July 9, 2026 • 36 mins
Hour 2 of the Clay Travis and Buck Sexton Show was dominated by an extensive discussion of the newly launched Trump Accounts program, with Clay Travis and Buck Sexton arguing that the initiative could become one of the most significant financial literacy and wealth-building policies aimed at young Americans. The hosts explored how the accounts provide eligible children born between 2025 and 2028 with an initial federal contribution and allow families to make additional annual investments in stock market index funds. They framed the program as a long-term strategy to encourage ownership, savings, investing, and participation in the American economy.
A major theme throughout Hour 2 was financial literacy in America. Clay and Buck repeatedly argued that schools do a poor job teaching practical money-management skills, including investing, compound interest, mortgages, credit card debt, taxes, and wealth creation. They used real-world examples to illustrate how many Americans misunderstand basic financial concepts and emphasized that building wealth often depends more on discipline and consistency than on earning a high income. The hosts encouraged listeners to think about the process of investing over decades rather than focusing solely on immediate results, highlighting the power of compound growth and long-term participation in the stock market.
The conversation expanded into a broader discussion of generational wealth, family finance, and economic opportunity. Buck shared his intention to open a Trump Account for his son, while both hosts encouraged parents and grandparents to contribute to investment accounts instead of spending heavily on short-lived gifts. They argued that relatively modest annual contributions could grow into meaningful financial resources by the time children reach adulthood, potentially helping with college expenses, housing, entrepreneurship, or starting a career. The hosts repeatedly stressed that financial security early in life can be transformative, especially when combined with lessons about responsibility and investing.
Another key topic was the relationship between capitalism, wealth creation, and young Americans. Clay and Buck contended that many younger voters are attracted to socialist ideas because they feel financially excluded from economic success. They argued that programs encouraging stock ownership and investment could create a stronger connection between younger generations and the broader economy. According to the hosts, giving young people a stake in market growth may strengthen support for free-market principles and reduce the appeal of wealth redistribution policies.
The hosts also examined questions from listeners who challenged whether Trump Accounts represent a form of government redistribution or “socialism.” Buck pushed back against that argument, distinguishing between socialism and government policies designed to encourage private investment and ownership. Clay highlighted major private-sector contributions tied to the initiative, referencing philanthropic commitments from prominent business leaders and organizations that are helping seed accounts for children in lower-income communities. They described these partnerships as examples of private wealth supporting economic opportunity rather than expanding government control.
Throughout the hour, Clay and Buck compared Trump Accounts to existing government programs such as Social Security, arguing that younger generations would often receive greater long-term financial benefits from investing in market-based accounts than relying exclusively on traditional entitlement systems. The discussion included criticism of Social Security’s structure, concerns about future sustainability, and arguments in favor of allowing individuals to build wealth that can be passed to future generations. They suggested that investing in children’s financial futures produces stronger economic outcomes than waiting until retirement to provide government support.
The hosts also explored broader themes involving economic mobility, entrepreneurship, small-business formation, and personal responsibility. They argued that access to saved and invested capital at a young age can create opportunities that might not otherwise exist, including launching new businesses, avoiding debt, purchasing homes, or pursuing educational opportunities. The discussion repeatedly returned to the idea that financial independence begins with saving, investing, and understanding how money grows over time.
Later in Hour 2, Clay and Buck briefly touched on developments involving Iran, energy markets, and gasoline prices. They described the geopolitical situation as relatively stable compared to recent weeks, noting that energy prices and fuel costs have remained manageable despite ongoing tensions. The hosts characterized current developments as largely a continuation of trends
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Speaker 1 (00:00):
Second hour Clay end book, get's going right now? I'm
gonna go a little rogue here, quick. Got a little
rogue yesterday. I don't even know if we mentioned it.
We talked about airline stuff. That was my rogue moment.
Today I want to talk about Trump accounts, which is
actually very much in the news. So this is this
(00:21):
is something where I'm just switching it up. We'll talk
iron in a few minutes. Trust me, you kind of
know what's going on there. It's a lot of washed
rints repeat a lot of the same thing happening in
Iran that you had anticipated.
Speaker 2 (00:34):
Would be happening, or we had talked about would be happening.
Speaker 1 (00:37):
There are some updates to be sure, but we will
get there in a little bit. This situation, though, of
the Trump accounts, I think is really important. There is
right now a rising tide of class warfare, socialism, all
(00:57):
this kind of stuff, and you know, Clay, something that
would really help, I think with the Trump administration, but
also is an opportunity for many of the elite institutions
out there, particularly involved in money, to take a positive step.
