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Baby Bonds - Federal Gov. gives $1000 for each kid at birth

Discussion in 'BBS Hangout: Debate & Discussion' started by Ubiquitin, Nov 18, 2023.

  1. Ubiquitin

    Ubiquitin Member
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    Have you heard of the plan where the government would create an investing account for a child at the same time they would get a social security number? The account would be federally funded with $1000 seed capital into the account which would be turned into an S&P 500 ETF. The money would be accessible at 18 for qualified educational expenses (20% of value) and the rest of the money would grow until age 50.

    It has bipartisan support but I think it’s short-sighted.

    The supporters justify the price tag by saying we give so much to foreign aid and it would be a rounding error.
     
    #1 Ubiquitin, Nov 18, 2023
  2. KingCheetah

    KingCheetah Atomic Playboy
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    Baby Bonds is my favorite new rapper.
     
    #2 KingCheetah, Nov 18, 2023
    Invisible Fan, Ubiquitin and Nook like this.
  3. Major

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    Regardless of the cost, the government doing forced investing of money into the stock market seems like a poor idea in general.
     
    #3 Major, Nov 19, 2023
  4. JuanValdez

    JuanValdez Member

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    Why short-sighted?
     
    #4 JuanValdez, Nov 19, 2023
  5. Space Ghost

    Space Ghost Member

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    If I am understanding this, assuming the SP x10 in 20 years, they can only pull out $2000 for college expenses?
     
    #5 Space Ghost, Nov 19, 2023
  6. Os Trigonum

    Os Trigonum Member
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    that should be good for a textbook or two in twenty years
     
    #6 Os Trigonum, Nov 19, 2023
    Invisible Fan and Space Ghost like this.
  7. Invisible Fan

    Invisible Fan Member

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    I used to feel this way, but the government's been backstopping the market as far back as the mid-90s. Any fear of corruption or meddling has been baked in and normalized.

    What could possibly go wrong...
     
    #7 Invisible Fan, Nov 19, 2023
  8. Ottomaton

    Ottomaton Member
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    I keep reading " Baby Bonds" as Berry Bonds and thought I'd fallen into some Q Anon distopian reality involving Comet Ping Pong.
     
    #8 Ottomaton, Nov 19, 2023
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