Ever heard of IDAs Bobert? It is another way that your "Boss Hogg" rich people and corporations are trying to help poor people. Not by forking over the money you claim they steal from the poor but by teaching them how to be sucessfull. Quite a differenc from your class warfare techniques so obviously you will have to find fault somehow so wind up your stink bomb pitchin' arm, get your lighter lit and get ready for some real fun.

What are IDAs?

    Individual Development Accounts (IDAs) are emerging as one of the most promising tools that enable low-income and low-wealth American families to save, build assets, and enter the financial mainstream. Based on the idea that all Americans should have access, through the tax code or through direct expenditures, to the structures that subsidize homeownership and retirement savings of wealthier families, IDAs encourage savings efforts among the poor by offering them 1:1, 2:1, or more generous matches for their own deposits. IDAs reward the monthly savings of working-poor families who are trying to buy their first home, pay for post-secondary education, or start a small business. These matched savings accounts are similar to 401(k) plans and other matched savings accounts but can serve a broad range of purposes.
    IDA programs are implemented by community-based organizations in partnership with a financial institution that holds the deposits, and funded by public and private sources. Similar to 401(k)s, IDAs make it easier for low-income families to build the financial assets they need to achieve the American Dream. Populations that have benefited from participation in IDA programs include former welfare recipients, youth in disadvantaged urban and rural schools, recent refugees, and the working poor.
    Federal and state governments and/or private sector organizations and individuals can match deposits for low-income families. There is potential for creative program design and partnerships among the public, private, and nonprofit sectors, in cooperation with account holders themselves. The savings and financial literacy components of IDAs are attracting the financial community to be involved in IDA programs. Several financial institutions across the U.S., including community banks and credit unions, are currently running IDA programs, and many other financial institutions are funding IDA programs and holding accounts.
    * Low-income families can save
The American Dream Demonstration (ADD), a 14-site IDA program, has proven that low-income families, with proper incentives and support, can and do save for longer-term goals. In ADD, average monthly net deposits per participant were $19.07, with the average participant saving 50% of the monthly savings target and making deposits in 6 of 12 months. Participants accumulated an average of $700 per year including matches. Importantly, deposits increased as the monthly target increased, indicating that low-income families' saving behavior, like that of wealthier individuals, is influenced by the incentives they receive.
    * Financial literacy creates savers and savvy consumers
Key to the success of IDAs is the economic education that participants receive. Information about repairing credit, reducing expenditures, applying for the Earned Income Tax Credit, avoiding predatory lenders, and accessing financial services helps IDA participants to reach savings goals and to integrate themselves into the mainstream economic system. The encouragement and connection to supportive services keep early withdrawals to a minimum and overcome obstacles to saving Banks and credit unions benefit from these new customer relations, and states benefit from decreased presence of check-cashing, pawnshop, and other predatory outlets.
    * Assets change lives
   More than income enhancement, asset accumulation affects individuals' confidence about the future, willingness to defer gratification, avoidance of risky behavior, and investment in community. In families where assets are owned, children do better in school, voting participation increases, and family stability improves. Reliance on public assistance decreases as families use their assets to access higher education and better jobs, reduce their housing costs through ownership, and create their own job opportunities through entrepreneurship.
    * Communities benefit from homeownership, entrepreneurship, and educational attainment
Twenty-eight percent of ADD "graduates" bought a home, 23% started or expanded their own business, and 21 % pursued higher education. The rest used their savings for home repair, job training, or retirement. This represents a substantial investment in low-income communities and a significant stabilizing effect on the local economy. There is evidence from IDA initiatives that poor people, with proper incentives and supports, will save regularly and acquire productive assets. For example, 2,364 low-income families participating in ADD had accumulated $36,481,498 (including matching funds) as of December 2001. Monthly deposits typically ranged from $30-$75 per month. Also, research summarized by the Center for Social Development (CSD) demonstrates many beneficial aspects of assets..."