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Invisiblegettinjiggywithit
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Hillary thinks you should buy $5,000 savings accounts for every baby in America.
    #7465847 - 09/28/07 10:22 PM (16 years, 4 months ago)

http://www.cbsnews.com/stories/2007/09/28/politics/main3308297.shtml

Quote:

“I like the idea of giving every baby born in America a $5,000 account that will grow over time"~ Hillary





This is taking the nanny state welfare system waaaay to far. We really will put socialistic countries to shame with that one.

Why stop there since we are having so much fun spending other peoples money. How about Private Jets for everyone when they turn 40. :cool:

Weeeeeeeeeeeeeeeeeeeee:crazy2:


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Ahuwale ka nane huna.


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Invisiblewps
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: gettinjiggywithit]
    #7465899 - 09/28/07 10:36 PM (16 years, 4 months ago)

dumb idea

but anything is better than social security

I mean, I'd rather give money to babies... at least then I'm not being forced to support a bunch of useless old fogies that vote against my interests in record numbers despite not having the wherewithal to really know what is going on in these crazy modern times...


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"America touts itself as the land of the free, but the number one freedom that you and I have is the freedom to enter into a subservient role in the workplace. Once you exercise this freedom you've lost all control over what you do, what is produced, and how it is produced. And in the end, the product doesn't belong to you. The only way you can avoid bosses and jobs is if you don't care about making a living. Which leads to the second freedom: the freedom to starve."

- Tom Morello


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InvisibleDNKYD
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: gettinjiggywithit]
    #7465921 - 09/28/07 10:41 PM (16 years, 4 months ago)

So I have to pay a tax to support the old farts in this country via Social Security and now this cunt proposes I pay yet another tax to secure a $5,000 savings account for all the little whiney babies of the country?


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Invisiblewps
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: DNKYD]
    #7465928 - 09/28/07 10:43 PM (16 years, 4 months ago)

I think they want to phase out social security in favor of this new plan


they're both pretty dumb ideas, so both at once would be way too much BS, even for Americans


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"America touts itself as the land of the free, but the number one freedom that you and I have is the freedom to enter into a subservient role in the workplace. Once you exercise this freedom you've lost all control over what you do, what is produced, and how it is produced. And in the end, the product doesn't belong to you. The only way you can avoid bosses and jobs is if you don't care about making a living. Which leads to the second freedom: the freedom to starve."

- Tom Morello


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InvisibleDNKYD
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Registered: 09/23/04
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: wps]
    #7465953 - 09/28/07 10:51 PM (16 years, 4 months ago)

From the article:
"Clinton said such an account program would help Americans get back to the tradition of savings that she remembers as a child, and has become harder to accomplish in the face of rising college and housing costs."

Simply giving $5,000 to 18 year old kids won't teach them shit about the value of saving $5,000. That is some of the dumbest logic I've heard in my life.

And you want kids to have an easier life in the face of rising college and housing costs? Fix your fucking system. Get rid of pork-barrel spending, shrink the size of your overreaching government, cut the salaries of every representative or congressman and get rid of the blatant corruption. This half-witted bitch thinks throwing $5000 at the feet of every kid is going to solve something? I've heard more intelligible things creep out the asses of toothless trailer park dwellers.


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Invisiblewps
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: DNKYD]
    #7465970 - 09/28/07 10:54 PM (16 years, 4 months ago)

hey, don't scoff in the face of $5,000


you could buy like half a semester at college with that

or 2% of a house


damn, our money is worthless.


--------------------
"America touts itself as the land of the free, but the number one freedom that you and I have is the freedom to enter into a subservient role in the workplace. Once you exercise this freedom you've lost all control over what you do, what is produced, and how it is produced. And in the end, the product doesn't belong to you. The only way you can avoid bosses and jobs is if you don't care about making a living. Which leads to the second freedom: the freedom to starve."

- Tom Morello


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Invisibleroby000
me
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: wps]
    #7465980 - 09/28/07 10:57 PM (16 years, 4 months ago)

im not paying taxes ever again.


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OfflineSeussA
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: roby000]
    #7466491 - 09/29/07 06:59 AM (16 years, 4 months ago)

This is nothing more than, "Let me buy your vote". Worked for Chavez.


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Just another spore in the wind.


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Offlinezappaisgod
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: Seuss]
    #7466832 - 09/29/07 10:04 AM (16 years, 4 months ago)

Not so well for McGovern though:

Quote:

McGovern's platform also included an across-the-board, 37% reduction in defense spending over three years [White p. 123]; and a "demogrant" program giving $1,000 to every citizen in America [White p. 125] that was later changed to creating a $6,500 guaranteed minimum income for Americans,
http://en.wikipedia.org/wiki/George_McGovern




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Offlineunbeliever
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: gettinjiggywithit]
    #7467003 - 09/29/07 11:15 AM (16 years, 4 months ago)

God I hate all of the candidates this year, aside from Kucinich. He's the only one who has a concrete set of ideals and actually acts accordingly. None of this war-mongering fear voting the rest of the Dem candidates do. Not all this bullshit.


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Happiness is a warm gun...


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Offlinea_guy_named_ai
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: unbeliever]
    #7467700 - 09/29/07 04:30 PM (16 years, 4 months ago)

I think investing 5,000 dollars for a baby is a great idea. But why is it the governments responsibility to do that for us??


