Nearly all stock market wealth in this country is now owned by the super rich. The wealthiest 10% hold about 93% of all household stock market wealth in this country, Axios reported recently—a record high.

The Institute for Policy Studies analyzed Fed data and found that the lion’s share of these gains went to the richest 1% alone. This elite group owns 54% of public equity markets, up from 40% in 2002.

The bottom half of the country? They own just 1%.

How do we boost the wealth ownership of the bottom half of households? One bold solution is to establish children’s savings accounts, also known as “Baby Bonds.”

There’s been a lot of chatter about the “democratization” of the public stock market. The Fed estimates that 58% of U.S. households have some money in the stock market, mostly through retirement funds like IRAs and mutual funds.

But that hype is missing a key trend: Nearly all that wealth is controlled by the wealthiest 10% of us. As Gillian Tett observed in theFinancial Times, “If nothing else, these rising concentrations merit far more public debate, since they challenge America’s self-image of its political economy and financial democracy.”

How do we boost the wealth ownership of the bottom half of households? One bold solution is to establish children’s savings accounts, also known as “Baby Bonds.”

Senator Cory Booker and Representative Ayanna Pressley have introduced the American Opportunity Act, a federal baby bond bill. Under this proposal, children would be provided with a $1,000 savings account at birth, with annual contributions up to $2,000, depending on........

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