Lions... Thoughts? Comments? Good? Or Bad Idea?
From Greg M
Lions…
Most of you are already aware of this. So with that, I would like to hear your thoughts. Please comment.
As a part of the new spending bill, included are"$1,000 MAGA Accounts." Officially termed "Money Accounts for Growth and Advancement." These accounts aim to provide every US citizen child born between January 1, 2025, and December 31, 2028, with a $1,000 government-funded investment account at birth. The funds would be invested in low-cost index funds. The account holder could access the funds upon turning 18 for approved uses such as education, home purchases, or starting a business. Withdrawals for non-approved purposes before age 30 would incur income tax and a 10% penalty. These MAGA accounts are similar to what The Democrats were proposing called "baby bonds."
Lions... So how would these MAGA accounts be funded? As always… The Federal Reserve through debt monetization.
Here’s how it would play out.
Congress passes the spending bill with MAGA Accounts.
The Treasury borrows the money to fund the $1,000-per-baby program.
The Fed buys that debt (directly or indirectly) to keep yields down.
New digital dollars are created and deposited into those accounts.
GOOD IDEA? BAD IDEA? OTHER?
GM
Another way to take control of your money from cradle to grave! A government handout usually as a benefit for the government.
Remember all the checks when they lockdown in 2020 the greatest scam in the history of humanity that they gave everybody just so they would keep their mouth shut with their mask on and obey, and then we got the major hyperinflation from all of those checks and being told not to go to work this is just the beginning of that movement all over again What the fuck is $1000 going to do it’s such a bait and switch set up of catastrophe and a total mockery.