Clinton: No Baby Bonds, But $1K For 401(K)

Candidate Presents Retirement Accounts Plan, Gives Up On Idea To Give Newborns $5K

(AP)  Families could get 401(k) retirement accounts and up to $1,000 in annual matching funds from the government under a plan offered Tuesday by Democratic presidential candidate Hillary Rodham Clinton.

At a cost of $20 billion-$25 billion a year, the plan is Clinton's largest domestic proposal other than her plan for universal health insurance. The New York senator said it would be paid for by taxing estates worth more than $7 million per couple and would help narrow the gap between the rich and those who don't have enough savings for retirement.

At the same time, Clinton said she has given up another idea for a savings incentive — giving every baby born in the United States a $5,000 account to one day pay for college or a first home.

She made that suggestion last month before the Congressional Black Caucus, saying it was just an idea and not a policy proposal. The idea was criticized by Republicans, and she told The Wall Street Journal in an interview published Tuesday that it's off the table.

The campaign of her Democratic rival John Edwards suggested it was an example of Clinton setting her positions by polls. "Apparently, new polling data seems to have pressured the Clinton campaign to throw out the baby bond with the bathwater," said Edwards spokesman Chris Kofinis.

As for the retirement accounts, Clinton said during a campaign stop in small-town central Iowa, "They will begin to bring down this inequality that is eating away at our social contract." She said, "This is a major commitment to how I believe we can begin to right the balance again."

Her campaign said that for every $7 million estate that gets taxed, at least 5,000 families would receive the matching funds.

Clinton said she wants to create "American Retirement Accounts" in which each family could put up to $5,000 annually in a 401(k) plan. The federal government would provide a tax cut to match the first $1,000 for any household that brings in less than $60,000 a year and 50 percent of the first $1,000 for those that make $60,000-$100,000.

Her campaign said the accounts would be designed for adults of working age and not open to children, but that it wouldn't be a requirement that people work to participate. The matching funds would come in the form of a refundable tax credit that would be deposited into the 401(k) plan.

Higher income earners who don't have employer-sponsored plans could participate, but contributions to the accounts would count against the IRA contribution limit.

She said she would encourage employers to have direct deposit from paychecks into the accounts.

Clinton said less than half the families in the United States have retirement savings accounts and those who have them aren't saving enough. She said she often meets people working even into their early 80s because they don't have enough savings.

"We don't have much of a nest egg to fall back on," she said.

Although the money would be intended mainly for retirement, she said people should also be able to use the savings to buy a house or pay for college and the government should consider letting workers use a portion for hard times like an illness or accident.

Clinton said the accounts should not be used to replace any part of Social Security and that she is committed to addressing the long-term challenges of that program.

"We have to fight and finally bury the idea of privatizing Social Security," she said.

[pepperwood2]

That''s an easy policy for CACKLING CLINTON. Not allow any Babies to be BORN of any Race in this Country.

Save the Planet - Use Aborted Babies for Live Stem Cell Research. This coming from the World''s Most Intelligent Woman. With the rest of her CRONIES in Congress, She can then pull this off on us. CACKLE CACKLE CACKLE!

At the same time, Clinton said she has given up another idea for a savings incentive %u2014 giving every baby born in the United States a $5,000 account to one day pay for college or a first home.

She made that suggestion last month before the Congressional Black Caucus, saying it was just an idea and not a policy proposal. The idea was criticized by Republicans, and she told The Wall Street Journal in an interview published Tuesday that it''s off the table.

[dutchfarmer]

What an idiot! Mrs. Billy Clinton is taxing her little socialist mind to come up with ways to buyoff the ignorant parasites who will vote for her. She needs to rescind her citizenship and go to the USSR or China.

[mudrose-2009]

"We have to fight and finally bury the idea of privatizing Social Security," she said.

WELL, WHEN YOU''VE SIPHONED EVERY LAST DIME OUT OF IT, WE WON''T HAVE TO DISCUSS ANYTHING. IT WON''T BE PUBLIC, IT WON''T BE PRIVATE, IT JUST WON''T BE.

[mudrose-2009]

HEY, I LIKED THAT $5,000 "NEW BABY" DIAPER. *****. SHE ALREADY REDISTRIBUTED IT.

