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Author: r2d2t2 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 19027  
Subject: IDA Date: 7/3/2000 7:21 PM
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I have bee hearing about a federal saving program for low income people. apparently if you save a dollar the gov. will put three dollars with it. is this for buying a

house or what. anyone have information please. thanks
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Author: tdbowz One star, 50 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4361 of 19027
Subject: Re: IDA Date: 7/3/2000 8:49 PM
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Now by golly thats a new one on me. Sounds as though they want to reward people for saving money that they really don't have. Friend, I'm in the camp that if it sounds too good to be true then it is. Gotta ask yourself "what kinda fool am I"?

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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4362 of 19027
Subject: Re: IDA Date: 7/3/2000 9:33 PM
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r2d2t2 asks,

I have been hearing about a federal saving program for low income people. apparently if you save a dollar the gov. will put three dollars with it. is this for buying a house or what. anyone have information please. thanks

This "Three For One" deal sounds suspiciously like one of Al Gore's campaign promises.

He has talked about the Gov't putting up $300 for every $100 contributed to an IRA by a low income worker.

Hard to believe the Republicans would let anything like this pass unless it was tied to eliminating the Federal Estate Tax on millionaires. <grin>

intercst

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Author: mdorsey One star, 50 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4363 of 19027
Subject: Re: IDA Date: 7/3/2000 10:32 PM
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Yes, I heard about it on the evening news tonight. I guess it is for real but I didn't hear how you could qualify or where to get more info.

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Author: rjm1 Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4364 of 19027
Subject: Re: IDA Date: 7/3/2000 11:46 PM
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I have bee hearing about a federal saving program for low income people. apparently if you save a dollar the gov. will
put three dollars with it


It is a nice sounding sound bite to get your vote.

Where does the extra money come from? Why from the people who do not qualify for the give away. Does this sound fair?

Maybe a plan that lets you deduct from your taxes dollar for dollar what you save would be better. But then we would all save and the goverment would not have any money.

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Author: GLSHEFF Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4368 of 19027
Subject: Re: IDA Date: 7/4/2000 9:15 AM
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<<I have bee hearing about a federal saving program for low income people. apparently if you save a dollar the gov. will
put three dollars with it
>>

This sounds like typical election year pie in the sky, vote for me, posing to me. But, on the off chance it pans out, Where do I sign up?

Gary:o)



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Author: dgthepiper Big red star, 1000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4369 of 19027
Subject: Re: IDA Date: 7/4/2000 9:23 AM
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Where does the extra money come from? Why from the people who do not qualify for the give away. Does this sound fair?

Robin Hood is at it again!


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Author: r2d2t2 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4372 of 19027
Subject: Re: IDA Date: 7/4/2000 2:55 PM
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tmf pixy. how about it? any info on this IDA thing. I think they have already started the program.

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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4374 of 19027
Subject: Re: IDA Date: 7/4/2000 3:15 PM
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r2d2t2 asks:

<<tmf pixy. how about it? any info on this IDA thing. I think they have already started the program.>>

If such a program exists, then it has escaped my notice. It sounds vaguely like the "fix" Al Gore is talking about for Social Security. I doubt highly anything like you are describing exists on the federal level today. And personally, I hope it never will. The expense would be horrendous.

Regards..Pixy

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Author: mhtyler Big red star, 1000 posts 10+ Year Anniversary! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4386 of 19027
Subject: Re: IDA Date: 7/5/2000 5:51 AM
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"This sounds like typical election year pie in the sky, vote for me, posing to me. But, on the off chance it pans out, Where do I sign up?"

Probably, I'm still waiting for my free gov't cheese...

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Author: r2d2t2 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4390 of 19027
Subject: Re: IDA Date: 7/5/2000 11:24 AM
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I was watching abc news fri. and they were talking about this program. evidently the governmemt is giving $60 million for training programs on how it works. one woman said she never could have bought a house with this $3 for$1 saving progam. wasI dreaming or did some one else see it? I am starting to get a strange feeling

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Author: ApplePieChar Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4393 of 19027
Subject: Re: IDA Date: 7/5/2000 2:20 PM
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You weren't dreaming. I saw it too. My recollection is that it was to encourage low income people to save.

Charlotte

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Author: TMFPixy Big gold star, 5000 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4394 of 19027
Subject: Re: IDA Date: 7/5/2000 3:07 PM
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<<I was watching abc news fri. and they were talking about this program. evidently the governmemt is giving $60 million for training programs on how it works. one woman said she never could have bought a house with this $3 for$1 saving progam.>>

I wish you knew more. I am unable to find out anything on any of the ".gov" sites. Is IDA an acronym? I tried HUD because of the home purchase you mentioned, but nothing shows up there. However, it did describe how they're allowing some teachers to buy homes at 50% off. Still, that's not the program you describe.

Regards..Pixy

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Author: r2d2t2 Two stars, 250 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 4397 of 19027
Subject: Re: IDA Date: 7/5/2000 7:53 PM
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applepieChar, thank you. I was really getting worried. IT is a valid concern for me that what little mind I have is going south.

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