Hillary Clinton is unfit to be president:
“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.
I recently purchased a new car. I like the idea of getting that car for free. I suspect the dealership will even hand over the keys to me and call it free, as long as I set up a separate transaction where I relinquish a specific number of dollars – strangely matching the value of the car – to the dealership’s possession.
Interestingly, that sounds much like the tax charade that would occur for every child “given” $5,000 from their own future earnings.
It’s possible that funding could come from the earnings of another person currently working (parents?) or who will work in the future. Regardless, I’m sure the “trust fund” aspect will remain an IOU rather than asset-based, with the present tax dollars used for some other socialist adventure. And I discount the possibility that funding would come from the child’s parents, since that would imply a measure of fiscal responsibility wrapped inside this socialism. Since that would also discourage poor people from having children if they have to fund an extra $5,000 up front, there’s no way Sen. Clinton would suggest such a thing. She’ll cave once that possibility arises and claim it’s society’s job to support all children, especially those of the poor, with the poor to be defined loosely later.
More thoughts at A Stitch in Haste, no third solution, and Catallarchy.