Dems propose 'baby bonds' to close the racial wealth gap: 'Black lives and Black wealth matter'

[mystery-ak]

 February 16, 2023 10:19am EST
Dems propose 'baby bonds' to close the racial wealth gap: 'Black lives and Black wealth matter'
Democrats propose higher estate taxes to pay for their plan to close the racial wealth gap

By Peter Kasperowicz | Fox News

House and Senate Democrats this week proposed a bill that would instruct the federal government to give anyone born in the U.S. after 2005 a $1,000 "seed savings account," and then make contributions to that account until they are 18 — a plan that sponsors say is aimed at closing America’s "racial wealth gap."

If enacted into law, the bill would transfer billions of dollars in wealth from high-income families to low-income families, as it would fund the program by significantly increasing estate tax revenues.

The "baby bonds" bill, from Sen. Cory Booker, D-N.J., and Rep. Ayanna Pressley, D-Mass., would give children up to $2,000 a year in the lowest income families, an amount that would drop as families earn more. If a family were to make more than 500% of the federal poverty level, their kids would only receive the initial $1,000 payment.

They estimate that children in the poorest families would have $46,000 to use for school or buying a home by the time they turn 18, and Booker said in a statement that the plan is explicitly aimed at fixing "wealth inequality."

more
https://www.foxnews.com/politics/dems-propose-baby-bonds-close-racial-wealth-gap-black-lives-black-wealth-matter

   

[Kamaji]

[berdie]

Another vote buying project?

[Smokin Joe]

Does this racist scam include "Native Americans", Latino children, or just black kids?

How black is black? Does octaroon count?

It's not only BS, but a nightmare.

[Fishrrman]

No.

The answer is, "No!"

[Idiot]

The first step towards reparations.`

[GtHawk]

The "baby bonds" bill, from Sen. Cory Booker, D-N.J., and Rep. Ayanna Pressley, D-Mass., would give children up to $2,000 a year in the lowest income families, an amount that would drop as families earn more. If a family were to make more than 500% of the federal poverty level, their kids would only receive the initial $1,000 payment.

Geez, does anyone believe that the vast majority of the people whose vote their buying is going to give up $2000 grand per kid per year? Just one more incentive for welfare mommies to squirt out as many friggin paychecks as possible. I guess the democraps are worried that they may not keep the Black vote for the 200 years LBJ thought they would so they are looking to add insurance and buy the Hispanic vote too!

[Smokin Joe]

When I was a kid, we bought 'savings stamps'. When you got your booklet full, you could use it to get a Series E Savings Bond.

Why not reinstate that sort of program and let them decide how much they want to put toward their or their kids futures. We had to pay for our lunches, too, so they are already that far ahead.

[Kamaji]

When I was a kid, we bought 'savings stamps'. When you got your booklet full, you could use it to get a Series E Savings Bond.

Why not reinstate that sort of program and let them decide how much they want to put toward their or their kids futures. We had to pay for our lunches, too, so they are already that far ahead.

Because they don't want the beneficiaries of these bonds paying for them - they want you and I, and every other productive American, to pay for them.

[goatprairie]

If people aren’t taught how to manage money, the vast majority of the recipients aka ignorati will waste the money they get within a year.
They will be just as indigent and reliant on gov. as they were before they received their ill-gotten gains.