If you vote for her I will officially label you an idiot and possibly no longer on my list of people who have brain matter inside their cranial cavity.
YET ANOTHER HILLARY ENTITLEMENT PROGRAM.
Hillary says that she is tossing the idea of a $5,000 baby bonus. Golly, I wonder why that would be? Truth is, she drove that wreck into the electoral parking lot and it dented far too many fenders.
So … when one income redistribution plan fails, just roll in another. See if this one will do better.
So … here is Hillary Rodham’s latest great idea for a new entitlement program. American Retirement Accounts. Hillary proposes that every citizen have a 401(k)-type retirement account. You can put up to $1,000 annually in the account and the government will match 100% of it (if you make less than $60,000).
How will she pay for this? Taxes!! The $20 to $25 billion cost of this entitlement program would be paid for by death taxes levied on estates of more than $7 million per couple. She says that this will help “narrow the gap” between the evil rich and the “unfortunate” people who don’t have enough savings for retirement.
OK .. rather than going through a long narrative on Hillary’s latest tax-and-spend plan, let me just give you some bullet points.
For every dollar families earning less than $60,000 a year put into their account the federal government will match that dollar – up to $1000. This will be called a “refundable tax credit.”
Refundable tax credits are a scam.
In the mid 1970s I purchased my first home. Builders were having a tough time selling homes back then, so the government instituted a $2000 tax credit for anyone purchasing a newly-built home. This meant that I could take when I filled out my tax return I would subtract whatever I owed the government by $2000, and pay the difference. If my tax liability minus $2000 equaled zero or less, then I simply didn’t pay any federal income taxes, and that was the end of the story.
That is not the way “refundable” tax credits work. With the modern invention of the “refundable” tax credit you once again subtract the credit from the taxes you owe the federal government. BUT … if the tax credit is more than the taxes you owe, the government pays you the difference! In other words, the government uses its police power to seize the difference between the amount of taxes you owed and the amount of your credit from some other individual, and then hands that money over to you.
Income redistribution … pure and simple.
Hillary’s little savings scheme isn’t going to cost the “government,” as she say, $20 to $25 billion. Much of that money is simply seized by the government and handed over.
Now .. if Hillary gets her little entitlement plan passed, let me tell you what the future holds in store. In campaign after campaign Democrats will tell the voters “Vote for me and we’ll increase the contribution limit for your American Retirement Account. Vote for that evil Republican running against me and he will take your money away!
By the way … you don’t have to work to get this handout. Of course if you don’t work, you don’t have income. If you don’t have income you don’t owe income taxes. That would mean that every single non-working person in this country would just have to find $1000 somewhere to put into this account and the government would rush forward to match it with someone else’s money.
Illegal aliens? I don’t know. She hasn’t said yet. Maybe someone will ask this dangerous woman if she plans to set up these accounts for illegals. The answer should be interesting.
Something else interesting: Hillary says that less than half the families in the U.S. have retirement savings accounts. Another lie. Ever heard of Social Security? Now instead of creating this new entitlement program, why not just establish private accounts for each and every poor sap paying into Social Security right now? Oh wait, I forgot. The politicians need those Social Security taxes to fund their vote-buying programs.
Watch this woman. All she seems to be doing lately is coming up with ideas for government entitlement programs … and government entitlement programs are nothing more than wealth redistribution programs. Check your scorecard we have:
Nationalized Health Care.
The Baby Bonus
American Retirement Accounts
Hillary’s idea of government involvement in our children’s education even before kindergarten!
In the meantime … have you heard one single idea from Hillary that would increase your personal freedom? Have you heard one single idea that would decrease the intrusiveness or the power of the Imperial Federal Government? How about one idea that would promote competition in the free market?
You’re right … you haven’t.
You haven’t because Hillary Clinton worships the God of Government. This is a woman who feels that there are only a select few in this country who are capable of ordering and living their own lives without guidance from those smarter and more capable than they. This is a woman who believes to the depth of her soul that you can’t exist without embrace of government guiding your every step and picking you up every time you stumble.
To Hillary Rodham Clinton, self sufficiency is a vice.
What’s next? Stay tuned, it should only take a day or two to figure that out.