During his 2019 presidential bid, Senator Cory Booker (D-N.J.) put forward some fairly radical plans. As part of his keystone message—and attempt to close the intergenerational wealth gap—he proposed that the federal government put money aside for every child born in the country, and keep adding to this fund until each of them reached adulthood. These funds became known as “baby bonds,” which, like the concept of a universal basic income , aim to address income and racial disparities in the U.S.1 In his bid for the presidency in 2019, Senator Cory Booker proposed that the federal government set […]
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