Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

read the plan and then answer the questions The Plant Every American would have a wealth account of $80.000 established for him or her birth.

read the plan and then answer the questions
image text in transcribed
The Plant Every American would have a wealth account of $80.000 established for him or her birth. A person could have access to this count when he or the turned twenty one, but only upon graduation from high school for the rest of his or her a person could use this account to achievedered goals, but anything taken from the account must be paid back. As an example of how this account be used eighteen year olds attending college would be permined to access the account early to pay for college expenses including the high school graduate trying to escape a violent and drag ridden neighborhood workers who are ind of bom their job could live off the interest they found a new job or they could pay for further training for a related or different occupation, a young couple who just had the first child and wanted to buy a house could use the money for a down payment a truck driver could use the money to begin his or her own trucking company Any of the interest or principal used for this wealth account would eventually be repaid so that when an individual dies, the money plus interest from the wealth account would be reclaimed by the government and used to finance an account for another person. If an account did not have the amount should have, te government would get to make the first claims on whatever assets the dead person left behind in order to get the full amount reped(adapted from Ackerman, BA & Alto A (n.d) $80,00 and a dream The American Prospect online. Retrieved December 22, 2003, from him www.prospect orgV11/16 Ackerman 1. Review the plan and in a Word document, respond to the following explain the pros and cons of the Proposal explain the plan to raise the $30,000 is reasonable discuss any special considerations that will be required to implement this proposal be sure to address your own up bringing in Appalachia as part of your response firstname M3A3.docx (ex. rhumbert_M3A3.docx) 1 Tyto

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Management And Cost Accounting

Authors: Colin Drury

5th Edition

1861525362, 978-1861525369

Students also viewed these Accounting questions