Coming Soon: $500 for Every Newborn? - Yahoo! Finance (http://finance.yahoo.com/news/Coming-Soon-500-for-Every-usnews-3217986354.html?x=0&.v=1)
Dye Tied
10-07-2009, 05:07 PM
I hope it's retroactive because I was a newborn once!
Sonsie
10-07-2009, 07:41 PM
The ASPIRE Act would give each child born in the United States a $500 savings account. Recipients could then use that money once they were older to pay for education, a first home, or retirement. Low-income children would receive additional funding, and all participants could add to their accounts over time.
Who is paying for this? Taxpayers. Who are going to be the prime recipients? Who is gonna get EXTRA money? Wealth redistribution again.
Over the first decade of its life, the program would cost around $37.5 billion, and would start at around $3.25 billion per year. Cramer argues that because the money would be invested through the savings account, it would help spur economic growth. Lawmakers sponsoring the bill have said they would pay for it by making other cuts, but the bill doesn't specify what those cuts would be.
Criminal. These guys should be hung by the neck until dead and their bodies left for the crows as a lesson to others.
libertytyranny
10-07-2009, 07:45 PM
If you cant afford a child dont have one. Noone should need to give you money. makes me sick.