This Presidential Hopeful Has A Plan To Make Every Baby A Trust Fund Baby
Huff PostLOADING ERROR LOADING The growing conversation about inequality on the 2020 campaign trail has sparked an idea for shrinking the wealth gap: Make every baby a trust fund baby. Based on a progressive social policy concept known as “baby bonds,” it’s a centerpiece of Sen. Cory Booker’s economic platform. The fund is “intended to provide some seed capital for everyone regardless of their race, or … the economic position of the family in which they’re born,” said Darrick Hamilton, executive director of the Kirwan Institute for the Study of Race and Ethnicity, a key proponent of baby bonds. The security of baby bond, he said, “would leave them less vulnerable … and also empower them so that they can have development, because greater resources going to those communities.” A long overdue remedy? As a direct wealth transfer, baby bonds could be compared to universal basic income’s no-strings-attached cash payments ― another proposal that has gained support among progressives.
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