Sen. Mitt Romney (R–Utah) recently introduced a universal child allowance in an effort to reform federal welfare programs. That goal is worthy, but his means would be counterproductive. For all intents and purposes, he's proposing a kid-centric version of entrepreneur and aspiring politician Andrew Yang's "basic income." According to Romney's summary of his own plan, "The Family Security Act would provide a monthly cash benefit for families, amounting to $350 a month for each young child, and $250 a month for each school-aged child." To his credit, the senator's new proposed entitlement wouldn't be unfunded. Romney would "pay for" the...