Peter Schiff

The way this is structured is the government gives you that first thousand dollars and then you're on your own.

So it is similar to a 529 plan where, you know, it's tax advantaged money.

So you can put in, what is it, five thousand dollars a year.

And so for parents who have an extra five grand or 10 grand or 15 grand, depending on how many kids they have, they can put that in.

And that's a tremendous benefit to them.

So it's predominantly going to benefit people who are at least middle or upper middle or wealthy.

Same as with 529s.

And that is real spending.

So there's no taxes being paid on this tax advantage.

And so that is real spending.

And it's going once again to benefit people who are already comparatively privileged.

So if you care about something like, you know, reducing inequality, which I think even if you don't give a shit about inequality from like a moral perspective, I think everyone should really be very concerned about inequality from like a society surviving perspective.

Sure.

If you care about that, this is not going to do anything to solve that.

In fact, because of the structure of it, it could actually increase that level of inequality.

The other thing to point out is, you know, even with, quote unquote, just a thousand dollars going to all of all of these babies, that's still a very expensive program that costs a lot of money.

There are a lot of other things that you could do with that program, something like, you know, universal child care that would have a more broad based budget.

benefit and would go further to, you know, helping to ease the burden for people who need it the most, but still have still be a universal program.

So I have some issues with it because of, you know, the opportunity cost of what this money could otherwise go to and because of who it ultimately ends up being a somewhat regressive program because of the structure of it.

Now, again, similar to 529s, which is for people who don't know,