Joe Cunningham: “Another important point is that people think, well, I will be getting money back. Not so. You just do not have to send…”

“Another important point is that people think, well, I will be getting money back. Not so. You just do not have to send it to Washington, D.C. in the first place. My colleagues on the other side, many of them, believe that Washington can do the job better. Unfortunately, if you look at every department, including the Department of Defense, the Department of Education, INS, all the different departments, there is fraud, waste and abuse. For example, food stamps had over 50 percent in fraud, waste, and abuse. By not taxing individuals, they never send it here to Washington in the first place. That money stays in their pocket to pay for schools, or they can invest it, say in an education IRA. Say the day you know your child is going to be born, you set aside $2,000 to $4,000 in an education IRA, by the time that child is 16 years of age, if it was $2,000, you might think, well, that is only $32,000. No, because it is compounded, you can use that money for tutoring or for education, or if you have a child who qualifies under the individuals with Disabilities Act, you can use it for special education.”