This Should Really Get More Attention
By Pejman Yousefzadeh Posted in Democrats — Comments (6) / Email this page » / Leave a comment »
Hillary Clinton abandons a bad idea:
Democratic presidential candidate Hillary Rodham Clinton proposed tax cuts of up to $1,000 a year on Tuesday to encourage millions of working-age families to open personal 401(k) retirement accounts. The New York senator said the program would be paid for through higher estate taxes.
At the same time, Clinton said she has given up another idea for a savings incentive -- giving every baby born in the United States a $5,000 account to pay for college or a first home.
The baby bonds idea was ditched only a matter of days after it was made and after it was widely ridiculed for its inherent vagueness and for the fiscal irresponsibility it promoted. Usually, when this kind of thing happens to Presidential candidates, they get derided in the national media. I shall wait to see if that happens to Hillary Clinton, whose campaign allowed its famous self-discipline to give way to the promotion of a genuinely bizarre public policy proposal with no justification whatsoever and barely even a half-hearted attempt to defend it against the rain of justified criticisms that came out in response to the plan.
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This Should Really Get More Attention 6 Comments (0 topical, 6 editorial, 0 hidden) Post a comment »
I think the $5,000 baby bond was never meant to be legislation. It was to show that Hillary cares about families, babies, mothers, and the financial stress caused by having a child. It reaches out to suburban swing voters with an "I understand and I care" attitude without the need to actually implement the idea.
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And here I was thinking Hillary cared.
You've shattered yet another memory for me, like the tooth fair, the easter bunny, Snipes...just to mention a few.
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Proud member of the Barry Goldwater wing of the party !
about it. She knew it was a wacko idea. Run it out now. See if it makes it around the track. If it does, figure out how to push it for the campaign. If it doesn't, kill it quick, but it will still be there in memory to conjure up the vision of the "caring" Hillary. Nobody ever remembers the cost, or why it was killed.
Calling an illegal alien an "undocumented immigrant" is like calling a drug dealer an "unlicensed pharmacist."
I contribute to the Shire Network News podcast, and my segment this week will be about this very issue. The next episode should be up later today. Fortunately, the idea of vote buying is still considered illegal by most Americans.
other people before me, this idea is actually an advertisement for the Personal Security Accounts proposed by President Bush for Social Security. After all, if it's a good idea for people to do this, PSAs would be a good idea, too. The "funding" mechanism is the primary thing wrong with Hillary's scheme.
If $1,000 tax-free savings deposits were facilitated by using or returning $1,000 of the annual Social Security tax burden, this wouldn't be such a bad idea, just too little of a good thing. Otherwise, the plan already exists without additonal taxes. It's called the "IRA."
We've traded our National Sovereignty for cheap roofing and yardwork.