Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.
"Baby bonds". And they say they aren't socialists.
Bendintheriver
Member Posts: 6,045 
in Tug Tavern
Baby bonds is a new term for wealth distribution/socialism. Rats have now put together a bill that would put $1,000 (then up to $2000 every year) in the bank for every newborn black child, less to Hispanic newborns, less to whitey, and continue to fund it until they are 18 and then "wisely" give immature 18 yr. olds the money on their birthday.
The average black 18 yr. old would have $30K, latino would have $22K and whitey would have $11K.
Did I mention that this bill is retroactive to anyone born after 2005?
This of course would be paid in full by drastically increasing the estate and inheritance taxes of whitey, who the authors brazenly say are the reasons for all of the minority problems.
The authors say that we have to pass this bill "immediately" and it has been sponsored by both the rat house and senate.
Now, let me ask you all a question. Do any of you, including our resident rats, believe that 18 yr. olds who didn't have to do shit for their cash windfall are going to appreciate it and spend it on an education or invest it for retirement? How much of the billions will be spent on frivolous trinkets like cars, clothes and other income siphoning spending habits? How much on drugs, booze, partying, guns or travel?
If I hadn't read this article with my own eyes, I would never have believed that grown adults would ever call this a good idea.
Corey Booker is a fucking idiot.
The article is incredible. It reads like a parody.
https://www.foxnews.com/politics/dems-propose-baby-bonds-close-racial-wealth-gap-black-lives-black-wealth-matter
House and Senate Democrats this week proposed a bill that would instruct the federal government to give anyone born in the U.S. after 2005 a $1,000 "seed savings account," and then make contributions to that account until they are 18 — a plan that sponsors say is aimed at closing America’s "racial wealth gap."
They estimate that children in the poorest families would have $46,000 to use for school or buying a home by the time they turn 18, and Booker said in a statement that the plan is explicitly aimed at fixing "wealth inequality."
Pressley was more explicit and said the change would help "Black and brown folks."
"The racial wealth gap in America is the result of generations of precise and intentional policy violence, so we must be as intentional and as precise about advancing policies that address it head on," she said in a statement introducing the bill.
"Baby Bonds are one of the most effective tools we have for closing the racial wealth gap and breaking the cycles of poverty and trauma that have prevented Black and brown folks from thriving in this country, so it is no surprise that this idea has gained traction in states across the country."
"Black lives and Black wealth matter, which is why Congress must pass our bill without delay," she added.
The average black 18 yr. old would have $30K, latino would have $22K and whitey would have $11K.
Did I mention that this bill is retroactive to anyone born after 2005?
This of course would be paid in full by drastically increasing the estate and inheritance taxes of whitey, who the authors brazenly say are the reasons for all of the minority problems.
The authors say that we have to pass this bill "immediately" and it has been sponsored by both the rat house and senate.
Now, let me ask you all a question. Do any of you, including our resident rats, believe that 18 yr. olds who didn't have to do shit for their cash windfall are going to appreciate it and spend it on an education or invest it for retirement? How much of the billions will be spent on frivolous trinkets like cars, clothes and other income siphoning spending habits? How much on drugs, booze, partying, guns or travel?
If I hadn't read this article with my own eyes, I would never have believed that grown adults would ever call this a good idea.
Corey Booker is a fucking idiot.
The article is incredible. It reads like a parody.
https://www.foxnews.com/politics/dems-propose-baby-bonds-close-racial-wealth-gap-black-lives-black-wealth-matter
House and Senate Democrats this week proposed a bill that would instruct the federal government to give anyone born in the U.S. after 2005 a $1,000 "seed savings account," and then make contributions to that account until they are 18 — a plan that sponsors say is aimed at closing America’s "racial wealth gap."
They estimate that children in the poorest families would have $46,000 to use for school or buying a home by the time they turn 18, and Booker said in a statement that the plan is explicitly aimed at fixing "wealth inequality."
Pressley was more explicit and said the change would help "Black and brown folks."
"The racial wealth gap in America is the result of generations of precise and intentional policy violence, so we must be as intentional and as precise about advancing policies that address it head on," she said in a statement introducing the bill.
"Baby Bonds are one of the most effective tools we have for closing the racial wealth gap and breaking the cycles of poverty and trauma that have prevented Black and brown folks from thriving in this country, so it is no surprise that this idea has gained traction in states across the country."
"Black lives and Black wealth matter, which is why Congress must pass our bill without delay," she added.
Comments
There is virtually nothing in this bill that addresses the systemic problems in the black community. This is common sense stuff and these politicians still don't get it. They think if we just throw other people's money at the minority population they will miraculously be saved.
Too soon?
When my mother in law passed she left money to both daughters. We put my wife's share into a college savings plan. Sister in law decided to not work for 18 months and once the money ran out begged for "Just a little help" to pay for rent, car payments, etc.
Not saying that every minority kid is going to blow through $40K in two weeks- but history shows when folks get money without earning it (ie lottery winners)- they tend to spend it recklessly. My guess is many would never see it at 18 because lots of young parents will sign away the cash for $10K up front.
The smart ones did well by it, others blew through it quite quickly. That money would be to close to $500K today.
I suspect we’d see the same types of outcomes.