This Presidential Hopeful Has A Plan To Make Every Baby A Trust Fund Baby
“The growing conversation about inequality on the 2020 campaign trail has sparked an idea for shrinking the wealth gap: Make every baby a trust fund baby. Based on a progressive social policy concept known as ‘baby bonds,’ it’s a centerpiece of Sen. Cory Booker’s (D-N.J.) economic platform. He calls it ‘opportunity accounts’ for newborns. It involves granting every baby an interest-bearing federal account worth $1,000, which the government tops up annually, with higher amounts for low-income families. The money only becomes available when the child turns 18, but from the start, it aims to lay a path toward a more level playing field.”