Congress Moves Quietly to Expand Welfare

[longknife]

The article directed me to ABLE Act of 2014 H.R. 647 - GovTrack.us where I was able to get an overview of this bill, H.R. 647, ABLE Act of 2014. Here's the first para of the Summary:


The Achieving a Better Life Experience (ABLE) Act would ease the financial burden for individuals with disabilities by creating tax-free accounts that can be used to save for disability-related expenses. These accounts can be created by individuals to support themselves or by families to support their dependents.


This effectively negates the “assets test” [Assets] applicants are required to pass before being eligible for benefits.


Good or bad? Decide for yourself. Read the full article @ You ve Never Heard of This Legislation. But If Passed It Would Increase the Welfare State.

 

[BlackSand]

I think it is a lot like the ideas in 401k's, or Medical Savings Accounts. If people want an account that allows them to save money for disabilities that may occur tax free ... Then it should be okay.

If people want to use a tax free account to funnel money through tax free in regards to existing disabilities ... It would just be easier to track if they allowed a deduction versus monitoring an account.

.