New Jersey Proposes First-Ever $1,000 ‘Baby Bond’ To Fight Inequality

Forbes.com ^ | August 25, 2020 | Alison Durkee

[Steven Scharf]

Maine already does this with a college acct.

The Alfond Scholarship Foundation awards the $500 Alfond Grant to every baby born a Maine resident since January 1, 2013.1 Alfond Grant recipients can use their Alfond Grant to open a NextGen 529 account without making an initial contribution.

New for 2020- Alfond Grant recipients now eligible for the Initial Matching Grant! Open an account and make a contribution of $25 by December 31, 2020 and receive a $100 Initial Matching Grant!

[cymbeline]

Did Jesus say something to the effect, better to teach someone how to fish than give them a fish?

[PGR88]

the $1,000 bond would amount to approximately $1,270 with interest after 18 years;

And they way leftist governors and legislators spend money, it will be worth about a 4 person bucket of KFC at that time.

[Chgogal]

What does Planned Parenthood have to say about this?

[Theoria]

Nuts. If your gonna do it, put it in VTSAX and leave it alone for 18 years.

[heartwood]

Second that. Actually there are a lot of married couples I wish we could help afford children - the deserving poor to be quaint and judgmental - what they need are safe neighborhoods and decent schools. That is expensive in NJ where the only reliable way to get away from the dysfunctional is to price them out.

[heartwood]

Did Jesus say something to the effect, better to teach someone how to fish than give them a fish?

_______________

Nope, Jesus gave people fishes. And loaves. And made some fishermen fishers of men.

Paul said, if you don’t work, you don’t eat, paraphrasing.

[VeniVidiVici]

This is awesome!! EVERY illegal in the US will FLOCK to New Jersey!

[blueunicorn6]

Very good.

Thanks.

[Sooth2222]

The New York Times projects that, based on bond rates, the $1,000 bond would amount to approximately $1,270 with interest after 18 years

In 18 years, a the rate that the Fed is printing money, $1,270 might buy a Happy Meal. (If we are lucky.)

(And I thought New Jersey was, for all intents and purposes, bankrupt? Is this some sort of Goldman-Sachs sponsored Ponzi scheme?)

[Sooth2222]

And NJ would "fight inequality" a lot more if the NJ public schools weren't so dysfunctional.

If the NJ public school grads could understand math and science and write a coherent sentence, their color would be of no significance at all.

[DUMBGRUNT]

Starting @1k adding $83/month for 67 years=
About 1.4 million at 7%.
But maybe 200k after an average of 2.9% inflation.

https://www.bankrate.com/calculators/savings/save-million-calculator.aspx

[dirtymac]

So Phil doesn’t believe that black kids can achieve anything with his assistance. If left alone with big brother intervention all of the black kids can do very well in todays society but not when they are looking for hand outs and victimhood.

[tech_rjmarce1]

“Government endorsed racism paid for my white tax payers.

JoMa”

Now, come on. This is jsut future reparations for having been born in a Sh*thole state.

I’m allowed to say that since I was born there. Hmmmm.

[Secret Agent Man]

that will come

[ronnie raygun]

Any which way to disguise reparations

[Wuli]

Give the $1,000 to the kids parents to defray the cost of a school of the parents choice that they are allowed to send their kid to.