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Definitions by Tanglespeck

Cash Baby 

The younger version of a Sugar Momma or Sugar Daddy, where the person providing money and gifts in exchange for sex is actually the younger one in the relationship.

The Sugar Baby, in this instance, is the Milk Man.
"She's my little cash baby, and I'm her milk man, milking all that money..."
Cash Baby by Tanglespeck February 2, 2017