How "baby bonds" could help close the wealth gap | Darrick Hamilton
Hard work, resilience and grit lead to success, right? This narrative pervades the way we think, says economist Darrick Hamilton, but the truth is that our chances at economic security have less to do with what we do and more to do with the wealth position we're born into. Enter "baby bonds": trust accounts of up to $60,000 for every newborn, calibrated to the wealth of their family. Learn how this bold proposal could help us reduce inequality -- and give every child personal seed money for important things like going to college, buying a home or starting a business. "Without capital, inequality is locked in," Hamilton says. "When it comes to economic security, wealth is both the beginning and the end."
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So where does the money come from to fund these baby bonds?
From our pocket
The Federal Reserve Bank via the Federal Budget. Same place all other federal expenditures come from.
Sell sperm to third world countries.
@@happyflea the Federal Budget comes from people's pockets.
@zkxnkj: No it doesn't. The federal government is a currency issuer, all the money they spend is new money. Taxes only exist to reduce inflation and influence economic behaviour, the federal government doesn't spend that money.
Amends need to be made strategically. Black folks were not given a fare shot at economic stability from the beginning of time. That’s a huge problem that still affects so many today. I’m in favor of baby bonds, economic security and the contract for Black America 🇺🇸 ✊🏾!!
Reparations is better. Baby bonds is a stupid, Natalia’s coupon compare to rightfully reparations. That’s like accepting watermelon and kfc from white people as a form of payment. We must demand the full price. Give of our mother f?$!ing money now!!!!!!!!!!!!! 😎😎😎😎😎😎😎😎😞 our government to pay its debt
Smh-so many of these comments are so ignorant. TED is all about spreading ideas, and this is an interesting idea to think about. How are we supposed to mitigate the racial wealth gap? That’s not a problem you can solve with one solution, but an idea is a start to fix this large institutional problem. Glad I stumbled across this video.
hey guys you know what we should do for people who don't have a lot of money or food or resources? Give them money, I'm sure they can handle it and won't just spend it... (this comes from experience, the poorer people in my area don't save their money, they spend it, because they weren't given the advantage of parents who tell them "put that in a bank, or stock" you can see them buying expensive shoes and tvs and phones all the time.... not a good idea unless you want to throw all that money into the pockets of the rich
so you missed the bit where he said it would be for education or a health emergency ect. and that it would be a better way to spend the currently wasted social services money.
You see if we get rid of social security, the future generations won't have to pay more taxes for it. The only people who wanna keep it are the elderly who are living for far too long. Also, there will be nothing left for us by the time we reach their age anyway, we would end up working for life. Also, I hate how this guy didn't bring up Asians. And most of our economy's money is being sent to Israel for some reason. I'm trying to figure out why. If we stopped supporting Israel, we would be able to recover a lot. Sometimes it feels like some of the politicians here just plan to abandon the US once things go to crap and flee to Israel.
*The dreams and passions stored within hearts are powerful keys which can unlock a wealth of potential. John C. Maxwell*
what is the difference between this and subsidising education and businesses of those who arent financially well off?
Amo os vídeos mas cadê a tradução
The dependent tax deduction could go into this fund. Structure it like an IRA/529/etc. Allow parents some control/influence as co-trustees, since some children will try to spend it all on drugs, unless you restrict all disbursements to certain pre-approved expense categories (like 529 plans for education). Also, every job should include a mandatory 401K contribution, and this fund could be used when they don't have one set up. Finally, I would change the name from Baby Bonds to Baby Portfolio. (Baby Trust is better, but maybe Personal Trust, etc.). As you of course know, bonds should be only part of a balanced investment portfolio. I would follow (or use) a Vanguard all-in-one fund for this (based on massively diversified index funds).
*BUY HIGH* *SELL LOW*
Bohmp eet.
You mean buy low sell high.
not in the trading world
@@MonroesCorner you are gorgeous and smart lol that guy has to be trolling. Thats how cryptomarkets grow though and the elite syphon off earnings over and over from newbies that know no better. Nothing new to many.
