So, socialism is okay now as long as Trump can put his name on it. And it’s directed mostly to the well-off
WendySteeplechase on
So a kid turns 18 and he has access to the account? He can spend it on a weekend partying? How does that help the parents?
rickbb80 on
How is this any different than any other savings accounts? Oh wait Trump family will control, (embezzle), it. I forgot.
blueisthecolor13 on
Those kids will never see that money. Guarantee.
BlueMan-HD on
Open a 529 or a UTMA instead of this bs, gifts are tax excluded up to annual contribution limits
UnusedTimeout on
Because the money is locked, it gives other holders of the same stocks leverage to either sell at inflated prices or hold at inflated prices and borrow using their portfolios as collateral. It’s long term pump and dump
JonColeman80 on
It’s also going to vanish. Just like the money from the Trumps’ non profit, Trump university, Trump phone, Trump watch, Trump EFTs, etc.
kainckles on
Annnnnd it’s gone
seriousbangs on
More importantly it gives Wall Street billions of extra cash to play with.
GonzoTheGreat22 on
So… 529 plans with bonus socialism from the anti socialism crowd. And a little name change for fascism sake.
Gotcha
HairyDadBear on
I read the details of this and I’m not sure how is this much different from other stuff we have. This is just marketing and a potential scam like many things with Trumps name on it.
Jaydamic on
“Shares in America’s success”
Is that what’s happening?
Select_Exchange_5059 on
Well, it’s his right? Has his name on it.
/s kind of
Fallen_Jalter on
Didn’t Kamala want to give much much more?
QQBearsHijacker on
The enshitification of our government services continue
AsherTheFrost on
So he’s invented a shittier version of the Gerber kids account?
WiWook on
So this is how they are going to prove ‘PRIVATIZED social Security ‘ works.
also should lead to a nice short term bump to the stock market.
“Just put money into a Student Savings Account Every year.”
“To lower your taxable income, contribute more to your 401k”
and my personal favorite:
“You’re making good money now.” – (after I got to a new job that paid a whopping 100 bucks more a week)
to wit, I’ll always say:
**If I had extra money to save/put away/etc I wouldn’t be living paycheck to paycheck for the last 20 fucking years!**
Crusoebear on
NOTE how anything he does that is even remotely beneficial to anyone that isn’t in the top 1% or a Mega-Corporation ALWAYS, ALWAYS has an expiration date that conveniently coincides with the end of his term in office. Because that might make someone else look good & god forbid that might be a democrat.
If it’s a genuinely good thing to do – why have it expire in 2028?
Tiny-Version743 on
That money is going straight into his pocket….
Alexandratta on
>Additionally, the federal government will make a one-time $1,000 pilot program contribution to the Trump Account of each eligible child for whom an election is made, who is a U.S. citizen and who is born on or after Jan. 1, 2025, through Dec. 31, 2028.
The funds in Trump Accounts must be invested in certain mutual funds or exchange-traded funds that track the S&P 500 or another index of primarily American equities.
Plan with a clear sun-setting process, with a trash contribution to start.
Also, the fact he has to put his fucking name on everything…
vibes86 on
We had these same sorts of accounts under the ARRA in 2009-2012 ish. Obama had the class to not put his names on them though.
Qualifying charitable organizations* that is a funny little qualifier. I wonder who would use that the most?
Deathanddisco041 on
Can we please have healthcare for fucks sake
bluebird-1515 on
Can’t we already do this for our kids? We’ve had a 529 and CD’s. Is there anything “better” in a TrumpAccount? (You can guess my hunch.)
Tentonham on
What percentage of the contributions does he get?
Reddit-SFW on
Charitable organizations may make additional contributions? Hrmmmmm….
HarryDave85 on
This is a blatant attempt to look like he’s helping working class people, while actually helping the upper class, and dodge the fact that costs aren’t coming down.
I’ve been waiting all day for my conservative cousin to text me this as an example of how wonderful the president is.
JupiterInTheSky on
Certainly not a rig pull. Trump would *never* do that!
zRustyShackleford on
So a 529 with a $1,000 government seed?
Ambrosia_the_Greek on
So, nonprofit organizations and foreign governments can contribute to this accounts with no restrictions??
That sounds great for families with the right connections (who can afford to play to pay), but I fail to see how this would help everyday Americans care for their families.
More than anything, it seems that there’s a huge potential for corruption…as if we should be surprised at this point.
Besides, what the hell is $1000 supposed to do – that’s nothing!
37 Comments
https://preview.redd.it/aiama8yfj15g1.jpeg?width=1279&format=pjpg&auto=webp&s=bca7300ff7fbf202bf9ec9a007eae99c291ed96a
Our army manned the air, it rammed the ramparts, it took over the airports. ~ DJT~~
Wait, they were serious? I thought that was a joke…
You can already give anyone, including your kids, $19,000 a year tax free.