[signof4]

Note to ConDomism and MCVet:

If you two vote for Hitlery, perhaps she will finally get you that 40 acres and mule you''ve been waiting for! HA!!!

[signof4]

This socialist beotch just can''t stop thinking of ways to apply her plans for income redistribution. What a pandering trash bag! She''s as phoney as a million dollar bill.

[mudrose-2009]

I WANT MY CHICKEN TOO! MIGHT AS WELL PROVIDE THE POT WITH IT.

[dante805]

What''s the give-away program of the day? How about $500 for great haircuts. Billary is a phony, wicked witch of NY. Try peddling your garbage West of the Hudson. ABC-anyone but clinton, but not Dumbo Ears

[gunnerv1]

She''s trying to buy "The stairway to Heaven". She can''t raise enough money to buy me!

[tbweb]

Giving up on giving newborn babies $5000 was smart, even though medical advances are letting Americans live longer, the chances of newborns reaching age 150 indicated in the fine print was still remote! LOL

[likeitis5050]

Hillary is all about convincing people they have ''rights'' where they really only have choices or options in a matter. She loves creating movements of people demanding their ''rights'' under the Constitution which creates a demand for her government interference and regulation. We need someone who can point out the difference between having a right and having an option.

We had a huge backlash of bitter people angry over not getting to the Hannah Montana tickets before all the ticket outlets and corporations got to them. They were ''demanding tickets be made available because they had a right to purchase a ticket that hadn''t been marked up 400% over the original price''...(stupid move by the Governor to legalize ticket scalping...buh-bye). The whole point is no one pointed out that it wasn''t their ''right'' to be able to buy a stupid ticket for their little girl. They are still whining and pitching fits over this denial of their civil rights. They can buy tickets...at $400 each and then demand a change in the law...or go without and demand a change in the law...those are their options...not rights. Hillary will explain it better once she''s in control.

[ymod]

I''m gonna play Democrat: "I propose a $2,000 retirement account--thus Hillary''s is cutting my program....I say it to music:

www.conservativemusiconline.com

[sharncedar]

" "They will begin to bring down this inequality that is eating away at our social contract." She said, "This is a major commitment to how I believe we can begin to right the balance again."

Oh that''s a hilarious quote. While a hedge fund manager brings down $400 million annual salary for shipping our technology secrets to India and China, somehow a check for $1000 is going to equalize our positions with these crooks. Hah hah, Hillary sure knows how to make jokes at our expense. yeah right, maybe I''ll bid on one of those fancy beach houses with my $1000.

[sharncedar]

The Chinese have $3000 in trade surplus reserves for every American. That is, every American, man woman and child owes the Chinese $3000 in government bonds. Perhaps they can give us the $1000, rather than Hillaree borrowing it from them to give it to us. And they will still own us. Actually we''ll use the $1000 to buy our own manufactured goods, manufactured with our technology secrets, back. so the Chinese will end up with $4000, let''s see is that right.

Anyway, thanks Hillary. The Chinese thank you.

[toldyouso21]

Hillary''''''''s vote buying pandering reminds me of Bush''''''''s $300 check to regular Americans while giving the super wealthy a permanent and ongoing cut,

Posted by realpatriot1 at 10:32 PM : Oct 09, 2007

and then there was the rest of us--who made too much to get Bush''s check, but made too little to benefit from the tax cuts--we are the same group that makes too much to qualify for grants and many scholarships for our kid''s college, but may have too little left over to afford sending our kids to college.

Guess, it is our job to just stand and applaud those who failed to save''s latest handout or aspire to be wealthier to get in on Bush''s tax cuts.

There are a lot of people in this middle--affluent on paper but in reality, in as much of a bind as the "regular Americans"

The thing is--the grass always LOOKS greener on the other side--but often, it is just the angle of the sun--not the true color of the grass.

[toldyouso21]

Hillary''''s vote buying pandering reminds me of Bush''''s $300 check to regular Americans while giving the super wealthy a permanent and ongoing cut, except she''''s giving everyone(that has kids) the same goodies.

It was a bad idea and she needs to scrap it entirely, like the Bush plan to privatize social security.



