thus are not reparations. Cassidy et al. clarify the distinction and reiterate the need for race-specific policies to address the racial wealth gap, in order to close the shortcomings of a race-neutral program, as noted above. In 2020, Craemer et al., using a wage-based model, calculated the net per capita reparations without interest owed to American descendants of slavery, which amounted to $397,459, and with 6% interest, increases to $132.67 million per descendant of the enslaved. Darity and Kirsten Mullen, in their 2020 book From Here to Equality, cite the calculations of Craemer et al. when proposing reparations policies, including a government trust fund similar in structure to baby bonds, but with seed amounts of $250,000 for all eligible recipients, rather than just newborns. Effect on the racial wealth gap Zewde's 2019 analysis, using data from the 2015 Panel Study of Income Dynamics, projects that baby bonds which are means-tested on the basis of family wealth would reduce the median racial wealth gap from a factor of 16 to a factor of 1.4. Cassidy et al., in a 2019 article co-written with Darity, discuss the results and limitations of Zewde's analysis. Cassidy et al. cite critiques which take issue with Zewde's study design: the analysis used the median family wealth rather than the mean family wealth. Cassidy et al. argue that using the median skews the data by excluding 97% of the wealth held by the top 50% of white families, while Zewde argues that her analysis is representative of the average person. Furthermore, Cassidy et al. find that baby bonds would only increase the wealth held by black families from 9% of total white wealth to 23% of total white wealth. Cassidy et al. conclude that while additional programs (e.g. reparations) are necessary to close the racial wealth gap, baby bonds will have substantial positive impacts on education levels and home ownership for young Americans. According to The Takeaway, various studies show that the most effective way for the US government to reduce the African American wealth gap is to issue baby bonds. See also Asset-based egalitarianism Basic income Child trust fund References Public policy proposals Welfare state Social security