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January 1, New Bill Would Give Some Americans $45,000
A new bill seeks to provide Americans with as much as $45,000 by the time they turn 18.
Congressional Democrats Sen. Cory Booker and Rep. Ayanna Pressley reintroduced the American Opportunity Accounts Act — also known as “baby bonds.”
“U.S. Senator Cory Booker (D-N.J.) and U.S. Representative Ayanna Pressley (D-MA) today reintroduced the American Opportunity Accounts Act, legislation that would create a federally-funded savings account for every child in order to make economic opportunity a birthright for everyone in America and help close the racial wealth gap,” Sen. Booker’s office said in a statement.
The current annual inflation rate is 6.4 percent — significantly higher than the Federal Reserve’s target rate of 2 percent.
The bill “would give every American child a fairer chance at economic mobility by creating a seed savings account of $1,000 at birth,” Rep. Pressley’s office said in a press release. “The funds would sit in an interest-bearing account that would receive additional deposits each year depending on family income. At age 18, account holders could access the funds in the account for allowable uses like buying a home or paying for educational expenses.”
According to the press release, the legislation would be “fully paid for by making common sense reforms to federal estate and inheritance taxes, including restoring the estate tax to 2009 levels.”
Under the plan, for a family of four with an income of $25,100 or less, the account would grow to $46,215 by the child’s 18th birthday. Families with higher incomes would receive less. For a family of four with an income of $56,475 or less, the account would reach an estimated $12,815 by the child’s 18th birthday.
“Americans today are having a harder time accessing homeownership, higher education, and a secure retirement than their parents did just a generation before them,” Booker said in a statement. “‘Baby Bonds’ would fix our broken tax code by providing every American child with startup capital for their life, and helping to drive down the wealth inequality that holds American families back from their full potential.”
Source: Newsweek
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Glenn LeMaster
February 22, 2023 at 7:10 pm
Same old shit. Give money to people who won’t work, by taking it from people who WILL work!
gdblake
February 22, 2023 at 7:54 pm
So basically you want to steal the inheritance money my wife and I saved and put aside as a safety net for our children to give it to someone else’s child. You already took money I worked to earn from me for years to give “child tax credits” to fund raising someone else’s children. Enough already!
Rattlerjake
February 22, 2023 at 10:57 pm
All of this BS income tax legislation is nothing but fraud that YOU and 99% of Americans VOLUNTARILY participate in. Even when given the facts that the income tax “law” doesn’t exist, less that 1% will stop participating because you’re all too chicken-schit to stand up against the federal government. YOU have ZERO reason to complain!
https://www.youtube.com/watch?v=98a5tBBDjlY&t=21s
Russo/Cohen IRS interview
https://www.youtube.com/watch?v=66ZK0p21re0
Income tax is a scam
Don
February 22, 2023 at 8:20 pm
Buying votes.
Tim
February 22, 2023 at 10:03 pm
with other people’s money
Timothy P
February 22, 2023 at 9:59 pm
bread & circuses until we run out of other people’s money. socialism usually ends in mass murder, Amerika will be no different. We have been right on schedule since the republic was destroyed in 1865
2WarAbnVet
February 22, 2023 at 7:14 pm
Free s*it for everybody! What could possibly go wrong?
Art R
February 22, 2023 at 7:17 pm
Concur with Mr. LeMaster! More welfare for the lazy!!
KENL
February 22, 2023 at 7:43 pm
How can these idiots be that stupid?
CaptSteve
February 22, 2023 at 8:56 pm
Corey Booker is sponsoring the bill. That it and of itself should tell you all you need to know about stupidity.
Dee M
February 22, 2023 at 9:25 pm
Another stupid idea from Booker.
Timothy P
February 22, 2023 at 10:02 pm
they will continue the theft, till some “real men” stand up to them and say NO. Amerika is full of cowards, scared of sissies & perverts in gov’t. (your masters) NO you are NOT free in Amerika
Mike
February 23, 2023 at 5:56 am
Taking middle class money and giving it away to those who don’t work for a damn thing.
Rob
February 23, 2023 at 7:49 am
Joe Biden is a false storefront for Obamas unconstitutional 3rd. term, the same thing Hillary was to be had Trump not cleaned her clock! The real reason that Trump was attacked daily, during his Presidency was because he set back this devious plan 4-years!
Rob
February 23, 2023 at 7:55 am
The Democrats are all criminals and what they are doing should shut them down for ever, and take the Federal Government with them!
We don’t give a POTUS a 3rd. term, so they just did it in secret! The Obama Administration is running America and it needs to stop! Obama, Ayer’s, Dorn, Soros, Clinton, Holder, Rice, Jarrett, Kerry, Biden, Harris, The Federal Government, The Justice Department, and the DNC, are all guilty of Treason!
Rob
February 23, 2023 at 8:00 am
Obama on his late night tv rounds after Trump won the election saying we can’t have a third term in America was snide remarks knowing that that was exactly what was coming! Obama is a communist, just like his mother Stanley Ann Dunham, the friend of the Ayer’s family, who put Obama through Harvard!
akashara
February 24, 2023 at 7:12 am
This is giving priority treatment based on skin color. Just like reparations, I say HELL NO!