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InvisibleDNKYD
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: a_guy_named_ai]
    #7467915 - 09/29/07 06:06 PM (16 years, 4 months ago)

Because, according to them, you don't have the intelligence or responsibility to save for your own retirement (or schooling, or housing, or whatever else you need to purchase).


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InvisibleAsante
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: gettinjiggywithit]
    #7471881 - 09/30/07 08:44 PM (16 years, 4 months ago)

Quote:

a $5,000 account that will grow over time





If you want to put some dough aside for your kid, you are wise to do so in gold coins.


--------------------
Omnicyclion.org
higher knowledge starts here


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InvisibleCracka_X
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: unbeliever]
    #7471993 - 09/30/07 09:09 PM (16 years, 4 months ago)

Quote:

unbeliever said:
God I hate all of the candidates this year, aside from Kucinich. He's the only one who has a concrete set of ideals and actually acts accordingly. None of this war-mongering fear voting the rest of the Dem candidates do. Not all this bullshit.




I hate it too, but it's like everyone has their pants down while they're trying to be serious, yet it's so funny.


--------------------
The best way to live
is to be like water
For water benefits all things
and goes against none of them
It provides for all people
and even cleanses those places
a man is loath to go
In this way it is just like Tao        ~Daodejing


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OfflinePhred
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: Asante]
    #7472093 - 09/30/07 09:37 PM (16 years, 4 months ago)

Quote:

If you want to put some dough aside for your kid, you are wise to do so in gold coins.




Nope. That would be just about the dumbest possible move. Let's suppose your kid was born October 1, 1989, and you put aside US $2700 for him in gold (coins or bullion -- doesn't matter), to be given to him on his eighteenth birthday today -- October 1, 2007. Gold was selling for US $368 an ounce on that day, so you could have bought 7.33 ounces for that price. At the close of business on September 28, 2007, you could have traded in that 7.33 ounces of gold for cash and handed him US $5454. (7.33 x US $744). In the eighteen years that gold sat there, it doubled in value (in US dollars).

Or instead you could have bought US $2700 of a Dow Jones Industrial Index Fund on Oct 1, 1989, and cashed it on Friday September 28, 2007 for US $13,896. In the same eighteen years it took the gold to double in value, the stocks quintupled in value.





Phred


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InvisibleAlion
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: Phred]
    #7472139 - 09/30/07 09:47 PM (16 years, 4 months ago)

all i read was
Quote:

I like the idea...




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Offlinea_guy_named_ai
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: Phred]
    #7472912 - 10/01/07 04:45 AM (16 years, 3 months ago)

Quote:

Quote:

Quote:
If you want to put some dough aside for your kid, you are wise to do so in gold coins.






Quote:

Nope. That would be just about the dumbest possible move. Let's suppose your kid was born October 1, 1989, and you put aside US $2700 for him in gold (coins or bullion -- doesn't matter), to be given to him on his eighteenth birthday today -- October 1, 2007. Gold was selling for US $368 an ounce on that day, so you could have bought 7.33 ounces for that price. At the close of business on September 28, 2007, you could have traded in that 7.33 ounces of gold for cash and handed him US $5454. (7.33 x US $744). In the eighteen years that gold sat there, it doubled in value (in US dollars).

Or instead you could have bought US $2700 of a Dow Jones Industrial Index Fund on Oct 1, 1989, and cashed it on Friday September 28, 2007 for US $13,896. In the same eighteen years it took the gold to double in value, the stocks quintupled in value.







I think investing your life and hard earned money in the stock market is insanity. You never know what the new day will bring. You're making a serious gamble. If I invest gold I think I would have a lot better odds of making some money, than investing my money for my childs future in the gamble called stock market and possibly losing everything, especially when you're talking years. Who knows what can happen by the time a kid grows up.


Edited by jonathan_206 (10/01/07 04:47 AM)


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OfflineSeussA
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: Alion]
    #7472914 - 10/01/07 04:46 AM (16 years, 3 months ago)

I have no problem with the plan, as long as the 5K per kid comes out of Mother Hillary's own personal bank account.


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OfflinePhred
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Re: Hillary thinks you should buy $5,000 savings accounts for every baby in America. [Re: a_guy_named_ai]
    #7473207 - 10/01/07 09:20 AM (16 years, 3 months ago)

Quote:

I think investing your life and hard earned money in the stock market is insanity.




On the contrary. It is fiscally the most sane thing to do, by a lot.

Quote:

You never know what the new day will bring.




Which is why "day trading" in the stock market is a bad idea. If we were talking about investing that money for a single day, you'd have a point. But we're talking about eighteen years here. Different story entirely.

Quote:

You're making a serious gamble.




Actually, you are not. For investments of that time frame, it is not a gamble at all.

Quote:

If I invest gold I think I would have a lot better odds of making some money...




Actually, no, you won't make some money. You'll (at best) keep even with inflation.

Quote:

...than investing my money for my childs future in the gamble called stock market and possibly losing everything, especially when you're talking years. Who knows what can happen by the time a kid grows up.




Over the timeframe of two decades, the stock market isn't a gamble at all. As a matter of fact, it is just about the only thing that isn't.

Please note I'm not talking about picking some stocks at random, I'm talking about buying an index fund. It is true that you could buy stock in a company and lose it all if the company folds some years down the road. But you can buy (for example) a Dow Jones Industrial Average Index fund. So if the DJIA closes today at 14,000, you could spend $14,000 and get one unit of the fund. If the DJIA closes at $15,000 three months down the road, you sell for $15,000 and pocket a grand. Etc.




Phred


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