(01:18):
Here would be making sure that people understand that they
have a future with a stake in the wealth generation
machinery of America. I had I told you all the
other day. I didn't understand compound interest. I didn't know
(01:41):
about these things. And that's at some level. It's just
on me, but until I got much older. But really,
when you understand those things, you see that there is
an opportunity here for the next When I see the
next generation, I mean like my son Kerry and I
(02:01):
are planning to set up a Trump account or my
son today and if you do the math on this,
even with and they're going to start out with some
money in the account from this program. Right, that's the
way this is supposed to work. I mean, I've been
learning more about this. I think it's something that everybody
(02:24):
should know. By the way, if you have a baby,
do this. If you have a kid, do this. And
I understand a lot of people are going to say, oh,
but you know, the where am I gonna get the
money or anything else. It doesn't have to be much
money at all. This is something that can have a
massive impact over the long term. Right, So Trump accounts
(02:49):
for kids, let's talk about this. Clay eligible children born
between January first, twenty twenty five and December thirty one,
twenty twenty eight, qualify for a thousand dollars or federal deposit.
Parents can contribute up to five thousand dollars annually, and
the funds are invested in stock market index funds until
(03:11):
the child turns eighteen.
Speaker 2 (03:14):
Okay, these are tax.
Speaker 1 (03:15):
Advantage investment accounts. When your kid turns eighteen, they have
access to the money certain qualifying children. By the way,
there's already an opportunity here clay for charitable and philanthropic
booths boosts. Certain qualifying children may also be eligible for
two hundred and fifty dollars deposits from foundations like the
Michael and Susan Dell Foundation, Dalio Philanthropies.
Speaker 2 (03:40):
This is what I'm talking about.
Speaker 1 (03:41):
Here is an opportunity instead of just writing another check
to some NGO somewhere that says they're going to help
child poverty and does nothing and says they're going to
train the future workforce or whatever, and really just eats
up all the funding themselves, as in a current jobs
(04:03):
program for ENGO workers play, here is an opportunity that
would bring people into their children because I think that
I think.
Speaker 2 (04:13):
This really appeals to people a whole lot more.
Speaker 1 (04:17):
Than even like Trump has gotten credit for so far.
The idea that your children are gonna start off with something,
any kind of a nest egg. When they get up,
that's when people need the money. Here's the big problem.
I'm gonna have to let the boomers know about something here.
And I love you boomers. My parents are boomers. But
(04:38):
I will have money when I'm seventy five is nice.
I will have enough money to get my first apartment,
to be out of debt, to set myself up as
an independent individual in my twenties is life changing. And
it doesn't have to be that much. We're not talking
about retirement. These are people are gonna work, play. But
(04:58):
having thirty fifty seventy thousand dollars in an a tax
advantage account that you have access to game chain.
Speaker 3 (05:08):
Yes, and one of the things that I think we
most fail at in this country. And there are a
lot of things we've talked about, historical illiteracy. Financial illiteracy
is rampant, and I sometimes will see some of these
videos that go viral.
Speaker 2 (05:23):
Did you see the one recently?
Speaker 3 (05:24):
And I'm going to dive into this, this Trump account idea,
because I do think it's so important. You see the
one that went viral recently where a woman said, Hey,
I looked at my bill and my mortgage is almost
all interest for the entire first year. Yeah, that's how
mortgages work. You are you know they amortize the mortgage.
(05:46):
So if you have a thirty year mortgage, the first ten, twelve,
fifteen years, whatever the math is, is almost all interest. You're
not paying principal at all. People don't understand it. They'd
also don't understand. We talked about this a little bit,
and if you pay attention, you should do nothing else
that we ever say on any subject.
Speaker 2 (06:04):
Listen to this carefully. If you just put one thousand.
Speaker 3 (06:08):
Dollars in S and P five hundred index funds, that's
the five hundred largest companies in America, for your kid,
for your grandkid. Time is on your side, Buck, you
talked about seventy five years old. Lots of people end
up with money when they get old, right, because you
had time on your side over the course of your life,
(06:31):
and a lot of people end up with a lot
more assets. Some of you out there are trying to
figure out, how do I give it to my kids?
How do I give it to my grandkids. It's a
great problem to have because you can help them.
Speaker 2 (06:41):
Listen to me.
