This proposal would give an average of $20,000 to every baby born in the U.S.
Two economists have a proposal that they say would help to lessen income inequality in the United States: Give every baby thousands of dollars when they’re born.
The proposal was presented by Darrick Hamilton of the New School and William Darity of Duke University at a conference held last weekend by the American Economic Association.
Hamilton said by email that the proposal envisions giving babies born in the U.S. an average of $20,000 — and up to as much as $60,000 — that can be accessed once they turn 18. The money would be managed by the federal government and would be invested throughout childhood, to be used in adulthood for asset-building endeavors like purchasing a home, starting a business or financing a college education.
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