Baby bonds could reduce ethnic wealth disparity

Truthdig -Baby bonds are federally managed accounts set up at birth for children and endowed by the government with assets that will grow over time. Neither the child nor their parents would be able to access these funds until the child reaches adulthood, at which point they could use the money to get an education, purchase a home, or start a business.

One recent study shows a baby bond program has the potential to reduce the current black-white wealth divide more than tenfold. Another shows that had a baby bond program been initiated 40 years ago, the Latinx-white wealth divide would be closed by now — and the black-white wealth divide would have shrunk by 82 percent.