Brilliant idea. Addresses with much higher potential to viably solve many racial and economic disparities than the old social security or early affirmative action approaches. I see this approach as more effective for foster kids and better than child tax credits. This one approach can revamp so many well intended but poorly executed social entitlement programs. And those who push the old argument that the govt fails with money should realize these trusts will likely only come to fruition as a combination of govt bonds and privately managed portfolios, likely a hybrid model. It also allows the public and private sectors to contribute additional funds as rewards for actions families take and the individual children take: adding funds for civic volunteerism, participation in ROTC, scholastic achievement, etc.. the notion that your family and community and nation are invested in you helps create a sense of being valued by and feeling responsible to your family, community, and nation. I have argued for a National conscription civil service, but I think this child trust is an even better idea.
They used to be sold to our ancestors in the form of War bonds
Finnaly a good ted talk. Ive been saying this for years. This needs to happen
The idea that someone would be more motivated to do well because they are going to get a money "transfer" later in life is silly. If you believe that, you haven't been around enough poor, irresponsible people. There are too many people who want to get disability or welfare so that they don't have to work. Too many people who are looking to get a quick payday hustle so they can sit around and eat junk food, play video games, and do drugs all day. These people are FINE AND HAPPY with a lazy life. If you told them that you were going to give them a big payout in few years, they'd just start counting down the days... They wouldn't go out and try to do better for themselves. There is honor in the concept, but it just won't work for the people who it needs to work for.
0:15 "An idear"?
an ideaR worth sharing!
Instead of welfare, all babies should be born with a minimal bond amount which the child can leverage or borrow against throughout their life for school, healthcare or other more risky things such as starting a business.
You can create a Donor Annuity Fund account and transfer Land or Real Estate to it which will create Revenue
People that win the lottery often lose it all because they don't know anything about money. Perhaps the reason people that come from money have a better chance at being wealthy is because they are taught about money for their whole life. Giving everyone a winning lottery ticket might help a couple people but will probably be mostly wasted on the majority. It might be better to spend $2 billion a year to provide and promote free financial education classes for anyone and everyone in the country; because anyone that can manage to avoid crippling debt has a much better chance of getting ahead.
i had very scarce amounts of money in my life and even though i am financially independent now i am the more better at budgeting than my friends who always had unlimited access... there is nothing about having money itself that teaches you how to use it
@@jadeeye5630 not on an individual level but perhaps on average. I didn't have much growing up (we were poor) and my parents didn't teach me good financial habits. I had to learn them on my own. Many of my more middle class friends parents taught them about money from a young age and they definitely started their young adulthood with a big advantage because of that. Through teaching myself I have managed to catch up to some of them. Other friends I grew up with that were also poor and didn't learn about money from their parents are still struggling.
@@3-E i still dont think they are connected, its more about the motivation to learn about money, a poor person might take lessons from every new income and a rich person might take lessons from the world around them... but in the same way a poor person might not care about money at all and thus not treat them with any care and a rich person can quite easily get spoilet and not care about the money because they dont see the value in giving them up
@@jadeeye5630 I'm sure both can happen but we are talking about the statistical averages and I think on average a person that grows up around more money will learn how to save it, make it and spend it more effectively (based in a large part on what they see their parents/family do) than someone that doesn't have that opportunity. I think giving people the education and skill to wield the tool (money) is more likely to have a greater impact on their lives, than just giving the tool (money) to them and hoping it works out. Think about the saying "give a man a fish..."
@@3-E that applies to any education tho. I dont really feel comfortable deciding which one is more important because I think access to education and access to resources are unrelatadly important. They are related in some ways but I don't think they should be put in a fight for attention, they should be regarded as separate entities of quality of life.
An idea, but the challenges to make this happen is enormous.
Its all a state of mind.
