Clinton endorses $5,000 "baby bond"

Associated Press ^

[SoldierMedic]

WASHINGTON — Democratic presidential candidate Hillary Rodham Clinton said Friday that every child born in the United States should get a $5,000 "baby bond" from the government to help pay for future costs of college or buying a home.

Clinton, her party's front-runner in the 2008 race, made the suggestion during a forum hosted by the Congressional Black Caucus.

"I like the idea of giving every baby born in America a $5,000 account that will grow over time, so that when that young person turns 18, if they have finished high school, they will be able to access it to go to college or maybe ... make that down payment on their first home," she said.

[SoldierMedic]

According to the CDC, there were about 4,115,590 births last year. Even giving a dollar to each baby would bring a very, VERY large price tag.

[al baby]

5,000 "baby bond" from the government

From you and me

[CTSeditor]

Sorry Hillary. I pay my own way. Shouldn’t have to pay for others.

[SoldierMedic]

Her reasoning was rediculous:

Kids born with $23K national debt, why not give them $5K? Why not? How about because that gives them $28K national debt? You're just making things worse

Downpayment for home or for school How about encouraging the kids to do well in school, then getting a scholarship? A reward for good acts, not just a gift for being born.

And $5K for a downpayment on a house? I'm house hunting, and I can tell you you don't get much if you only have $5K to put down.

[gate2wire]

Imagine the bureaucracy to track this.
5 K a kid is only the beginning.

[cbkaty]

Why stop at $5K.....? Why not $10,000, $100,000, or $1,000,000? Stealing is stealing regardless of the amount...

[MNJohnnie]

So we should be taking money from you and me in taxes and give it to kids of multi billionaires?

Here an interesting idea Hilly, CUT OUR TAXES instead. Double the personal exemption for every taxpayer so it is at least close to reasonable percentage of annual income rather then the pathetic insult the personal tax exemption is now.

[digger48]

Why not just make it retroactive. Back to about .......1956.

with interest

[IrishCatholic]

Actually I am all for it. If people want this socialist as president, well heck, why not.
But the point they will probably not get is that her type of economic programs will mean that the $5,000 will buy a loaf of bread. Sort of like currency in Africa.

[VOA]

” Clinton endorses $5,000 “baby bond” “

Bubba is partly on the right track.

After learning about the magic of compound interest, my naive
suggested policy is that prospective parents should be required
by law to deposit at least $10,000 in an account with at least
an average 6%/yr. return.

So that when the kid gets out of high school, they can have a lump
of money to pay for college/tech school.

Or leave it alone to have a wad of money at retirement.

Yeah, I know it will never happen!

Oh, and make the bond surrender-able if the child should commit
more than one felony or three misdemeanors...and give the surrendered
fund into a pool to distribute to members of the child’s cohort
(same birth year) that have kept a clean record.

[hophead]

“She argued that wealthy people “get to have all kinds of tax incentives to save, but most people can’t afford to do that.”

“but most people can’t afford to do that”.....That is just a lie. Most people who don’t save money are WORKING people. They live above their means. Want and get more than they can afford. The bigger than needed home, newest cars, electronic gizmos etc.

But I wouldn’t write this idea off too soon.

Lets look at it closely. First, it sounds like the older idea to allow each worker to invest some of their own SS funds into a PRIVATE ACCOUNT for future use. This plan would allow an immediate ‘nest egg’ for use after say 40 years old. I don’t know, pick an age.
We are talking about $20,000,000,000 a year going into some type of PRIVATE SECTOR financial institutions. What if ALL financial institutions were willing and allowed by the government to take in this $5000 per child FREE OF CHARGE. No fees to the owner of the account. The banks sure should be able to protect the principal and make a small profit off of that kind of money.
$20,000,000,000 is less than 3/4 of 1 % of what the Federal government will spend this year.
Using the ‘rule of 72’, $5000 will double in 14 1/2 years at 5% return. With a 30 year investment, that $5000 will become $20,000. If parents want to add to it to some limit good.
If all financial institutions competed for all those dollars, we may get some good rates. Those deposits could be lent as home mortgages.

Lets not write this idea off too fast.

Lets hear from some financial experts here.

[pax_et_bonum]

every child born in the United States should get a $5,000 "baby bond" from the government to help pay for future costs of college or buying a home.

Even more incentive for illegals to reproduce here.

[Daffynition]

Hillary will adopt so she can cash in on her "share."

[stockstrader]

Does this mean that a single, inner-city mom with no job and 10 kids will get 10 bonds?

[gondramB]

>>Democratic presidential candidate Hillary Rodham Clinton said Friday that every child born in the United States should get a $5,000 “baby bond” from the government to help pay for future costs of college or buying a home.<<

Can you imagine the incentive to try to have your baby in the U.S. instead of Mexico?

[Holicheese]

” giving every baby born in America a $5,000 “

Does that include all the kids being born to illegal aliens?

[Lawgvr1955]

Moving Election Day to April 16th would be the best way to stop all these government give away programs. I get no relief on April 15th, you get no vote on the 16th.

It would be the end of tax and spend and probably the Democrat party.