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The Atlantic: A Cheap, Race-Neutral Way to Close the Racial Wealth Gap

The Atlantic, June 29, 2020: A Cheap, Race-Neutral Way to Close the Racial Wealth Gap

What if a single, cheap, easy-to-administer, and race-neutral policy could help close the country’s chasmic racial wealth gap in less than a generation?

Reader, it exists. It is called a baby-bond program. For something like $80 billion a year—roughly 2% of the annual federal budget, less than a tenth of the annual cost of Social Security—the United States could not only end its most pernicious forms of poverty, reduce wealth inequality, improve social mobility, foster self-sufficiency among poor families, and increase family net worth en masse, but also put Black and White families on more equal footing.

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