Well, I was prepared to be underwhelmed. I’m generally against Government Funded Benefits of any kind. They are typically overly complicated boondoggles with layers of crap in them that make them nearly impossible to use, unless you have lawyers and tax accountants on staff. Then they load up various timers and penalties so that to actually USE any money you put in a plan is painful, and if you DON’T use it all each year, screws you over by taking your money away. “Tax savings account”, to me, means “Use or lose it complicated Tax taking scheme”.
So I tuned into the Trump speech fully expecting to hear pandering to the masses with the typical crap. I was wrong.
The Trump plan has the usual parade of actors, but they have had a significant costume change. The “childcare savings accounts” let you keep your own money at the end of the year and roll it forward. At 18 years old, any left can be used for higher education costs. Just one example.
It is modestly complicated, but only where it needs to be to assure fairness. The bulk of the plan is just various ways to let folks with children shelter some of their own money from taxes via various kinds of savings accounts. Basically, a kind of IRA or 401K for kid and elder care. There’s a 6 week maternity leave payment for mothers not covered by their employer, but that is paid for from the unemployment insurance fund via tighter control of fraudulent payments. Nice.
Overall, it was very clear this plan was cooked up by involving families and working mothers, and not by some back room “deal” between professional politicians and various industry lobbyists. How do I know? One example to illustrate: IF you want to use your child care money to pay your grandparents to baby sit, you can. Gee, keeping your own money in your own family…
Whenever the speech is up on youtube, if anyone sees it there, please post a link. (I have to run off and cook dinner now ;-)
Oh, and Ivanka did a lead-in speech that was just great. I’d like to see her as the first woman President. MUCH better than Hillary. Smarter, brighter, positive outlook on life, more eloquent. She’d make a great First Lady President. Maybe in 2020 or 2024 … Whenever Daddy Trump is back running the Trump Companies and they can spare her…