A TERRIBLE, HORRIBLE, NO GOOD, VERY BAD IDEA
The NYT Op/Ed pages today are defintely living up (down) to their reputation. Ray Bashara proposes “giving” every baby born upwards of $6000.
Here’s how such a system might work in the United States. Each of the four million babies born every year would receive a deposit in an American stakeholder account. Initial deposits could range from, say, $1,000 to $6,000.
…[B]aby bonds would be restricted to higher education or technical training, a small business or a first home, or they could be put aside for retirement.
And where, exactly, does the Constitution grant Congress the power to steal money from my kids to give to the newborn down the street?