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Cory Booker Baby Bonds proposal to reduce the racial wealth gap for young adults
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[QUOTE]Originally posted by Ase: [QB] [QUOTE] It’s a pretty stark divide: Zewde estimates that in 2015, the median white person aged 18 to 25 had a net worth of $46,000. The median black person, by contrast, had a median net worth of $2,900. That’s a ratio of 15.9: White young people were nearly 16 times richer than their black counterparts.[/QUOTE]Median wealth between 18-25 year olds may be that high, but when factoring older whites, that wealth gap more than doubles. Inevitably, the wealth of older whites will be transferred to whites presently 18-25. While his plan might offer some relief, it would not almost close the wealth gap. It sounds like they assume the money older whites have will just disappear and that only the wealth younger whites have will remain. [/QB][/QUOTE]
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