I understand what you are saying, but if this $20 billion dollars a year was to go elsewhere do you honestly think that our government would use this 20 billion in a more effective and efficient way. I do not believe that they would use this money in a more beneficial way, there are plenty of examples. This 20 billion would be a gesture to show americans that the government is there for the people, and not just a pawn to big business and the wealthy.
[quote=“camarojoe,post:20,topic:36110"”]
$277.78 a year x 18 years = $5000.00
Let’s break it down more.
$277.78 a year / 52 weeks = $5.31 a week
Give up the Starbucks once a week and put it in a savings account for a kids education fund.
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One HUGE difference, compounding interest. 5k up front sitting in an interest bearing account for 18 years results in much more money than putting away 5.31 a week for 18 years.
[quote=“JayS,post:22,topic:36110"”]
One HUGE difference, compounding interest. 5k up front sitting in an interest bearing account for 18 years results in much more money than putting away 5.31 a week for 18 years.
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True, but using it for an example of what a person can do to save for the future. Hell, my wife and I have $ taken out of our checks and put into an account that we don’t touch.
Another thought on this. So NYS puts $5k aside for every child born.
What if they don’t go on to school?
What about mom and dad that have a 3 year old already and then they have their 2nd child after this program is put in place? No money for the 3 year old?
Would the kid get handed a check at their 18th birthday and say, here you go, have fun in school.
I’m all for them promoting education and making it high on the agenda, but this isn’t the solution to it. This is more of Hillary’s way of getting in good with the minority and middle class, as a hey, I’m there for you.
When savings are made by one change that is made, there is just as much or more waste on the other end.
Your kid doesn’t go to college, they don’t get the money. Simple as that. It’s an education trust, not a “congrats you survived and graduated high school” trust. More money for the kids who don’t want to work at Burger King or rely on the UAW the rest of their lives
And no, today’s 3 year old doesn’t get shit. Sorry, but with any program there has to be a “start” point. Maybe you grandfather some in but there has to be a cutoff or it blows the budget in the first year.
When a dealership starts offering free oil changes for life with a new car do you think they give that option to everyone who ever bought a car from them?
[quote=“JayS,post:24,topic:36110"”]
Your kid doesn’t go to college, they don’t get the money. Simple as that. It’s an education trust, not a “congrats you survived and graduated high school” trust. More money for the kids who don’t want to work at Burger King or rely on the UAW the rest of their lives
And no, today’s 3 year old doesn’t get shit. Sorry, but with any program there has to be a “start” point. Maybe you grandfather some in but there has to be a cutoff or it blows the budget in the first year.
When a dealership starts offering free oil changes for life with a new car do you think they give that option to everyone who ever bought a car from them?
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I’m agreeing with you on this, but you know that those questions are going to come up.
This doesn’t sound that this is strictly money to be put towards college.
…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,"
Why do I want my tax money going to an 18 year olds first home?
It doesn’t sound like a bad idea if this was reserved just for college, but you know it’ll be abused. Like everything else.
[quote=“JayS,post:17,topic:36110"”]
I can’t believe Hillary came up with something I agree with. What’s the old saying, even a blind squirrel finds a nut once and a while?
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Did you miss this part of the post?
“Earlier this month, Time magazine proposed a $5,000 baby bond program.”
Don’t give her too much credit
Yay for socialism? Wonder how long it’d take ghetto fucks to figure out how to scam the system and have even more encouragement to produce more kids they won’t take care of.
[quote=“JayS,post:17,topic:36110"”]
$5000 at 10% (if we were allowed to put this money in a decent investment account for example) compounding for 18 years = $30023.46. Even better, force parents to contribute $25 a month to be elligible for this initial 5k and it turns into $45037.54 in 18 years.
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dont forget about 2-3 percent inflation and the fact that 10% interest at 100% security for 18 years is a pretty hard thing to obtain.
If EVERYBODY gets $5000, wouldn’t this accomplish nothing except cause a step-change increase in inflation 18 years from the program’s inception?