Will they cut other programs in lieu of this one? Once they get their 60k, no more handouts? I don't like it, promotes a lottery mentality.
Can someone define asset promotion through tax credits and subsidies? If it's getting rid of income tax deductions, Franklin and I disagree on the definition of "spent".
Interesting concept, wonder how it would stack up vs some form of UBI though. Would it be more effective to give people a lump sum early in life or a never ending lifeline?
What are we doing with this, putting it in a interest bearing checking account at the local credit union?
That would be safer and better ran I bet. You can't tell me that all of those politicians could see all of this money sitting there, and not spend it trying to get reelected.
Oh, I have no doubt that is where this will end up. You better have a lockbox inside of another lockbox if you you even want to try this.
It's been 13 years, and I'm still pissed Bush's idea to give the option to privatize half of social security didn't go anywhere.
This has caused an interesting debate here in Economics today. Especially in a poor rural school where I teach.
Here is the single fundamental problem I have with designs like this. On paper in theory, it looks great. Give less advantaged a head start to pay for college/business/etc. Fantastic. Who's going to argue? BUT! It leaves out the human factor. Humans are flawed. You have to break the total mindset of a collective group of people for this to work. That's hard, if not near impossible. Unless you fundamentally change a lot of other stuff, it won't matter.
The economist who put this forward seems to agree with you. It's an idea. A sort of mental experiment.
