- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Winter Olympics
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Booker bill would create federally funded savings account
Posted on 10/22/18 at 4:59 pm to Vols&Shaft83
Posted on 10/22/18 at 4:59 pm to Vols&Shaft83
4 million kids born a year in the US.
That’s $4 billion a year, every year.
10 years, that’s $40 billion just in start ups.
If even half got $2k a year, that’s another $40 billion over ten years and paired with the $20 billion for that half’s start up cost, that is already $100 billion over 10 years.
That doesn’t even take into consideration ancillary expenses. That’s just the hard numbers.
That’s $4 billion a year, every year.
10 years, that’s $40 billion just in start ups.
If even half got $2k a year, that’s another $40 billion over ten years and paired with the $20 billion for that half’s start up cost, that is already $100 billion over 10 years.
That doesn’t even take into consideration ancillary expenses. That’s just the hard numbers.
0
Posted on 10/22/18 at 5:46 pm to Jbird
I actually like the idea, just not the funding. Can’t just take people’s inheritance and disperse to the poor.
Posted on 10/22/18 at 5:51 pm to The Levee
quote:
I actually like the idea, just not the funding. Can’t just take people’s inheritance and disperse to the poor.
No matter what the source of funding is it will be a giant wealth redistribution program.
Posted on 10/22/18 at 6:09 pm to Jbird
So because my parents got married at 18, worked their arse off to be successful and then made me do the same by paying my own way through college...some dude whose dad left him gets $50k in a bank account? That's definitely the way to encourage families to stick together...
Morons.
Morons.
Posted on 10/22/18 at 6:11 pm to Jbird
Another 'Social Security Lockbox'. 
Chavez wanna be. 
Chavez wanna be. 
Posted on 10/22/18 at 6:18 pm to Zanzibaw
quote:
So a Robin Hood tax..
Almost. Remember Robin Hood didn't steal from the rich to give to the poor, he took tax collections from the government and have back to the tax payers.
Posted on 10/22/18 at 6:19 pm to Jbird
quote:
The program would cost roughly $60 billion if implemented in 2019, a Booker aide told the Hill, and would be funded by increasing the capital gains tax rate by 4.2 points, increasing the estate tax to its 2009 level and raising taxes on multi-million-dollar inheritances
Posted on 10/22/18 at 6:48 pm to Tchefuncte Tiger
quote:
The accounts would be administered by the Treasury Department...
IOW, another “trust fund” for Congress to raid for operating expenses.
Hard pass.
Posted on 10/22/18 at 7:09 pm to Jbird
frick him
Posted on 10/22/18 at 7:31 pm to Jbird
FREE MONEY!!!!!!!!!!!
Why didn't our side think of this???
FREE MONEY!!!!!!
FREE MONEY!!!!!!
FREE MONEY!!!!!!
FREE MONEY!!!!!!
Why didn't our side think of this???
FREE MONEY!!!!!!
FREE MONEY!!!!!!
FREE MONEY!!!!!!
FREE MONEY!!!!!!
Posted on 10/22/18 at 7:34 pm to Balloon Huffer
quote:
yes, lets give all 18 year old kids approximately $30,000 to spend as they would like...
What a wise investment.................................
We already do this. They are called student loans
Posted on 10/22/18 at 7:50 pm to Jbird
If the whole ~$30k/child were earmarked exclusively for education, such a program would disproportionately devastate lower income households' ability to afford higher education.
Just as with colleges and universities as a whole with student loans, when funds for school are that easy to come by and colleges know it, they have no reason to not milk their customer base for every penny. Community colleges and lower-tier 4-year universities would finally be able to join the gauging party.
Just as with colleges and universities as a whole with student loans, when funds for school are that easy to come by and colleges know it, they have no reason to not milk their customer base for every penny. Community colleges and lower-tier 4-year universities would finally be able to join the gauging party.
Posted on 10/22/18 at 7:53 pm to Scoop
quote:
Backdoor reparations.
ISWYDT, hahahaha
Posted on 10/23/18 at 9:18 am to the808bass
quote:
IOW, another “trust fund” for Congress to raid for operating expenses.
We all see how well this worked out for Social Security.
Posted on 10/23/18 at 9:20 am to Jbird
Go ahead and "save" your money in a government account, and see how long it takes for that to turn into a) an IOU from your Congress, and then b) a "pooled" account with no individual balances or accountability.
Anything coming from the left has Marxism as its foundation. Having everybody throw money into government accounts is the beginning of a massive redistribution of wealth scheme.
Anything coming from the left has Marxism as its foundation. Having everybody throw money into government accounts is the beginning of a massive redistribution of wealth scheme.
This post was edited on 10/23/18 at 9:23 am
Posted on 10/23/18 at 9:22 am to Jbird
quote:
human and financial capital investments that [change] life trajectories
Translation: Donations to the Democratic Party. Funded by YOU the taxpayer.
Posted on 10/23/18 at 9:23 am to Jbird
Maybe Booker can then take some of his savings and use it to get some psychiatirc help so he'll stop sexually abusing people.
Posted on 10/23/18 at 9:44 am to Tantal
quote:
If this passes, I'm buying stock in wheel companies, gold chain manufacturers, and Newports. In 20 years I'll be like Tron.
Be careful. 20 years ago you'd have listed curb feelers and malt liquor. They're not doing so well now.
Posted on 10/23/18 at 9:45 am to Jbird
quote:
The government would then deposit up to $2,000 a year into each child’s account depending on total family income until the recipient turns 18.
Found it.
Posted on 10/23/18 at 9:48 am to TheHarahanian
quote:You forgot the part of guaranteed interest @ 5% and a withdrawal tax of 10% (early withdrawal 20%)
Go ahead and "save" your money in a government account, and see how long it takes for that to turn into a) an IOU from your Congress, and then b) a "pooled" account with no individual balances or accountability.
Anything coming from the left has Marxism as its foundation. Having everybody throw money into government accounts is the beginning of a massive redistribution of wealth scheme.
Page 2 of 3
Popular
Back to top
Follow TigerDroppings for LSU Football News