Posted on 06/03/2019 2:15:11 AM PDT by Libloather
WASHINGTON — One of the most dramatic policy initiatives by Sen. Cory Booker, D-N.J., in his presidential campaign is a plan to provide $1,000 grants to every baby born in the U.S. The money would come in the form of a “baby bond” that would be added to during childhood, on a sliding scale depending on the family’s income. Booker and his campaign released a new analysis on Friday morning that provided further details about how his plan would address “the growing wealth gap.”
“So many Americans’ lives are dictated by how much money is in their parents’ bank accounts,” Booker said in a statement accompanying the report. “Their zip code, their job, and even how much student loan debt they have will impact the lives their children and their children’s children live. The failure to act against generations of discriminatory policies and an upside-down tax code has resulted in a racial wealth gap that is only growing. We have a responsibility to put an end to this injustice, and with Baby Bonds, we have an opportunity.”
Booker announced his baby bonds legislation, the American Opportunity Accounts Act, in the Senate late last year. Since launching his presidential campaign in February, it has become one of the core elements of his platform.
(Excerpt) Read more at news.yahoo.com ...
More of our money given out freely by these scumbags
Only for illegals.
This idea is blander than his vegan diet.
So when he’s not supporting the outright slaughter of infants, he’s paying them 2k a year? Do these morons ever actually step back and take a look at the outright $h!t they spew?
Effin Socialists, you gotta hate ‘em.
Mensroom predator speaks.....
He needs to give away something tangible, something real.
And Booker should start small and build on that.
His first offer should have been something on the scale of a toaster, and then up the ante to a say a toaster over or a microwave.
That way he can keep his powder dry.
When things get really desperate, he can offer a new Chevy car or truck.
A bond is a debt.
This is a debt that will be paid off by future generations. You know: the babies who grow up and have to pay it back. Plus interest.
Baby bonds are about the future. His prospective voters don't give a damn about the future...they want sumptin NOW.
More progressive socialist wealth redistribution bull crap.
Asshole just trying to buy votes with someone else’s money. Moron.
So, a wealth transfer. As if we didn't have enough of them.
“When charity becomes legal entitlement it produces no love from the donor or gratitude from the recipient’’.- Justice Anton Scalia.
Even Otoken chastised absent fathers when he parroted what he was told white voters wanted to hear (and it worked); nobody believes that throwing money at our permanent underclass will fix their problems - including the permanent underclass itself (which is why affirmative action for higher education and jobs is also maintained).
I did not see any of those details in the article. All I see is a bunch of money being given away without any indication of where the money would come from.
The baseline starts at $4 billion per year ($1,000 per child, ~4 million births per year). But it rapidly increases, because there would be a giveaway every year until each child turns 18, such that each child would have received between $1,700 and $44,000 by age eighteen (median $15,000). And the giveaways don't end at 18, apparently, because the article mentions how much they would have at age 30. So this "program" starts expensive and rapidly inflates from there, since each year, 4 million new kids start receiving giveaways.
In all this talk of how much each kid would receive, there is no talk of how this will be funded. Will Booker blather on about taxing "the rich" who, in DemocRAT eyes, is anyone with an income above poverty level? Will the government just print money? Or will the government add to the national debt at a rate that is already almost exponential? ALl ways lead to economic depression and inflation; the second way especially fuels inflation and the third way accelerates a complete economic collapse as the government can no longer guarantee its debts.
Nowhere does the article explain how this massive economy killing giveaway address the "growing wealth gap." I can help Booker here. Socialist policies cause the greatest " wealth gap" by concentrating all wealth in the hands of politicians and their cronies and discouraging production. Capitalist policies create a more normal distribution of wealth by encouraging everyone to be productive and contribute to the economy. Extreme poverty cannot be addressed by giving away ever more money; it has to be addressed through policies that encourage people to develop productive skills. Endless welfare discourages productivity by removing any incentive to do better.
They will probably have a negative return as most of them are sold for crack.
I’d rather see Gary U.S. Bonds at around 0245.
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