Alright, so here's the question: what would you do if the government gave you cash the day you turned 18? Well, discussion has been currently surrounding this question when many have proposed the policy of setting up a children's trust fund. What this entails is that when a child is born, the government puts a certain amount into that child's trust fund and it accumulates until the child is 18 and has the choice to do whatever he or she wants with it. They've already initiated something like this in the UK, and are considering something like it in the U.S. It also is used in a progressive way in which those children from lower income families get more put in to try to reduce this bifurcation we see in society today (you know the rich get richer as the poor get poorer).
So, I could see the good and the bad in this. It would be really costly to implement this policy because first of all all the money the government pays in to the trust funds and secondly because of all the costs of policing to make sure the funds are used properly. The 18 year-old could only use trust funds for particular purposes such as furthering his or her education, receiving technical training, or perhaps investing in a home a bit later in life. So enforcing this would cost a lot of money. Also, I'm sure there's a way that people could wheedle out of this rule and prove that it was necessary to get a farari.
I believe the benefits outweigh the costs, however, because this would reduce the income gap because it allows those in lower income brackets to possess assets that have before been reserved for the middle and upper classes. I also think that it would add to our national savings and promote self-improvement. But really, would you invest in education when you could get a really cool car or something like that? Well, for me the answer is yes, and I believe that you progressiveu bloggers would agree. Now we just need the rest of America to think that way.
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if i got money from the govt on my 18th bday i wouldn't be in ny n e more...i need to move away.
Where will the money come from? Maybe we can raise taxes, or cut current school budgets.
Baby bonds are one of the most outrageous ideas ever.
Not to mention that even $20,000 isn't enough to pay for one semester of college at a private University. Way to encourage more illegal immigrants to come over here and set up anchor babies.