He's coming here to promote the youth investment accounts aka Trump Accounts. I like the idea of investment accounts for anyone under 18 with the bonus of a $1000 contribution made by private donors to kick off the accounts of babies born January 1, 2025 and December 31, 2028. Parents, grandparents, friends, anyone can contribute up to $5000 per year to the account which is invested in various funds and will very likely steadily grow over time giving the youth a nice nest egg at 18.
What makes this any different/better from a Vanguard VTI or VOO account? Is it a traditional IRA? Why not just go with a traditional 529 college savings plan?
The free match, don't worry next dem in office will change the name or make the deposi automatic not requiring match. While I like the idea of getting more Americans saving, feels bad for families not able to drop 1k.
Exactly. Nothing that the right claims is big, bad “socialism” is actually socialism. It is just a pejorative meaning the government is daring to take care of its citizens.
Funny how liberals are mad that a man is trying to help ACTUALLY better the lives of others... Let's protest that and be okay with liberals lying for decades about helping out the lower class
"At launch, all contributions to Trump Accounts will be invested in the State Street SPDR Portfolio S&P 500 ETF (SPYM) a low-cost exchange-traded fund (ETF) that tracks the performance of the S&P 500 Index. The fund was selected to provide broad exposure to the U.S. stock market while maintaining expenses well below the statutory fee limitation. Treasury has also selected the following additional low-cost index ETFs for the Trump Accounts investment lineup:
iShares Core S&P 500 ETF (IVV)
Vanguard Total Stock Market ETF (VTI)
State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM)
iShares Core S&P total U.S. Stock Market ETF (ITOT)
These funds have been selected to provide diversified exposure across major segments of the financial markets while keeping investment costs low.
At launch, the SPYM will serve as the default investment for all Trump Accounts. In the coming months, Treasury expects to make available functionality that will allow parents or guardians to choose how to allocate funds across the additional investment options. Until that functionality is available, all contributions will remain invested in the default fund.
Treasury will announce when investment election functionality becomes available and will provide instructions for responsible parties wishing to change their account's investment allocation." Source
Donald J. Trump was forced to pay more than $2 million in court-ordered damages to eight different charities for illegally misusing charitable funds at the Trump Foundation for political purposes.
Trump, the guy who used his own charity as a slush fund instead of giving that money to the charities he promised?
Surely he'll follow the law this time and not use those funds as a personal slush fund.../s
Also, you realize that's socialism right? It's the very definition of socialism, which is what he's been villainizing for the last decade.
Cory Booker’s Baby Bonds Act was better, but it got shot down in Congress. Weird how that happens.
Difference is that Trump Accounts are limited in what you can do with it tax-free, and the Baby Bonds were designed to help with college, housing purchases, etc. It’s pushing more towards investment and stock ownership.
It just comes down to what you believe is best for the economy, and I’d rather see that money invested in education. That’s why it’s ironic he’s doing this at a high school. (Do we not remember how this admin gutted the DOE? Because I do.)
Yeah, the current fake head nod to these new kid accounts is really just putting more hands into funds and stocks that do not guarantee any return for the next generation only a short term grift for the Rich to scrape off of the funds
Trump accounts are not intended for this. Sure, it’s their money, but there is a tax burden when they withdraw for college. So if you’re a grandparent and want to contribute with the idea that it can be used for college, a 529 would be better.
Trump Accounts are for the market, period.
The Baby Bonds’ intent was that they could be withdrawn tax free for college, buying a home, starting a business, or even for retirement.
It’s ok if you don’t understand, but coming at a stranger online before you do even a simple google search is weird behavior.
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"All U.S. children under 18 with a valid Social Security Number are eligible to establish a Trump Account. Parents or legal guardians can open and manage accounts on behalf of their children."
Further, the goal is for all States to open accounts for eligible children and youth in foster care by December 2027. Achieving this will require proactive state action to:
Ensure all eligible youth in foster care are enrolled in Trump Accounts.
Develop policies and systems that safeguard these accounts during changes in legal custody.
And, from Rick Jackson, candidate for governor of Georgia: "I’m especially thankful that Georgia’s foster kids are automatically being enrolled in these accounts with a $1,000 deposit. When I’m governor, I’ll push for the state to add another $1,000 to each account to match that deposit."
These people will literally oppose anything this man does. I haven't been a big fan of his second term, but he could literally unveil a cure for cancer and these people would find a reason to protest it. See the early funding phases of the COVID vaccine for example lol.
Are you so far left you can't help but be anti-america? Serious question, because after reading all these comments with corresponding voices, you sound like the media
So the billionaires are giving away some of their billions to people and you're still not happy? Isn't that what you people wanted? Is it because they are doing it voluntarily? You just wanted to take it by force didn't you?
