Baby Bonds in UK

Max Sawicky sawicky at bellatlantic.net
Sat Apr 28 16:49:35 PDT 2001


I don't think these measures should be understood as making everyone a capitalist.

Being a capitalist means having power, not just money. An equal distribution of wealth would mitigate against concentrated power.

Of course we're not talking about an equal distribution, but an equalizing distribution (and not a very large one). The better way to see this as providing a modicum of fairness to give every citizen a better start in life. Hence you can look forward to having enough money after secondary school to choose among better choices -- go on to college, start a business, or just let your stake grow and ensure you a decent retirement. If you made the mistake of having a child at a young age, a stake available at age 18 would also give you better choices.

The funny thing, and I don't mean funny ha-ha, is that these ideas drive the Washington advocates nuts, since giving away cash means less dough for their favorite programs (an exception is Childrens Defense Fund and a few others, which are not against giving some people cash). That's also why it's so hard for some people to contemplate a progressive tax cut.

mbs


>
> If it got every citizen a capitalist, it could put more teeth into the
> Financial Services Agency, which Brown set up.
>



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