Imagine a world where every baby received a trust fund at birth. It might sound like a fairy tale, but being born into money—or at least into a $500 savings account—could soon become reality for all children born in the United States. Lawmakers are considering a bill that would give each newborn just that, with the goal of promoting savings that would later be used for education, a first home, or retirement. Here's what you should know about the ASPIRE ("America Saving for Personal Investment, Retirement, and Education") Act:
How would this program work?
The ASPIRE Act would give each child born in the United States a $500 savings account. Recipients could then use that money once they were older to pay for education, a first home, or retirement. Low-income children would receive additional funding, and all participants could add to their accounts over time.
Would it really help people save more money? Five hundred dollars isn't much.
LINK HERE
This country seems intent on hitting new lows each day. $500 for a newborn? Great. Gives new meaning to the term Nanny State.
ReplyDeleteThe country is bankrupt, morally corrupt and seemingly destined to become a has been but hey, I'm sure that $500 is going to go a long way towards education or retirement for Junior.
the nations under the british crown already have this, it's no big deal.
ReplyDeletethe money slowly enlarges over time with interest and is kept in a trust fund throughout the citizen's life to be used in the event of bankruptsy, other dead-end financial woes. ASPIRE seems to be doing a bit of a alternate thing in letting citizens use this money on education, home, retirement, etc. and making it publicly known that this fund exists.
8:22 Its one thing to give money when you have it, but when your country is BANKRUPT? Interest? Its 0%. Trust fund? The government will yank it out when the rest of the senior citizens need it since we will all be starving to death!
ReplyDeleteIt is another scam to funnel money to Wall Street. The BS about helping children is a smokescreen. Think about it. This money will be required to be kept in an account for at least 18 years and there will be a steady stream of new accounts being formed as children are born. This is a Wall Street designed program. Since this is the United States of Wall Street, I'm certain that it will eventually be implemented.
ReplyDelete500 dollars is just so yesterday, hey come down under and our very generous govt wil pay you three thousand dollars for popping out a bundle of crap and cry, no questions asked,no obligations on what to spend the money on,we call it the plasma screen bonus. Smart govt we have here, most of the money ends up in China.
ReplyDeleteSince we as a Nation can print money AT WILL via the FED, why don't they make it a cool million bucks.
ReplyDeleteSeems like this was done before, years ago. I vaguely remember it was $100.
ReplyDelete