Skip to comments.YET ANOTHER HILLARY ENTITLEMENT PROGRAM.
Posted on 10/10/2007 5:38:59 AM PDT by Turret Gunner A20
Hillary says that she is tossing the idea of a $5,000 baby bonus. Golly, I wonder why that would be? Truth is, she drove that wreck into the electoral parking lot and it dented far too many fenders.
So ... when one income redistribution plan fails, just roll in another. See if this one will do better.
So ... here is Hillary Rodham's latest great idea for a new entitlement program. American Retirement Accounts. Hillary proposes that every citizen have a 401(k)-type retirement account. You can put up to $1,000 annually in the account and the government will match 100% of it (if you make less than $60,000).
How will she pay for this? Taxes!! The $20 to $25 billion cost of this entitlement program would be paid for by death taxes levied on estates of more than $7 million per couple. She says that this will help "narrow the gap" between the evil rich and the "unfortunate" people who don't have enough savings for retirement.
OK .. rather than going through a long narrative on Hillary's latest tax-and-spend plan, let me just give you some bullet points.
For every dollar families earning less than $60,000 a year put into their account the federal government will match that dollar up to $1000. This will be called a "refundable tax credit."
Refundable tax credits are a scam.
In the mid 1970s I purchased my first home. Builders were having a tough time selling homes back then, so the government instituted a $2000 tax credit for anyone purchasing a newly-built home. This meant that I could take when I filled out my tax return I would subtract whatever I owed the government by $2000, and pay the difference. If my tax liability minus $2000 equaled zero or less, then I simply didn't pay any federal income taxes, and that was the end of the story. That is not the way "refundable" tax credits work. With the modern invention of the "refundable" tax credit you once again subtract the credit from the taxes you owe the federal government. BUT ... if the tax credit is more than the taxes you owe, the government pays you the difference! In other words, the government uses its police power to seize the difference between the amount of taxes you owed and the amount of your credit from some other individual, and then hands that money over to you.
Income redistribution ... pure and simple.
Hillary's little savings scheme isn't going to cost the "government," as she say, $20 to $25 billion. Much of that money is simply seized by the government and handed over.
Now .. if Hillary gets her little entitlement plan passed, let me tell you what the future holds in store. In campaign after campaign Democrats will tell the voters "Vote for me and we'll increase the contribution limit for your American Retirement Account. Vote for that evil Republican running against me and he will take your money away!
By the way ... you don't have to work to get this handout. Of course if you don't work, you don't have income. If you don't have income you don't owe income taxes. That would mean that every single non-working person in this country would just have to find $1000 somewhere to put into this account and the government would rush forward to match it with someone else's money.
Illegal aliens? I don't know. She hasn't said yet. Maybe someone will ask this dangerous woman if she plans to set up these accounts for illegals. The answer should be interesting.
Something else interesting: Hillary says that less than half the families in the U.S. have retirement savings accounts. Another lie. Ever heard of Social Security? Now instead of creating this new entitlement program, why not just establish private accounts for each and every poor sap paying into Social Security right now? Oh wait, I forgot. The politicians need those Social Security taxes to fund their vote-buying programs. Watch this woman. All she seems to be doing lately is coming up with ideas for government entitlement programs ... and government entitlement programs are nothing more than wealth redistribution programs. Check your scorecard we have:
* Nationalized Health Care.
*The Baby Bonus
*American Retirement Accounts
Hillary's idea of government involvement in our children's education even before kindergarten!
In the meantime ... have you heard one single idea from Hillary that would increase your personal freedom? Have you heard one single idea that would decrease the intrusiveness or the power of the Imperial Federal Government? How about one idea that would promote competition in the free market?
You're right ... you haven't.
You haven't because Hillary Clinton worships the God of Government. This is a woman who feels that there are only a select few in this country who are capable of ordering and living their own lives without guidance from those smarter and more capable than they. This is a woman who believes to the depth of her soul that you can't exist without embrace of government guiding your every step and picking you up every time you stumble. To Hillary Rodham Clinton, self sufficiency is a vice. What's next? Stay tuned, it should only take a day or two to figure that out.
She keeps floating these lead balloons, she must be totally politically inept................
Most folks are too busy eating the government corn to notice the fence being built around them ... though it is funny that our government really hates the idea of fences where they will actually do some good, but I digress.
To be fully honest, I haven't heard any ideas from the republicans that would do any of the above-mentioned things either.
Hsu smoke...plain and simple
And yet Brit’s Panel last night thought that it was just fine...Dr. K. even said it was brilliant politically.
Oh ... I did forget that the media was all abuzz yesterday because my benevolent government may pass laws that would make it unnecessary for me to fill out rebate forms. Because we all know that it is way too complicated to write down your name and address and cut out a proof-of-purchase! I feel much more free already.
The money will come from the Red Chinese. Hillary can confirm they pay on time.
If you don’t mind a little lead in your money............
She must be stopped!!!!
How about one idea that would promote competition in the free market?"
Yet when President Bush proposed modest chagnes to Social Security, that would allow people to invest and control their money themselves, the libs howled like banshees.
I just can’t believe the Panel is going along with all her schemes...they thought her health care deal was fine, as well. Are they under her spell?
You don't really believe that Hillary is proposing to match those funds without strings, do you? The details aren't there yet, but the government is going to have a hand in controlling that money, I would be willing to bet on it.
Bush actually wanted to give some responsibility to the folks ... which, of course, is not allowed.
In other words, she really isn't a leader at all, is she? She is just a vapid politician trying to throw out "free money" ideas to voters within earshot?! Well, I'm shocked I must say.
I always thought she was a serious-minded, intelligent thinking centrist.
With a little tweaking, I would favor it:
American Retirement Accounts
Hillary proposes that every citizen have a 401(k)-type retirement account. OK
You can put up to
$1,000 10% of your income annually in the account OK
and the government will match
100% 50% of it (if you make less than $60,000). with an equal reduction in your social security taxes.