Posted on 10/11/2007, 8:06:16 PM by yoe
Sen. Hillary Rodham Clinton, who last month suggested giving $5,000 "baby bonds" to every child born in America but later backed away, called yesterday for a new retirement plan that would boost individual savings with federal tax credits.
Clinton's plan would match the first $1,000 of retirement savings for families making up to $60,000 per year. The proposal would provide a 50 percent match for families making between $60,000 and $100,000.
"I believe that if you work hard and contribute to our country, you should have the opportunity to save and invest," Clinton said during the last of a four-day campaign swing through Iowa.
Clinton's plan would build off of the existing employer-based retirement savings system, where payroll deductions help encourage thrift.
People who like their existing retirement accounts could use them to receive the matching tax credits. Those who do not have an account or want a different one could apply the tax credits to a new American Retirement Account, which would allow them to save up to $5,000 per year on a tax-deferred basis. Savers would have the choice of investing through private providers or a system similar to one available to members of Congress.
Clinton said she would pay for the tax credits by continuing the estate tax, which is due to expire at the end of 2009, for estates worth more than $7 million.
A spokesman for the Republican National Committee said the plan would amount to a boondoggle. "Today's proposal by Hillary Clinton is more of the same - promises she can't possibly finance without raising taxes and growing government," said Republican spokesman Danny Diaz.
(Excerpt) Read more at newsday.com ...
--"I do solemnly swear (or affirm) that I will faithfully execute the Office of President of the United States, and will to the best of my Ability, preserve, protect and defend the Constitution of the United States."
Ms. Clinton will not protect nor defend the Constitution of the United States let alone protect and defend America.
If the unions think she will help them, they are blind…..the unions are defeating themselves by demanding ever higher wages without producing a better product and causing their employers to find cheaper laborers so the stock holders will see a little dividend on their savings……if teachers expect more money then they are going to have to start producing a better product. Under Ms. Clinton, our treasury, our Sovereignty, plainly America is all at stake. This woman has no business thinking she is presidential timber……she has produced nothing or done nothing other than to make vague promises and raise money for her coffers since she first entered the Arkansas Governor’s house and has continued in that vein clawing her way to the top spot. We are a Great Country; Mrs. Clinton is just that Ms. Clinton, an empty pant suit with a rapist husband among other traits…………..
Yeah, me too....but how about if you don't take my earnings to pay for someone ELSES' Retirement plan, you socialist b#$%h?
“The proposal would provide a 50 percent match for families making between $60,000 and $100,000.”
I’m curious. When Bush cut taxes, Clinton cried that the rich were getting tax cuts...how’s this different?
She’ll spend us into the ground, she’ll appoint EuroMarxists to the supreme court, she’ll wreck capitalism, take away our freedoms, take away our guns, and make the White House an annex of the UN.
This will not be just another swing of the political pendulum.
Hillary is a gathering apocalypse.
how is this different from private accounts for social security?
I’ll give her a week before she flip flops on this one.
Clinton’s Daily Plan.....................
Hillary now risks alienating her base . Expectant Hillary voters all over the country have been fronted $5,000.00 worth of crack .
I truly hate her. To stoop to saying anything about hard working Americans and retirement when the Chinese and other criminal enterprises have financed her retirement.
Didn’t President Bush propose that 4% of your Social Security be put into a private account so it could grow faster and have more money in your pocket at retirement?
As I recall all the Democrats hated the idea.
Now Clinton wants to do something just like what Bush wanted, but now its a great idea?
Have I missed anything?
Why not take the social security money we’re all paying, put it into an account, CD, with our name on it, and let the interest compound itself year after year. Tax free. That is if you don’t trust me Mrs. Clinton to manage my own money.
And we must make the Bush tax cuts permanent. The deficit will be gone in 3 years, we’ll be running surpluses, if we make the tax cut permanent. The Social security surplus that is spent in the general fund could be to our little CD accounts.
HOW ABOUT THIS MRS CLINTON....
GIVE ME MY SOCIAL SECURITY MONEY AND LET ME INVEST IT THE WAY I WANT!
I don’t want or need your matching funds just let me take control of my own damned money in the first place!
You care about peoples retirement, change SS from the ponzi scheme it is now, to individual 401ks that the contributor actually controls!
HOW ABOUT THIS MRS CLINTON....
GIVE ME MY SOCIAL SECURITY MONEY AND LET ME INVEST IT THE WAY I WANT!
I don’t want or need your matching funds just let me take control of my own damned money in the first place!
You care about peoples retirement, change SS from the ponzi scheme it is now, to individual 401ks that the contributor actually controls!
Ping me when her “little Red Book” comes out...
No you haven’t missed a thing. President Bush in his first SOTU address proposed that ALL American citizens should be able to have the same retirement plans (I think there are five) that all Federal Employees have.....the applause had not died down before all the talking heads, far left Kennedyites and the MSM had so muddied what the President had said, you could not recognize it. Pass on your thoughts to others; you are right on the money. Sadly the GOP in both Houses let that happen without a whimper. I wrote and wrote to no avail.
I thought we all did have that opportunity. How about just letting me keep my money and I'll do with it as I see fit?
This would remain under the control and management of the government.....
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