Reply to "A Cheap, Race-Neutral Way to Close the Racial Wealth Gap..

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Lol. $50,000 for each poor baby. What could possibly go wrong? [/quote]

LOL 50,000 in mortgage interest deductions in only 5 years.  What could possibly go wrong?[/quote]

Well, one incentivizes a purchase of a permanent home for a family, the other incentivizes cranking out additional babies when you're poor. What am I missing?[/quote]

I actually like this idea a lot better than cash grants. (Althoufh gtfo with the cranking out babies stuff.) I’d spread it out over more years, though—the average mortgage is 15 or 30 years. So what happens when somebody buys a house in a better neighborhood, some scammer mortgage company gives them a subprime loan based on the idea that in 5 years they’ll actually have the income to pay the mortgage, and then we see mass defaults like we did on 2008? Plus, $10k a year is a lot of mortgage interest, so spreading the $50k out over more years would be ok. You’d have to address the impact this would have on house prices in medium-income neighborhoods, though, because the new competition would force these house prices up.

This, Head Start for all, better public schools, college grants, fixing the prison system and crime laws, and healthcare for all would be more targeted. After all, if the goal is wealth-building and education, why not do that explicitly?

This package would probably be more expensive, but I could get behind something that actually fixes the systemic causes of income and wealth inequality.[/quote]

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