Millionaires Mindset and? Why does challenge deter so many people from positive change lol... what a phenomenon
Stupid idea. Ironically a good way to keep the blacks down, which is a good way to keep labor cheap. For christ sake, when will the social engineers learn it doesn't help? It's going to help stratify society even more. Offering this as a bandaid for the actual poor families at least would be moral, making into social engineering what is probably something that will backfire ain't a happy thing.
lloydgush this is a great idea. 10000 dollars would have changed my whole life at 18, i could have went to school, or just started a business out of the gate. Invest in the stockmarket. Something, to make that money flip.
@@imjustsayingtho1464 yes, but if everyone has that kind of money, then it isn't worth as much. college diplomas would either become more expensive or less worthy in the marketplace. there would be less goods to go around as well.
@@imjustsayingtho1464 So probably pointless college, or risky investment? I seriously trust more the average 18yo with starting a business than either of the other two, but unfortunately gender studies or late criptocurrency investment are the most likely result. I'm not talking about you, I'm talking about the average 18yo. Though, let's be honest, these days with online courses we are quite more able to trust them with money for education. I'm not a moronic conservative who thinks teens will spend all in prostitutes and cocaine, I know mostly will be essentials and what's left will be investments. Problem with investments is that it's basically gambling. I'm not a ranging marxist who thinks investments are something of the devil (god, education is an investment) but I know it's gambling with extra steps, problem is that we got a lot of "cassino's" around, expert in selling money pits, specially with feel good promises. (churches used to be the expert in this area. Unfortunately their appeal didn't completely die out.) When it comes to starting companies, I trust them more even with the rate of failure, because the ones who succeed will "provide" a job to the ones that fail, as if it was a global diversified investment, and the ones that fail at least will learn a goddamn lot in the process. The problem with education and stocks is that it doesn't have the same effect, and ironically both will be tried more, and the temptation to sink more money than you got is abysmal, specially as both come with way more "following the herd" mentality attached with it. And education comes with "bettering oneself" bait on top of that.
Just google the "Nordic Model". A more comprehensive version has been done for some 60 years. It's not perfect (nothing is) but its a whole lot better than the alternatives that are out there. The grand sum of taxes plus insurance and education is less than that in the USA, so It's a cheaper model too! A problem that needs to be adressed firs in America is corruption. If the money doesn't go where its supposed to. It's all for nothing. You should not be able to buy democratic power.
I'm already poor enough you think I should have to give up more to breeders who don't give a crap about the baby's there spitting out
If Zeke Elliot and Ice Cube has a baby it’d be him
What the bro is saying correct Estate Trust was always the proper way to kill the Wealth Gap,i should know i am a Founder of a Non Profit which i teach Estate Trust and Business wealth
Speak softly and carry a big stick. Money is the big stick.
He should examine the economic results of being born to a single mother with no father to share the responsibility of raising the child. It's been proven that children with a single parent struggle more than those with two parents. Divorce is also a factor. The "1%" rarely get divorced which has a huge impact on the future of the children in such marriages. Those children go on to be much more economically successful those of single parent families. Even the children of low income two parent families do better than those of single parent families. Government intervention is part of the problem with the economic rifts in our society today! Get rid of the marriage penalty for economic assistance and you'll see an in decrease in poverty and and increase in civic pride among those who have suffered under current the soul-crushing system. There was more minority home ownership in the 1930's & 1940's than today, caused in part by the government trying to help people through mismanaged bureaucracies. Less government is always better than more!
A simpler way with less chance of abuse is to provide free education (like the nordic countries) and cheap medical care or medical insurance. These things are currently functioning in the Nordic countries. It has not diminished our competitiveness but the opposite. When even the poorest can have an education, the country gets a higher portion of the people productive and all gifted people have a chance of makeing a difference, regadless of welth. Cheap medical care is important also, because even if an individual is able to escape their poor beginnings and start an education. If their family falls sick, the family's sickness should not torpedo that persons future who could make a better future for his or her self. He or she should not have to drop out to help out at home. Everyone should be able to afford proper treatment.
its harder to control smart people. half to schools there teach creationism. as outside of the box the baby bonds idea is I think its more likely than fixing education to ever eventuate.
