Create education accounts that establish a credit for every citizen at age 18 who graduates high school.

To help reduce poverty in the United States, I believe the government should open education accounts for every citizen at age 18 who graduates high school. The government would establish a credit of say $50,000 or $75,000 for these citizens. The students would then choose from approved colleges and technical and vocational schools. This money given to them (which would be adjusted annually for inflation) could be spent only on education costs. These costs could include tuition, books, and living expenses. In order to continue qualifying for the funds students would have to make specified progress in their program. This program would reduce welfare and increase people's earning power for their entire lives. Progressive taxation would make up for the costs of the education accounts.