Speaker 3 (06:41):
Carefully on this. Put money in young people's accounts. You
got a one year old, buck, Everybody out there that's
got a one year old, Everybody that's got a grandson
or a granddaughter that's one year old, your nieces, your nephews,
whatever it is. If you have spare money thousand dollars
down every ten years, it's going to double.
Speaker 1 (07:00):
Oh okay, changing it's more exciting than that. I mean,
that's all true, but I'm saying when you look at
what these Trump accounts can do, for example, like to
make it real for people. The government's going to give
you about if you're like me, you got a baby, okay,
we have a lot of the young parents listening, probably
more grandparents, but a lot of young parents.
Speaker 2 (07:16):
Who are listening.
Speaker 1 (07:17):
And if you have a baby right now who qualifies
for this, they give a thousand dollars okay, and then
you put in for each year and think of it
as like the kid's birthday present slash Christmas present, because honestly,
this is more important than whatever else, way more important.
Speaker 2 (07:34):
Five hundred dollars a year a month. That's a lot
of money. Five hundred dollars.
Speaker 1 (07:39):
A year if the S and P just did what
it has always done over a eighteen year, you know,
almost twenty year period of time. Your kid's got an
account waiting for them with twenty five thousand dollars in it. Okay,
that's five hundred dollars a year. That's it, five hundred
dollars a year starting with one thousand dollars with compound
(08:00):
interest ten percent something like that. S and P historical
average twenty five thousand dollars. Let me tell you, Clay,
I didn't have twenty five thousand dollars in a bank
account with my name on it until I went to
Iraq in my mid twenties. And because I had spent
no money, so I was able to bank my So
(08:22):
that's kind of a weird. But in terms of like
being able to just save it, and by the way
I spent that far too quickly, I didn't have that
probably untill I was in my mid thirties, like from
just saving from my job twenty five so I worked
for over a decade, over fifteen years. Didn't have Now
I know most Americans are like, well, I didn't even
have a thousand dollars saving in the account. Okay, make
it two hundred and fifty dollars your kid will have
(08:45):
at eighteen. And you know, by the way, you can
set this up too, So say, well, you know, you're
not touching it till you get out of college. You're
not touching it till point here being clay, this makes
a huge difference for people. And to the point about
the grandparents who are listening this, I am not a
grandparent yet, but I you know what we give, Carrie
and I give to our nieces and nephews money in
(09:07):
an account with their name on it that goes to
the S and P. Every year, smart a couple of
hundred bucks. If you can give, not saying I'm not
saying it's a ton of money, not saying it's you know,
Richie rich here diving into the vault of gold call
that's Scrooge McDuck, the vault of gold coins. But but
if you make a discipline of that, you do this,
every year, someone is gonna go off to college and
(09:30):
they'll actually have money. Someone is going to start their
first job and they can get that first apartment and
not run into debt, not become debt slaves to credit
card companies starting in their in their twenties, and a
lot of people through their thirties.
Speaker 2 (09:43):
Some people never get out of that debt. A lot
of people.
Speaker 3 (09:46):
And I want everybody to hear this because to Buck's point,
like I had a negative net worth until I was
thirty seven, thirty eight years old. I'm doing very well now, thankfully,
but I wasn't you know, mid thirties, I did not
have a lot of money. I gotta tell you, so
many people think about the end product. They say, well,
(10:08):
I don't have millions.
Speaker 2 (10:09):
You'll hear it. I guarantee if I go into my
mentions right now.
Speaker 3 (10:12):
Easy for you to say you have a million dollars
now I don't have. You're looking at the end result.
You should be looking at the process. If you only
look at in results a lot of times, you won't
start anything.
Speaker 2 (10:28):
Buck, you wrote a book.
Speaker 3 (10:30):
If you and I've written several when you wrote the
first couple of pages, if you sit there and think,
when you finish the first couple of pages, oh, I
don't have two hundred and fifty pages written yet, you
will be overwhelmed. I wrote every one of my books
the way that I wrote it is I said, I'm
gonna block two hours every afternoon Monday to Sunday, and
(10:51):
I'm gonna sit down in front of this laptop until
it's done right. Same thing with going to the gym
anything else. You have to start somewhere. And so I
get so frustrated because I hear people say, well, I
don't have them. Don't think about the end result. The
processes that you put in place lead to the results
that you want. I read a story yesterday. Buck, a
(11:12):
Costco cashier, is now a millionaire because he was making
He continued to work there a long time, thirty dollars
an hour he got up to because Costco will pay
you well if you're good, and he just invested his
money intelligently. There are so many people out there that
could end up millionaires if they just started. And if
you want your kids to one day be millionaires, teaching
(11:35):
them about compound interest, teaching them about investing, you have
to start somewhere. The government is giving you if you
have young kids or grandkids giving you, what is it,
one thousand dollars in the.