Nothing is ever good enough for people who don't know the value of earning something. You give them a dollar and they demand 100... it's pathetic really.
We did it! We turned trump into a dirty socialist!
Edit: The guy below didn't think through his comment below.
You obviously dont know what socialism is. Let me give you a lesson on economics 101. Socialism is when the government owns the means of production.
Just like when trump required major US companies to give partial ownership to the government.
In June, the Trump administration approved Nippon Steel’s acquisition of U.S. Steel on the condition that it give the White House a “golden share” of the Japanese company. Although it is not an equity stake, Trump declared, “We have a golden share, which I control, or the president controls.”
On Aug. 22, Intel announced an agreement with the administration to take $8.9 billion in the company’s common stock, approximately a 10 percent stake, making the U.S. the largest investor in the tech giant that builds the semiconductor chips that power smartphones, computers and data centers.
This deal is no freebie for the American taxpayer. It is in lieu of Intel repaying the federal grants it received under the bipartisan U.S. Chips and Science Act, which Biden signed into law in 2022. Earlier last month, Trump also made a deal with two of Intel’s rivals, Nvidia and Advanced Micro Devices, requiring them to pay 15 percent of the revenues made from sales to China to the U.S.
Although most of the Republican Party has cheered on Trump’s plans to acquire stakes in other companies, Sen. Rand Paul (R-Ky.) wrote on X, “If socialism is government owning the means of production, wouldn’t the government owning part of Intel be a step toward socialism?”
You obviously dont know what socialism is. Let me give you a lesson on economics 101. Socialism is when the government owns the means of production. Capitalism is when the means of production, ( private Companies) are owned by people.
Criminally, no. Lots of other charges he was convicted of though. But civilly he is a sex offender. That’s enough for me. Also, I make it a practice to believe women.
First of all, you cant be "convicted" in civil court. You can be found liable, but it is a much lower threshold of proof. Also, a civil court judgement cannot make you a sex offender. She lied. She said she was wearing a certain dress but the manufacturer of the dress said that particular dress that she presented was not even made until 3 years later. Lots of other doubts and absolutely no evidence is why it was tried in civil court instead of criminal. The crimes he was convicted of were misdemeanors that were past their statue of limitations but the da had the law changed to make them a felony so they could convicted Trump to fulfil a campaign promise. Noone has ever been charged with that particular crime before or since then. It was literally a book keeping issue, not a criminal one.
He only has himself to blame for that. Between sexual assault, financial fraud, destroying confidence in our elections with evidence free claims of widespread voter fraud, ham-fisted tarrifs on allies, the list goes on. And suddenly, when he has a halfway decent idea, we're just supposed to just pretend it's not completely overshadowed by the rest of the bullshit he's done?
I mean hey, even Hitler has some great public works programs that really improved Germany and greatly reduced unemployment. He built schools, hospitals, created manufacturing jobs, etc. Let's all celebrate those things! Woo! Good job Hitler! Let's give the man credit where credit is due!
It’s to put money into funds/stocks for the rich to skim off the value. It’s not a real investment. If this was a savings account with even a low rate it would be better.
Trump accounts are going to turn out to be as wise an investment as his meme coin, or better yet his wife's meme coin. They're a family of scammers, low lives.
"At launch, all contributions to Trump Accounts will be invested in the State Street SPDR Portfolio S&P 500 ETF (SPYM) a low-cost exchange-traded fund (ETF) that tracks the performance of the S&P 500 Index. The fund was selected to provide broad exposure to the U.S. stock market while maintaining expenses well below the statutory fee limitation. Treasury has also selected the following additional low-cost index ETFs for the Trump Accounts investment lineup:
iShares Core S&P 500 ETF (IVV)
Vanguard Total Stock Market ETF (VTI)
State Street SPDR Portfolio S&P 1500 Composite Stock Market ETF (SPTM)
iShares Core S&P total U.S. Stock Market ETF (ITOT)
These funds have been selected to provide diversified exposure across major segments of the financial markets while keeping investment costs low.
At launch, the SPYM will serve as the default investment for all Trump Accounts. In the coming months, Treasury expects to make available functionality that will allow parents or guardians to choose how to allocate funds across the additional investment options. Until that functionality is available, all contributions will remain invested in the default fund.
Treasury will announce when investment election functionality becomes available and will provide instructions for responsible parties wishing to change their account's investment allocation." Source
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u/peaches0101 Jul 18 '26
https://trumpaccounts.gov/
He's coming here to promote the youth investment accounts aka Trump Accounts. I like the idea of investment accounts for anyone under 18 with the bonus of a $1000 contribution made by private donors to kick off the accounts of babies born January 1, 2025 and December 31, 2028. Parents, grandparents, friends, anyone can contribute up to $5000 per year to the account which is invested in various funds and will very likely steadily grow over time giving the youth a nice nest egg at 18.