Posted on 10/11/2007 1:48:47 PM PDT by Kaslin
Entitlements: To encourage retirement savings, Hillary Clinton drops her baby bond idea in favor of an income-redistribution scheme to encourage retirement savings. So what was wrong with Personal Savings Accounts?
Suddenly gone is the senator's plan to give every newborn a $5,000 bond, which seemed to us a very expensive vote-buying scheme akin to George McGovern's 1972 plan to give everybody a $1,000 check. Her new idea du jour is to give people a tax cut up to $1,000 a year to encourage working-class families to open personal 401(k) savings accounts.
Clinton calls her plan "American Retirement Accounts." The government would provide "a matching refundable tax credit — dollar for dollar — for the first $1,000 of savings set aside by every married couple making up to $60,000 a year." The program would cost an estimated $20 million to $25 billion a year and would be paid for by taxing dead people.
That is, the estate tax would be frozen at projected 2009 levels, meaning that estates of more than $7 million per couple would be subject to taxation. Clinton's campaign says that for every such estate that gets taxed, at least 5,000 families would receive the matching funds.
(Excerpt) Read more at ibdeditorials.com ...
and literally trying to buy herself the presidency...free money for everybody!
I guarantee that Congress will end up robbing from Social Security in order to pay for it.
Oh irony, thy ship has arrived.
If this is such a great idea.. she is a US Senator, why does she not bring this up while a Senator...
If this is such a great idea.. she is a US Senator, why does she not bring this up while a Senator...
Because she knows it doesn’t wash
I guarantee that Congress will end up robbing from Social Security in order to pay for it....
congress cannot rob from social security....it has spent all there was in the fund and the zero amount left is firmly secured in algore’s lock box!!!
LOL
"We must stop thinking of the individual and start thinking about what is best for society.”
"It's time for a new beginning, for an end to government of the few, by the few, for the few, and to replace it with shared responsibility for shared prosperity."
"We can't just let business as usual go on, and that means something has to be taken away from some people.""
"We have to build a political consensus and that requires people to give up a little bit of their own turf in order to create this common ground."
"I certainly think the free market has failed."
"I think it's time to send a clear message to what has become the most profitable sector [oil] in the entire economy, that they are being watched."
"What I want to do is take those profits and apply them to alternative energy."
"I have a million ideas. The country can't afford them all."
Karl Marx or Frederick Engels said none of these things; Hillary Clinton said them all.
See here for more gems from Hillary:
http://www.nohillaryclinton.com/info/movies/quotes/index.htm
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