Sometimes a serious proposal emerges which is so stupid that it stuns me. Other times, proposals anger me. Rarely, both qualities are combined in one legislative proposal, but the California State Senate currently has such a bill, introduced with bipartisan support.The idea: give $500 to every infant born in the State of California, regardless of immigration status of the parents. The aim: supposedly to encourage habits of savings and thrift.Sen. Darrell Steinberg, a Democrat, introduced the bill along with Republican Sen. Bob Dutton. What are they smoking?How does receiving a government check encourage savings? Doesn't it encourage the expectation of further handouts? I have been a saver my entire life, and think I know something about the subject. Saving is the practice of deferring consumption from current income, and placing the funds somewhere they can grow. It is most definitely not the practice of waiting for checks to arrive from somebody else's tax payments.California cannot...(Read Full Post)