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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 the lioness,: [QB] Booker’s plan would offer all newborns $1,000, and then add up to $2,000 annually for children in low-income households. By age 18, that could add up to serious money; Booker’s team estimates that for kids from lowest-income families, the nest egg would average some $46,000. depending on parental income, kids would get up to $2,000 added to their account every year. A kid in a family of four earning over $126,000 would get nothing, but everyone under that would get an annual contribution of up to $2,000 (with the highest amount reserved for families below the poverty line). Zewde estimates it as costing roughly $82 billion a year. “It would cost less than the tax expenditure on excluding pension contributions from taxable incomes,” she writes, “or the tax expenditure on the preferential tax rates given to income from capital gains and dividends.” _______________________________________ [IMG]https://images2.imgbox.com/5a/c2/HjwkTI4R_o.png[/IMG] https://www.povertycenter.columbia.edu/news-internal/2019/ this is the claim, it doesn't solve everything but do you support it ? It seems less contentious than reparations, more potential comparatively to be considered by the powers that be in America [/QB][/QUOTE]
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