Hilary Clinton wants to give every baby born in America a $5,000 dollar account that can start growing and earning interest so that by the time they turn 18 they’ll have money to go to college.
Isn’t that nice, have a baby and boom the government owes your child five thousand bucks! Where will the money come from to fund this new entitlement program? Where do you think…the taxpayers of course.
Hilary hasn’t explained exactly where the money would come from or how the program would work, but do we really need her to? I am pretty sure how this income redistribution plan will work.
First we will have to repeal the Bush tax cuts to help pay for it. Next we will get to listen every election year to Democrats say vote for me and I will raise the baby bonus, vote for Republicans and they will try to take your baby bonus away! It already happens with Social Security.
So what happens when the program ends up in financial crisis? Well that is easy. Democrats will suggest that the baby bonus get phased out for people in upper income brackets. In other words, stiff the high achievers.
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