"These accounts are intended to operate as long-term, tax-advantaged investment vehicles or savings accounts, in which the federal government will put $1,000 per child (born during Trump's second term) to work. Via the power of compounding, the hope is that this $1,000 the government invests in our youth of today will turn out to be a much more meaningful sum 18 years (or longer) down the line,"
"Michael and Susan Dell have decided to jump aboard this bandwagon and donate an additional $6.25 billion to this effort. Their pledge is to accentuate the program Trump has announced, and is a move I think could propel other billionaires to follow suit. Let's dive into what was announced, and whether other big players such as Elon Musk could step into the game in a big way as well."
Trump Accounts for Kids places $1,000 per child born during Trump's second term into long-term, tax-advantaged investment or savings accounts to harness compounding for future education and expense needs. The government deposit is designed to grow over 18 years or longer to help cover rising education and other costs. Michael and Susan Dell pledged $6.25 billion to supplement the program with separate $250 deposits to 25 million children. The Dell funds prioritize children in lower-income communities with median household incomes below $150,000 and extend eligibility to children who might otherwise be too old for the initial $1,000. The gift aims to increase fairness across income groups and could motivate other philanthropists to contribute.
Read at 24/7 Wall St.
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