WASHINGTON (AP) – 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.
“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 they will be able to make that downpayment on their first home,” she said.
The New York senator did not offer any estimate of the total cost of such a program or how she would pay for it. Approximately 4 million babies are born each year in the United States.
Here’s a novel idea: Lower taxes and let people keep an extra $5,000! What is the obsession with allowing the government to control every aspect of people’s lives!
Here’s another thought to people who aren’t saving: Learn how to not be dependent on the government!
Clinton said such an account program would help Americans get back to the tradition of savings that she remembers as a child, and has become harder to accomplish in the face of rising college and housing costs.
She argued that wealthy people “get to have all kinds of tax incentives to save, but most people can’t afford to do that.”
The federal government just giving away $5,000 will help American’s learn how to save money? That’s crap and she’s totally wrong.
Again, not true: “most people can’t afford to do that”. She is arguing that most people just can’t save money because they don’t have any. I would argue that most people can’t save money because they have no self-control and choose to live beyond their means. Personal responsibility! Not government responsibility!