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re: Booker bill would create federally funded savings account
Posted on 10/23/18 at 9:50 am to Jbird
Posted on 10/23/18 at 9:50 am to Jbird
quote:
The accounts would be administered by the Treasury Department and start with a $1,000 principal balance granted by the federal government. 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.
quote:
he 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.
That my friends is redistribution of wealth. Lets give every poor kid in the country 35K at 18 years old. What could go wrong?
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