All posts tagged "Trump Accounts"

A quiet change to President Donald Trump's namesake savings program for children amounts to a gift for billionaires, according to an economic analyst.

In an article for The Bulwark on Thursday, economics columnist Catherine Rampell said the Trump administration now allows wealthy donors to stock Trump Accounts with shares of individual companies, which families have no way to turn down. In effect, "our president is helping rich donors offload overvalued stocks onto children, who are forced to hold the stocks for five years whether they want to or not."

Trump Accounts were created by last year's "One Big Beautiful Bill," which set up tax-deferred savings for every American child and seeded newborns' accounts with $1,000 in federal money. The Trump administration recently auto-enrolled every eligible child, pushing participation past 70 million....

President Donald Trump appeared to have a new look on Wednesday — and onlookers definitely noticed — pointing out a possible new wig.

Trump was speaking at an event touting his Trump accounts at Red Rock Casino Resort Spa in Las Vegas when social media users pointed out how his hair looked different from recent days.

Journalist Aaron Rupar pointed out the potential change and shared video from the event....

A defensive President Donald Trump on Wednesday declared American children owed him gratitude for his leadership.

The commander-in-chief's typically rambling and grammatically ambiguous Truth Social post claimed credit for a new $250 million investment in Trump Accounts, the government-run savings accounts for kids that Sen. Ted Cruz (R-TX) praises as a pathway to privatizing Social Security.

"My Policies are WORKING, and working 'BIG,'" Trump wrote. "Our Country is doing far better than any country, anywhere in the World." ...

President Donald Trump's plan to debut Trump Accounts is a test that could likely disappoint, The Atlantic reported on Thursday.

Michael and Susan Dell announced last week that they would give $6.25 billion to millions of American children, adding $250 for each government-run savings account. The idea sets up potential retirement accounts for kids, which sounds great in theory, but could prove not as generous as it's been touted.

"President Donald Trump and his supporters are billing Trump Accounts as a vehicle to set the next generation 'on a course for prosperity' and transform the lives of low-income and working-class people. In reality, the program is an interesting yet modest experiment in giving American children a stake in the stock market. Trump Accounts, in other words, are perfectly Trumpian down to the name, in that they deliver a lot of sizzle but not much steak," The Atlantic reported. ...