Difficult, yes. But the fight for a better future is lost only when there is no one willing to fight for it. It's important to keep the discussion going. Though mere discussion doesn't save anyone, but a loud enough discussion makes sure the idea is heard. It seems many in America seem oblivious to the fact that there is an alternative AND it doesn't mean going to a full blown communist totalitarian state.
'Wealth and capital begats more wealth capital.' True, but more wellfare is not the answer because... Wellfare begats more wellfare. Year after year more and more people, percentage-wise, get on wellfare systems we already have in place. The government needs to spend less not more, insane logic.
So make a platform where people can 1. donate to 2. apply for their child(ren) Wanting the government to do all the work is too ineffective and slow At least show people that it can work
its already been done and doesn't work look at the Gerber program
If rather protect me kids from you and that bond
Proof plz
@@illbeinyourdreams5259 been there done that and I don't want to put my kids threw that confusing process
Sorry answered wwong comment
Wrong*
It is obvious that if you compare poor people and wealthy people you will get differences in outcome. Yes the wealthy ones should, in theory, have an easier economic outcome but that does not mean the gathering of that wealth was not earned by their parents, and their parents could have been poor. Or even middle class born to poor parents/immigrants. Bottom line is someone worked for the money therefore it was EARNED, why should others be given a free ride when EARNING gets you there, even if it takes a generation or two.
do poor kids earned it to see doors shut because of the family they are born into ? (financial insecurities, not being able to go to college, poor health, harder access to education through the social enviroment)
It's TED READ ?
"race is a bigger predictor than class" 5 minutes later "meager economic circumstances, not bad decision making..." 5 minutes later "wealth begets more wealth" so, race got nothing to do with it, right? It IS class, after all. Let's try to get a conference without obvious contradictions first, please.
He says "...race is a bigger predictor than class..." as to predict if an individual is wealthy. Not saying that race is a factor in an individuals wealth. No obvious contradictions here, I believe.
actually I think its less to do with race and more to do with some people having to many baby's then they can care for and then there not getting enough attention to there raising from the parents
Want an actual solution to these problems? Read "Discrimination and Disparities" by Thomas Sowell. Ten billion times better quality thinking through the issues than this.
@Samuel Carter Thomas Sowell is a paid hack who is scared to present his talking points to the Black community for about 3 decades now.
Lol we should trust the government with our money? Naive idea. Remember what happened with our parents' social security money? Gone.
Social security is still active isnt it?
@@coolguy2789 Yes, still active, the question is how long until it completely breaks.
Nah, we should just trust the lie that there's a solution that doesn't involve the government.
Yup.... Only trust gold silver an guns 😅😅
@@Kabatification It was never economically viable. It was broken the day it was born
This is such a good talk. We need more people thinking like this man.
A Dynasty Trust last 350 yrs and will create generational wealth
While the "trust" plans are being worked out, could we start with truly free education up to PhD?
free education in underfunded, over crowed schools with under qualifed teachers that teach kids that god made the earth a couple of years ago?
👍 👍 👍 👍 👍 👍 👍 👍 👍
I have a solution - go to school, get an education - and get a better job. Like every other American did. I worked a low paying job. SO I went to college, and increased my income - I was working full time, went to school full-time at night, took care of two babies, and worked a 3rd job on the weekends - and this this for 5 years. And you want me to give you money because you're too lazy - In your dreams.
Look, the wealth gap isn’t something that can be fixed with taking money from the rich and giving it to the poor that don’t understand money. People aren’t stagnant in the US economy.
thats not what he said
1:22 1:43
"That guy has more money than I do, and I don't think that's fair, so take some of his and give it to me."
@Noollab So you're a supporter of American slavery and Jim Crow?