--------------------------------------------------------------------------------

Posted by realpatriot1 at 10:32 PM : Oct 09, 2007


She DOES need to scrap it, but understand that just like Bush''s tax cuts and credits--not everyone with kids will benefit. Those who make too much, will get nothing, except the chance to help finance this freebie for other Americans who may or may not have been disciplined enough to save. The trouble with giveaways--is that many are left out (like everyone making over 60K in Hilary''s world--and I never got a Bush refund either) but are still forced to pay for everyone else--these "Programs" are always made on the backs of someone.

The real question is, why does Hilary think she needs to pay people to save? Companies match their employee''s in 401Ks--so is the government now the employer of us all? I think the money should come from the Federal pensions of all Congressmen and White House personnel--we should suspend that handout and return their benefits and monies to the treasury.

If it came to that--I doubt Ms. Clinton would be soo free with the money.

[toldyouso21]

" "They will begin to bring down this inequality that is eating away at our social contract." She said, "This is a major commitment to how I believe we can begin to right the balance again."

Hilary Clinton, is a naive, idealistic person. Anyone can save money. Millions of immigrants have proven that. Often, immigrants may live 20 to a house just to save on rent and drive only one car. Those who choose to can save by:

1. Stop smoking cigarettes or drinking alcohol and put that money in the bank.

2. Live in a modest apartment and stop trying to buy the latest clothes, CDs, electronics, etc

3. Stop buying Cheetos, Pepsi and Coke and put that money in the bank.

4. don''t seek outside entertainment like the movies or clubs and put that money in the bank

5. Join the library and check out books and movies and put that other money in the bank.

6. Nix the piercings, tatoos and other forms of self expression--and put that money in the bank.

7. Lay off the Snickers, Twizzlers, Lotto tickets, etc and put that money in the bank

The fact is, no matter how poor--most of us waste money in many ways--be it from going garage selling, or buying too many clothes, makeup, eating out, new cars, etc--there are always ways to save money. IF that is where the priority is--there is nothing worse than trying to "buy" a set of values. IN the end--it does not work, but it sure as hell wastes a lot of money.

[realpatriot1]

One_American,

I got all your questions right, what do I win?

Hillary''s vote buying pandering reminds me of Bush''s $300 check to regular Americans while giving the super wealthy a permanent and ongoing cut, except she''s giving everyone(that has kids) the same goodies.

It was a bad idea and she needs to scrap it entirely, like the Bush plan to privatize social security.

[toldyouso21]

Posted by clgl_fubar at 08:59 PM : Oct 09, 2007


the policy that Hilary Clinton is espousing serves to emasculate the idea of ambition, ingenuity, self sufficiency or motivation and hard work. It is the carrot of government--mediocrity.

After all, why would one want to work harder than the masses? If you forge ahead, and do better than most--all it will net you in Hilary''s world is the opportunity to pay for more giveaways for those who don''t want to work as hard.


Americans are entitled to health care, food and shelter and clothing and basic education--after that--they appreciate it more if they have to work for it. Nobody really prospers from handouts--it makes those who can''t have them resentful and serves to discourage and demotivate high achievers and it makes those who get them feel entitled and that government OWES them a better life. Government does not owe us a better life--government just owes us a society in which if we get off our own azzes--WE can make a better life for ourselves. Class wars (as well as racial ones) are coming. Bet on it.

[toldyouso21]

I hate it when politicians try to buy votes--especially when they do it with our money. We have enough issues to pay for and resolve, without trying to bribe Americans into saving money. This is worse than Bush''s 400.00 tax refund. It is reprehensible, that after many Americans scrimp, save and sacrifice to have 401Ks and to get somewhere, that Clinton comes along and basically tries to bribe or "pay off" people to save.

Why stop there? Offer 1000.00 to women to not have abortions and give their child up. Give all highschool students 1K for staying in school and graduating instead of dropping out. How about 1K for every kid in the ghetto or bad part of town that does not join a gang? Or maybe 1K to every obese person if they lose some weight?

We are becoming a country of handouts, entitlements and beggars---thinking nothing need be done using honor or discipline if a greased palm can get it done. it is producing a group of Americans that feel the country owes them something and those who make money owe the most. If there was ever a disincentive for hard work, ******* like this would be it. Ayn Rand had it right--it looks like we have met "Toohey" and he is a woman named Clinton.