gets it. Besides, it is the kids family's job to set the child up morally and financially for adulthood. Not the governments. Especially at the expense of others.
3 people like this.
Reply 12 - Posted by:
caljeepgirl 2/16/2023 6:28:27 PM (No. 1404674)
Isn't that something their parents are supposed to do? You know, like an allowance, for chores completed!?!?! Give me a break!!!!!
7 people like this.
Reply 13 - Posted by:
navybrat 2/16/2023 7:01:31 PM (No. 1404701)
People do not value something that is just given to them.
4 people like this.
Reply 14 - Posted by:
Philipsonh 2/16/2023 7:18:35 PM (No. 1404715)
The Democrats can go straight to H*** with their never ending schemes to spend/give money away. Lawmakers "estimate" is a useless phrase as it means lawmakers GUESS and the 'plan' would be directly racist to boot.
2 people like this.
Reply 15 - Posted by:
Venturer 2/16/2023 7:22:06 PM (No. 1404716)
These people have lost their minds.
4 people like this.
Reply 16 - Posted by:
raspberry 2/16/2023 7:27:08 PM (No. 1404718)
This is what the War on Poverty has done, hasn't it?
We spent since 1965 25 trillion dollars inflation adjusted.
2 people like this.
Reply 17 - Posted by:
danu 2/16/2023 8:24:38 PM (No. 1404746)
one could get the sense that the bidiots want to impoverish the boomers/ retirees
for their vote-buying schemes.
1 person likes this.
Reply 18 - Posted by:
czechlist 2/16/2023 8:52:46 PM (No. 1404778)
Why 2005? Why not earlier?
2023-2005=18. Oh, this years, and future years, purchased dim votes
2 people like this.
Here's a thought you two thieves. How about you stop taxing the public to death and take your grubby fingers out of our wallets?
3 people like this.
Reply 20 - Posted by:
Heil Liberals 2/16/2023 10:39:46 PM (No. 1404816)
Well, it isn't whiskey or cocaine. Democrats cannot help bribing people. They are crooks with other people's money.
1 person likes this.
Reply 21 - Posted by:
Safari Man 2/16/2023 11:24:38 PM (No. 1404826)
… but only if you show proof of voting for dimocrats.
1 person likes this.
Reply 22 - Posted by:
EQKimball 2/17/2023 12:05:23 AM (No. 1404833)
Apparently even the dead must pay their “fair share.”
1 person likes this.
Reply 23 - Posted by:
DiegoDude 2/17/2023 4:51:49 AM (No. 1404913)
Cradle to grave socialism. This money is going to come from who? Oh, wait. Those of us who are working, tax paying citizens. Checking the labor participation rates, there aren't many of us left.
1 person likes this.
Reply 24 - Posted by:
mifla 2/17/2023 5:21:00 AM (No. 1404924)
I know that it is wrong to cheat on my taxes, but this is getting ridiculous.
Tell these clueless politicians to go look up the meaning of the word inflation.
1 person likes this.
Reply 25 - Posted by:
JackBurton 2/17/2023 8:12:33 AM (No. 1405039)
Reminds me of that line from the Incredibles. When everyone is special, no one will be.
This is an attempt to destroy the motivation for work and thrift.
No
0 people like this.
Reply 26 - Posted by:
hoosierblue 2/17/2023 8:35:13 AM (No. 1405053)
Knock off this racial crapola and quit trying to steal all of the taxpayer money.
0 people like this.
Reply 27 - Posted by:
DougTN 2/17/2023 9:36:32 AM (No. 1405146)
My paternal grandfather was a poll worker in 1940’s WV. A couple days before election day he was given a car with a trunk load of liquor and $2 bills to “canvass” the polls. Modern Democrats have taken this crap to much more expensive level. And have figured out how to force the taxpayer's and their descents can pay for it. Taking from the productive and responsible and giving it to the unproductive and irresponsible will have a catastrophic end.
0 people like this.
Reply 28 - Posted by:
MickTurn 2/17/2023 9:57:20 AM (No. 1405186)
How about we fun this stupid idea with Democrap Politicians salaries?
Recipients need to have their name drawn out of a hat after 100% of citizens names are added.
0 people like this.
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