@@godofthisshit He didn't say anything about American slavery and Jim Crow, why are you bringing it up?
The math doesn't make sense. If you start with 25k and grow it at a compounded rate of 2 percent a year it would take 40 years to grow to 60k
The reason we don't have " choice freedom is because our government over reaches on taxation and legislation, and he his promoting something that would increase that. Also if everyone started of there adult life with 50k or so, it would just water down the value of a dollar imagine your grocery trip costing 5x as much, and still it has more to do with biology aka intelligence on success rate, not everyone can start There own business. Or invest successfully.
Face it it's communism or bust for these people.
There are a small minority of poor people who would use an endowment as a platform. Most would just spend it. I agree that “grit and perseverance” are not sufficient to build financial stability. It also really, really helps to be smart. Very, very few people are just bumbling along living off the interest yielded by a nest egg compiled by others. Yes, some people hand down wealth, but almost all of them also hand down at least a modicum on brains. This guys is so obviously an academic.
Ice cube?
@Adrian Valadez Speak English.
I love Ted!!!
Because we all know people evolved and walked off the plains of africa with income inequality. It's not as if literally all of human civilization was built by individuals who through grit and determination became successful.,Oh wait...
America needs to be equal or it will backfire on the ones calling us clowns for presenting real solutions to real problems.
And how is that supposed to work? The government would have to heavily tax wealth in the USA, since those are the people with power those taxes are never going to happen. In fact, if the state was willing to make revolutionary adjustments to its system like this redistribution of wealth, wealth inequality wouldn't be such a problem in the first place. Such theoretical constructs are maybe valuable as tools for framing a political narrative but I fail to see how they will overcome the larger inequality problems overshadowing them and preventing solutions to be put into action.
Hi
You need to do the same for the permanently unemployed.
What about poor children and adults ? If I were in there shoes I'd be awful jealous that through no fault of my own I was born too late .
Give families school choice with vouchers. In Urban schools there are children from functional families but they are poor. Let that family and those who want to have the power to place their child in the educational environment they feel is best for their long term educational goals. I hear the buzz words such as Blacks with college degree with Whites with High School degree and the higher income the white brings in. Well with a majority of black college student choosing low paying majors guess what that will bring.
Yeah right Gerber has that head ache it doesn't work and it creates inmate and violence No not for it
People will abuse a system like this...
Boarding school is $57000 it would cover 1 year of boarding school.
Stupid idea. The UK has tried this in a few variations and scrapped it because it doesn't work. The money was better spent in other ways although they did keep a tax free, high interest child savings accounts to help parents put a small amount of money away every month.
Ye$. Its true every where...racisim is the worst thing that makes it difficult for some people to survive.....but this framing is just because of the image they have been shaped or they created it by themselves....
Great video and financial freedom is important! Always inspiring and I always find inspiration for my own channel here!
I agree. There is no question that the wealth you begin with is a help. The question is, how to implement such a thing? There is a horrific allergy in the U.S. against taxation in any form, and no immediate cure in sight.
crap crap and more crap you know full well what would happen to the money it would go the same as SSI
This is a good example of someone trying to good, but just paving the way for a disaster! Trust the government? Throw money at an will cure it? The fact the professor is down playing hard work and good morals is a red flag for me.
What he is also telling you is SELF GOVERNMENT,meaning platforms that the father was suppose to have set up prior to the child birth means Child Trust Medicaid and Medicare Trust account and you can fund a Child Trust or any trust with a Insurance Annuity
This is an interesting concept. Like giving everyone ladders of different height based on how far each person needs to climb to be on the same level as far as basic rights/survival. I think that is equity? But there will still be richer people that can outbuy certain things and make life unfair. But I would have loved $60,000 at 18 or something. Wouldn't be in debt for school and a car. A totally different life. Crazy to imagine how far people can get when they are millionaires.
The debt and car will just get more expensive. Communism does not work and inflation is real.
