U.S. Senator Cory “Spartacus” Booker, who I am embarrassed to say is from New Jersey, is introducing a bill to give every child born in the U.S. a government funded interest bearing savings account. Let me say that again. Just being born entitles you to an interest bearing savings account funded by the U.S. government according to Senator Spartacus. Much like the $15 minimum wage being pushed by Governor Murphy, State Senate President Sweeney and State Assembly Speaker Coughlin this is another bill that will disincentivize people. Why work hard and save? Why teach your children to be financially responsible and save? Uncle Spartacus has your back!
The American Opportunity Account Act would give every child born in the U.S. a $1,000 interest bearing savings account at birth and deposit an additional up to $2,000 per year until the child’s 18th birthday – all funded by the U.S. government of course. The program is expected to cost $60-billion dollars. Booker says he will fund the program by increasing the capital gains tax rate by 4.2 points, increasing the estate tax, and raising taxes on multimillion-dollar inheritances.
Booker says his proposed bill is aimed at fighting “income equality”. When will Liberals begin to fight for “effort equality”? Given all of the talk lately about Booker being a potential Democratic candidate for President in 2020 and his grandstanding at Judge Kavanaugh’s confirmation hearing I’d say his bill is aimed at gaining Liberal support for 2020.
I have a real problem with the term “income equality”. Like many Americans I started life with nothing. Zero. In a dumpy apartment with used furniture. If there was anyone more destined to lose at life it was me. Through hard work, a ton of hours and determination I built a business, put two kids through college and built a comfortable life. I raised two children who graduated college and are pursuing professional careers. They learned the value of a dollar and financial responsibility. Why does Booker believe he has a right to dig deeper into my pocket, or worse my family’s inheritance, to fund those who will not work equally as hard or teach their children financial responsibility?
The American Dream is being eroded in this country. Our parents told us that if we work hard success was within our grasp. Today’s Liberals believe that if you work hard and achieve what used to be the American Dream they then have the right to dig into your pocket so they can push their socialist agenda. I have a real problem with Booker proposing to increase taxes on inheritances to fund his socialist program. Someone can’t work hard to leave an inheritance to their spouse or children without Booker feeling he is entitled to a taste?
Every time I hear Liberals like Booker, Menendez, Murphy, Clinton and others talk about digging deeper into the pockets of hard working Americans to fund socialist programs I want us all to get up, go to the window, open it and yell I’m as mad as hell and I’m not going to take this anymore!