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Massachusetts considers trust funds for the state's poorest newborns to help 'shrink the racial wealth gap'
Fox News ^ | December 28,2023 | By Kendall Tietz

Posted on 12/28/2023 5:46:27 PM PST by Hojczyk

Massachusetts is considering trust funds, aimed at reducing the racial wealth gap, for the state's poorest newborns that the recipients would be able to access when they turn 18.

The "baby bonds" would be an at-birth publicly funded trust fund program for Massachusetts residents, to be used for college, buying a home or starting a business. The amount given to each eligible newborn would depend on their household income, although it doesn't give a maximum amount or specify who would qualify for the funds.

"Children born into households with low income (which are disproportionately households of color) are prioritized through eligibility requirements set by the state or through a progressive allocation system, with those with the lowest income receiving the largest investments," the Massachusetts state government says on its website. "This is to provide the most support to children born with the least resources, and to shrink the racial wealth gap."

(Excerpt) Read more at foxnews.com ...


TOPICS: Business/Economy; Culture/Society; Government
KEYWORDS: communism; marxism; socialism
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1 posted on 12/28/2023 5:46:27 PM PST by Hojczyk
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To: Hojczyk

WOW, this is a terrible idea.


2 posted on 12/28/2023 5:48:25 PM PST by simpson96
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To: Hojczyk

But poor white kids in South Boston can go screw themselves!


3 posted on 12/28/2023 5:48:54 PM PST by MeganC (There is nothing feminine about feminism. )
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To: Hojczyk

Get em on the dole early. Later, WIC, EITC, general relief, Medicaid, et etc etc


4 posted on 12/28/2023 5:49:01 PM PST by j.havenfarm (23 years on Free Republic, 12/22/23! More than 8,000 replies and still not shutting up!)
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To: Hojczyk

This is equity from birth to grave.


5 posted on 12/28/2023 5:49:43 PM PST by jonrick46 (Leftniks chase illusions of motherships at the end of the pier.)
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To: Hojczyk
would be able to access when they turn 18.

really?

Party Time!! A fool and his money are soon parted.

6 posted on 12/28/2023 5:49:44 PM PST by Michael.SF. (There is only one reason why I will ever vote for a Republican: Democrats)
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To: Hojczyk

Better still...why doesn’t the state arrange for children “of color” to automatically be eligible to live on Martha’s Vineyard.


7 posted on 12/28/2023 5:49:58 PM PST by Gay State Conservative (Proudly Clinging To My Guns And My Religion)
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To: Hojczyk

10,000 illegals a day coming your way... Ground zero for anchor babies.


8 posted on 12/28/2023 5:51:34 PM PST by quantim (Victory is not relative, it is absolute. )
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To: MeganC

South Boston is expensive…

..


9 posted on 12/28/2023 5:51:42 PM PST by Mears
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To: Hojczyk

Quick. Somebody send 500 busloads of “migrant families” to Massachusetts.

L


10 posted on 12/28/2023 5:51:49 PM PST by Lurker ( Peaceful coexistence with the Left is not possible. Stop pretending that it is. )
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To: Hojczyk

If the federal government did this FOR EVERYONE with the caviat that the funds could not be withdrawn until 65, were neither transferrable or inheritable, they could abolish Social Security by setting up $75,000 per person and save money


11 posted on 12/28/2023 5:52:49 PM PST by Fai Mao ( HeIOStarve the Beast and steal its food)
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To: j.havenfarm

WIC is a fantastic program..give pregnant womne and newborns all the services they want for free.

that helps for healthy newborns who dont have problems taxpayors end up paying for the child’s lifetime.

best investment ever for relative low cost


12 posted on 12/28/2023 5:53:24 PM PST by Recovering Ex-hippie (The 2020 election Trump victory determines the fate f America and Freedom.)
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To: MeganC
Oh,how behind the times you are. Southie isn't an Irish slum anymore.It's been thoroughly gentrified. The poor Irish trash were driven out and are now in Revere,Chelsea and Winthrop.
13 posted on 12/28/2023 5:53:29 PM PST by Gay State Conservative (Proudly Clinging To My Guns And My Religion)
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To: Hojczyk

Sounds like a decent idea...for a charity, with ONLY voluntary donations.

All the rich Leftists can donate to their hearts’ content.

But I guarantee very few would.


14 posted on 12/28/2023 5:53:41 PM PST by Eccl 10:2 (Prov 3:5 --- "Trust in the Lord with all your heart, and lean not on your own understanding")
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To: Hojczyk

So they’re going to incentivize even more baby mama to have even more kids with a high probability of turning into aspiring rapper thugs.

Another entitlement program which once created, will only grow.


15 posted on 12/28/2023 5:53:42 PM PST by aquila48 (Do not let them make you "care" ! Guilting you is how they control you. )
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To: Gay State Conservative

Plenty of Portuguese on the Vineyard and they are considered to be people of color by some .


16 posted on 12/28/2023 5:54:32 PM PST by Mears
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To: Hojczyk

Here’s my take. This program assumes that investments will grow exponentially over the next 25 years. But it does not take into account that by removing capital from the system and taking it from producers to share with consumers, that the future may not mirror the past. In other words, this is a wealth sharing scheme, and such schemes inevitably change the dynamics of the system by taking from producers and giving, gratis, to consumers. Naturally, this will place a larger tax burden on the producers, and remove certain incentives from the non-producing sectors of society. Would it work? I have my doubts.


17 posted on 12/28/2023 5:54:37 PM PST by fhayek
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To: Gay State Conservative

I guess so. Was there as a kid and it was a ghetto.


18 posted on 12/28/2023 5:54:39 PM PST by MeganC (There is nothing feminine about feminism. )
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To: Hojczyk

What could possibly go wrong?


19 posted on 12/28/2023 5:56:39 PM PST by No Party Affiliation
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To: Eccl 10:2

So glad I no longer pay taxes in that Godfosaken state


20 posted on 12/28/2023 5:58:28 PM PST by nhbob1
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