Jon Corzine in It Takes a Family, by Rick Santorum

On Social Security: ASPIRE: America Saves for Personal Investment & Retirement

I have been working with Democratic Senator Jon Corzine on an idea titled the America Saving for Personal Investment, Retirement, and Education Act (the "ASPIRE" Act). It creates savings account called a Kids Investment and Development Savings (KIDS) account for every child born in America. Under this plan, the federal government would endow each account with a one-time $500 contribution. Every child living in households earning below the national median income would be eligible for an additional contribution of up to $500. These accounts would encourage savings and promote financial literacy for all children, and they would give low-income children in particular a sense of ownership, a stake in the American economy, and a source of wealth to help them through life in a manner similar to a federal employee's Thrift Savings Account. All earnings in the account would be tax-free until withdrawn. Source: It Takes A Family, by Sen. Rick Santorum, p.152-153 Apr 30, 2006

The above quotations are from It Takes a Family: Conservatism and the Common Good, by Rick Santorum. Click here for main summary page. Click here for a profile of Jon Corzine. Click here for Jon Corzine on all issues.
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Page last updated: Feb 24, 2019