What are the odds of someone just ransacking that entire thing before they bug out?
https://preview.redd.it/why9vh2ul15g1.jpeg?width=960&format=pjpg&auto=webp&s=1e4dfa7cd51842278e6fb5e0b25ad994160ae08a
Nope.
So, socialism is okay now as long as Trump can put his name on it. And it’s directed mostly to the well-off
So a kid turns 18 and he has access to the account? He can spend it on a weekend partying? How does that help the parents?
How is this any different than any other savings accounts? Oh wait Trump family will control, (embezzle), it. I forgot.
Those kids will never see that money. Guarantee.
Open a 529 or a UTMA instead of this bs, gifts are tax excluded up to annual contribution limits
Because the money is locked, it gives other holders of the same stocks leverage to either sell at inflated prices or hold at inflated prices and borrow using their portfolios as collateral. It’s long term pump and dump
It’s also going to vanish. Just like the money from the Trumps’ non profit, Trump university, Trump phone, Trump watch, Trump EFTs, etc.
Annnnnd it’s gone
More importantly it gives Wall Street billions of extra cash to play with.
So… 529 plans with bonus socialism from the anti socialism crowd. And a little name change for fascism sake.
Gotcha
I read the details of this and I’m not sure how is this much different from other stuff we have. This is just marketing and a potential scam like many things with Trumps name on it.
“Shares in America’s success”
Is that what’s happening?
Well, it’s his right? Has his name on it.
/s kind of
Didn’t Kamala want to give much much more?
The enshitification of our government services continue
So he’s invented a shittier version of the Gerber kids account?
So this is how they are going to prove ‘PRIVATIZED social Security ‘ works.
also should lead to a nice short term bump to the stock market.
This is right up there with this old adage:
“Why don’t you buy a new phone?”
[https://www.youtube.com/watch?v=hpQQohcHk9Q](https://www.youtube.com/watch?v=hpQQohcHk9Q)
Variations I’ve gotten on this:
“Just put money into a Student Savings Account Every year.”
“To lower your taxable income, contribute more to your 401k”
and my personal favorite:
“You’re making good money now.” – (after I got to a new job that paid a whopping 100 bucks more a week)
to wit, I’ll always say:
**If I had extra money to save/put away/etc I wouldn’t be living paycheck to paycheck for the last 20 fucking years!**
NOTE how anything he does that is even remotely beneficial to anyone that isn’t in the top 1% or a Mega-Corporation ALWAYS, ALWAYS has an expiration date that conveniently coincides with the end of his term in office. Because that might make someone else look good & god forbid that might be a democrat.
If it’s a genuinely good thing to do – why have it expire in 2028?
That money is going straight into his pocket….
>Additionally, the federal government will make a one-time $1,000 pilot program contribution to the Trump Account of each eligible child for whom an election is made, who is a U.S. citizen and who is born on or after Jan. 1, 2025, through Dec. 31, 2028.
The funds in Trump Accounts must be invested in certain mutual funds or exchange-traded funds that track the S&P 500 or another index of primarily American equities.
Plan with a clear sun-setting process, with a trash contribution to start.
Also, the fact he has to put his fucking name on everything…
We had these same sorts of accounts under the ARRA in 2009-2012 ish. Obama had the class to not put his names on them though.
https://preview.redd.it/b1dyc0s8u15g1.jpeg?width=1080&format=pjpg&auto=webp&s=67ce4f62a10fc7bec1dc1efe605243684fcd989e
Qualifying charitable organizations* that is a funny little qualifier. I wonder who would use that the most?
Can we please have healthcare for fucks sake
Can’t we already do this for our kids? We’ve had a 529 and CD’s. Is there anything “better” in a TrumpAccount? (You can guess my hunch.)
What percentage of the contributions does he get?
Charitable organizations may make additional contributions? Hrmmmmm….
This is a blatant attempt to look like he’s helping working class people, while actually helping the upper class, and dodge the fact that costs aren’t coming down.
I’ve been waiting all day for my conservative cousin to text me this as an example of how wonderful the president is.
Certainly not a rig pull. Trump would *never* do that!
So a 529 with a $1,000 government seed?
So, nonprofit organizations and foreign governments can contribute to this accounts with no restrictions??
That sounds great for families with the right connections (who can afford to play to pay), but I fail to see how this would help everyday Americans care for their families.
More than anything, it seems that there’s a huge potential for corruption…as if we should be surprised at this point.
Besides, what the hell is $1000 supposed to do – that’s nothing!