@@NietzscheanMan yeah those problems could be better solved in it other ways
Equity is a horrible thing that should never be considered.
@@Jacob-sb3su why's that
Where do they find these clowns?
Any college in America
Well answer us what dark hole you crawled out of. He's got numbers backing him up. What've you got,bubba?
@@brendarua01 obviously clowns think alike😜😜
Grow up clown 🤡
Does Ted Talk actually make a difference in society? Like, are their ideas legitimately used or are they just ideas to be said as a speech just to get lost in the internet?
everything starts with an idea. the point is to spread that idea untill it reaches someone with the capability to fulfil it
The wealth gap can be closed with smarter money choices. With first generation immigrants, of course, we would fully expect a wealth gap, with, say, tenth generation Americans, even in the absence of discrimination.
I have an Ideeyur.
You know my friend all you have to do is is solve your own personal problems. act on the ones that you can actually change. Come up with a plan. And then simply do it. Stop making excuses or you will simply stay right where you are. You have the energy to leave a comment on a KZhead video then you have the energy to solve your life issues and make your dreams a reality.
A major reason why minorities are disproportionately on the lower end of the wealth spectrum is the constant influx of minority migrants. It is simple minded to assume that people coming to this country for opportunity will immediately realize it upon arrival. As you acknowledge accumulating wealth is a generational process. You must accept the reality that as we continue to accept poor immigrants, whatever demographic that they represent will be dragged down in economic metrics. This is not a sign the capitalism does not provide enough opportunity, quite the opposite, the abundance of opportunity is why the poor immigrants are flooding here. This talk is nothing more than power politics masquerading as economics. That being said baby bonds for underprivileged children is a great idea. But it should be done via private charity, not the government.
and do they even realize that by accepting all of these immigrants (talking about the illegal ones) there will be less to go around for everyone else who deserves to be in that country and pays taxes.
@Super Saber there are other places they could go. and living off of other people's hard work isn't excusable.
Well said!
its more from the low end trash spitting out baby's and not caring how to pay for them then it is the migrant workers
Nice talk
great talk
Very nice!!!!
Only makes sense. Start investing in our future, through our future.😉
As someone from Finland it sounds absurd how the US, as a western country, doesn't have a system that would give everyone equal opportunities in life
The government can't even manage my Social Security correctly. You seriously believe that this will be any better? How naive but expected by a liberal professor.
"Liberal professor"? Wow. I'm not a "rightist" or an anyist. But I agree this guy's ignorance is is like a 1%er's wet dream. How did he even get on TED?
There is already a system that allows poor people to bet their money. It's called gambling and this also "could help close the wealth gap". theoretically, if all the stars alligned...
For all those who are poo-pooing this idea, do you have a better suggestion?
Feed ZEKE.
I don't know what dream world this guy lives in that he thinks that everyone is of the same intelligence and has the same motivation and ambition. If they are not taught how to manage it or invest it or have the ambition and intelligence to start their own business then it will just be grocery and gas money. Revamp our education system and then come talk to us.
1rt
*We either make ourselves miserable or we make ourselves strong. The amount of work is the same. ÷*
Adequate comment. As I say, it is all a state of mind.
This guy should be trying to close the I. Q. gap lol
Damn, you're so smart. Tell me more about how your success, in any meaningful way, approximates this man's own?
@@deaconcouric5037 Nothing about my comment suggests that it does. It's not only irrelevant, but that you jumped to that conclusion seems desperate and pathetic.
@@OneSillyWanker No. You obviously feel you are in a position to discuss statistically nuanced and largely flawed psychometric testing and discount his solutions. So, tell me tell me more about how your success, in any meaningful way, approximates this man's own? 'desperate and pathetic' sounds like a quite accurate description of your original comment, might want to edit it.
@@deaconcouric5037 I'm not discounting his solutions. And I don't have to be a genius to have read studies. And you seem to be saying I. Q. studies are flawed, yet insisting on cognitive ability as a measure of worth.
