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 ...
WOW, this is a terrible idea.
But poor white kids in South Boston can go screw themselves!
Get em on the dole early. Later, WIC, EITC, general relief, Medicaid, et etc etc
This is equity from birth to grave.
really?
Party Time!! A fool and his money are soon parted.
Better still...why doesn’t the state arrange for children “of color” to automatically be eligible to live on Martha’s Vineyard.
10,000 illegals a day coming your way... Ground zero for anchor babies.
South Boston is expensive…
..
Quick. Somebody send 500 busloads of “migrant families” to Massachusetts.
L
If the federal government did this FOR EVERYONE with the caviat that the funds could not be withdrawn until 65, were neither transferrable or inheritable, they could abolish Social Security by setting up $75,000 per person and save money
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
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.
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.
Plenty of Portuguese on the Vineyard and they are considered to be people of color by some .
…
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.
I guess so. Was there as a kid and it was a ghetto.
What could possibly go wrong?
So glad I no longer pay taxes in that Godfosaken state
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