AP:
Democratic presidential candidate Hillary Rodham Clinton said Friday that every child born in the United States should get a $5,000 "baby bond" from the government to help pay for future costs of college or buying a home.
Clinton, her party's front-runner in the 2008 race, made the suggestion during a forum hosted by the Congressional Black Caucus.
Want to reply to a comment? Hint: Click "Reply" at the bottom of the comment; after being approved your comment will appear directly underneath the comment you replied to
Fuck that.
Interesting idea. Dunno how we'd pay for it or the fund would be managed, but still interesting.
The $5000 might result in a bit too high of a price tag, but the idea is good, particularly if the child or family members could add to the fund on a pre-tax basis like an IRA.
Compound interest can do a great job in paying for future things like college, a home, or retirement but most folks procrastinate getting started.
As for how to fund it bear in mind that the funds would be taxed on redemption with a zero basis so some of the investment could be justified with downstream tax revenue.
Oh, I don't know.
I like the basic idea, but once you let families access it even to add money, it starts getting into tax dodges, administrative stuff.....
Loading comments…
First Posted: 09-28-07 10:30 PM | Updated: 03-28-08 02:45 AM