@@OneSillyWanker ' insisting on cognitive ability as a measure of worth.' I don't think cognitive ability is a measure of worth but your complete lack of acuity in comprehension is making me consider it. 'This guy should be trying to close the I. Q. gap' is literally prioritising a unilateral mechanism of measuring a multifaceted thing over this guy's ideas. You can read studies but you can't read my comments? Interesting.
هههههه ما ادري ايش يقول
I kind of agree with him, except I think a different person should put up that 60,000 dollars. Having children without first paying 60,000 dollars as a trust should be illegal and grounds for having the children taken from you. In this way, generational poverty will be stamped out. Parents are failing their children, and we shouldn't allow for that.
This presentation is based on the fallacious assumption that one's origin implies one's outcome.
more likely based on statistics. your statement suggests you base your thoughts on the individual rather than the group.
@@bobman929 There is no group. "Humanity" is a conglomeration of individuals. Increased entitlement actively encourages decreased individual industry.
+Michael Saunders thats all true but personal industry isnt necessarily a good thing. welfare is designed to keep people from certain "origins" under control and if your under someone else's control its not up to you if you succeed or not.
@@bobman929 I categorically disagree with your statement that (non-excessive) work ethic can ever be a vice. My initial arguement was against government entitlements, and to clarify, I do mean all of them.
So, I am just 10 minutes old and I already have to give the money I don't have yet to some random startup savvy who will use it to eat party and holiday travel until it's out and then they will sell their empty business and make new startup and repeat the sequence. ps.: or even worse: the govt.
$25000/18 years, about $120/month, how impossible it is for a parent to put $120 aside each month for their child?!
When you squander your government subsidies on alcohol and drugs and your too lazy to work because your planning to be a rap star, it’s real hard.
Most people in the US don’t have $300 for a emergency.
HMMM, the start of B-BBEE in America, redistributing wealth, Hmmm.
A really good indicator of how well this program would work, is the people who have won millions of dollars in the lottery. My nephew wanted to be an actor but he didn't want to give up anything to become an actor. Most of the most successful actors and actresses lived in their cars and showered at the gym for months or even years before and worked as waitresses and Waiters until something happened. One of the most popular restaurants in my town, the guy ran a hot dog stand for years until he got enough money to buy the building and open the restaurant. I don't think race religion or anything else has anything to do with this.
The idea is good, but business owns government and business does not give more than it is forced to. There is no reason though why something like this could not be started on a smaller scale though, by people who want to see change and do not have the greed of business. I know many people like this but they all too afraid of being conned to risk helping to change the system.
نللهن
Is this dude practicing to run for office in Chicago or something?
Let the public buy those baby bonds. In addition to bonds, let's let everyone sell shares of themselves. Imagine a human stock enchange for and by humans. If fact, American was founded on this idea of the value of the individual enshrined in Article 1, section 2, clause 3 of the Constitution of the United States. Only then can people have the same rights as corporations.
First
There's this thing called schools that government already finances. Why is the answer always handouts? The wealth gap is due to lack of a two parent household. It's culture. But it's a lot easier to just hand people money.
1. Graduate high school 2. Get a job -- any job 3. Don't have a child before marriage 4. Stay out of the criminal justice system Do these four things and you're pretty much guaranteed to stay out of poverty
Live on less than you make (save 15% of your money). Don't do addictive drugs. Don't get a long term illness.
Easier said than done. I didn’t do number 3 correctly but she was planned. As for Number 1. I have two degrees (ADN, BSN) and still making less than a Caucasian person who graduated high school 🏫.
There is no wealth gap. But there is a gap between the people that are smart enough and work hard enough to make the money they want, and the people that are dumb and lazy and don’t work hard but complain and want the wealth because they believe wealth is a right. Go to school, get a job, and if you feel you’re still not making enough money, DONT HAVE KIDS
wow, this is America. there is no such thing in russia
That feel when you're trying to be a compassionate capitalist but end up being even more disgusting