So I guess if this gets approve it only applies for babies that will be born in the future too bad DH is getting snip


Coming Soon: $500 for Every Newborn? - Yahoo! Finance

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"If you think nobody cares if you're alive, try missing a couple of car payments"
- Anonymous

My first reaction is "here we go, another welfare/socialist program"....my gut doesn't like it, the more they do this, I just feel like I'll be the one to end up paying for it somehow and other people won't. The argument that once people own assets they get a feeling of empowerment...I think it takes a lot more than that. And the line that poorer families will receive additional funding...well, that just screams welfare to me.

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I just wanna live while I'm alive...

I agree.

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When I want your opinion I'll remove the duct tape.......K?

It's an interesting concept. I see they are doing it in England, but not long enough for the first round of kids to gain access to the $$ yet. What I like about the concept is the idea that for a small investment in a child, there could be enormous gains later. If that $500 were put into an account that could not be touched, then at age 18 they might have $$ to go to school without having to apply for grants or student loans. They might have money to put in for a downpayment for a home, or to start a business - all things that stimulate the economy.

I am curious what would happen to the money of a child who does not reach adulthood - does it revert back to the government system? Also, I think it would be cool if it was something that families could opt INTO instead of the child tax credit for the year the child was born.

For those who feel this smacks of more socialism or welfare, explain how a one-time $500 investment towards the child's future is more socialistic then a family getting a tax credit every year for every single child they get. And then that kid is eligible for all sorts of gov't programs if the parents are below a certain income level. At least this is something that might give a child born in poverty a chance to move up once they are 18.

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I think it does sound like a nice program...but it's another nice program in a string of nice programs. All basically the same. And I agree with you about the family tax credit...that's another socialist program as well.

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I just wanna live while I'm alive...

It depends who is paying for this? Personally it is real east to save if people are already getting a $1000 tax credit per year per child. Any parent could add that money to a savings account.

My dd will have something like that and its costing up $5 a month. Every month $5 is transfered into an account at 3 we are close to $500. Plus a few savings bonds that were baby gifts. We have had some tight times but we still manage $5

I rather think a program to teach low income families how to save money would be better.

So I know I want more kids and while it would be nice we really don't need more funds. There are better things the money would go for.

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Kimberly Proud Mommy to Bethany Rose April 2006 &

Organizer of the Coupon Clippers of Tacoma