“Baby Bonds”

March 15, 2023

Another ridiculous welfare scheme. Price tag $650 billion.

The Democrats are proposing another welfare scheme, “Baby Bonds.” Under this scheme, newborn babies would receive $1000 at birth and every year after until age 18. Babies born to low-income families could receive $2000 each year!

At age 18 the child could have $46,215 in the account. See chart above. Babies born to illegal immigrants would qualify. Baby Bonds might encourage low-income families to have more children, and to save less. Sad but true.

The progressive left wants to “narrow” the wealth gap by “giving” low-income children $46K. Allegedly, the $$$$’s must be spent on education, starting a business or buying a house. Clever!

There is a wealth gap between whites and blacks. Whites typically live in 2 income families, have better education, save, and invest their money. Blacks’ income is lower per household. There is not a wealth gap between Asians and whites.

Blacks need to embrace child education starting at age 3-4 and continuing through college or trade school. It is unacceptable to have poor performing schools in Black neighborhoods, especially in large cities. Use federal $$$’s to fix that problem. Start in Baltimore, that city has 112 poor performing schools which is 75% of the schools in the city. Disgraceful. And, that city has been run by Democrats for decades.

Education=Employment=income=wealth! There is no other way.

“Baby Bonds” would cost the taxpayers $650 billion in the first 10 years. “Free stuff never works.” A behavior and culture change are what is needed.