Speaker 1 (11:46):
Thousand dollars, it's just a plan and discipline. Have a plan,
have the discipline to follow the plan. By the way,
it is true of the gym, it's true of losing weight,
it's true of building wealth, it's true of building a career.
It's true of building a marriage. You know, you go
down the list. Everybody have a plan, have the discipline,
and see the plan through.
Speaker 2 (12:05):
That's it.
Speaker 1 (12:06):
And Trump getting people involved in this. So people are
starting out, Okay, the accounts are being set up. They're
starting now with a thousand dollars, a nice little chunk
of change. Also, I might add, there should be you know,
there should be a lot of setting up this infrastructure
for people. Like I said, Granny, Grandpa put fifty bucks
in the kid's Trump account. Put fifty bucks in the
Trump again, don't don't just you know, yeah, of course
(12:28):
you can get a nice little toy, get them a
stuff bear or something. You have a little extra cash,
put it in your grandkid's Trump like.
Speaker 2 (12:34):
Yeah, this is the.
Speaker 1 (12:35):
Way that you can make it easier for there to
be family. We talk about family formation, marriage, These things
are way down, there's all.
Speaker 2 (12:43):
You know.
Speaker 1 (12:43):
Housing has gotten so expensive in this country. By the way,
I legal immigrants play a large role in that. We'll
talk about that maybe later, but all of this stuff, Clay.
If people feel like they have more of a more
of skin and the gain in the actual system, I
think they'll have greater respect for what the has produced
up to this point and will produce in the future.
And this is this is the way, this is the part.
(13:06):
So I think the Trump accounts are brilliant. I think
it's one of Trump's best ideas.
Speaker 2 (13:09):
Actually, I love your idea too.
Speaker 3 (13:11):
By the way of Christmas, like, especially if you have
young kids, take half of what you would be spending
on a lot of presents that they're going to spend
very little time playing with, and put it in the
Trump account instead and just let it grow.
Speaker 1 (13:24):
Like I mean, think about this. You know when you
were when you were your twenties. When I was in
my twenties, I moved to d C. I had no money. Okay,
I had two grand I couldn't get an advance on
my salary. I started at the CIA, had no money.
I mean, you know, say two grand Okay, yeah, but
I moved to a new city. I had to get
a bed, I had to get you know, I had
done nothing, and you know, I had my car from college,
and so I had that that.
Speaker 2 (13:45):
Was an advantage. That was nice.
Speaker 1 (13:47):
But you know, use car and I get down there
and I sit there, Clay ten thousand dollars fifteen thousand dollars. Now,
I know people can spend that on a jet ski
and they can, you know. But the point is if
you also explain to somebody how long it took to
build that money, and then they have the basic financial
(14:08):
discipline and understanding of how it got there and also
why the system and playing the system the right way
is so important. You know, this is basically make we
want a next generation of Americans who understand how to
do this, how to build financial security through the system
without having to You're not picking stocks here, everybody. You're
(14:29):
you know, you're not gambling, You're not investing on risky stuff.
You're investing in the United States economy, which if that
goes bad, it's just about ammunition, water and gold and
you know, good luck, gonn matter. Yeah, yeah, So I
think it's really really important. I think it's a great
thing that Trump has done. And Grandma and Grandpa, what
are you going to get to your grand kid for
Christmas or their birthday this year? Make sure they got
(14:50):
a Trump account money in the Trump account.
Speaker 2 (14:53):
Put money in that Trump account.
Speaker 3 (14:55):
All right.
Speaker 1 (14:55):
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back in.
Speaker 3 (15:49):
Clay and Buck appreciate all of you hanging out with us.
Even Wes Moore, Democrat governor of Maryland, is giving prey
to the Trump accounts.
Speaker 2 (16:01):
I believe this is cut twenty.
Speaker 4 (16:03):
I will give this administration credit for this is that
we've had democratic presidence and Republican presidents who have not
been able to get this done, and it actually got done.
Speaker 2 (16:13):
So I actually this is actually a smart policy.
Speaker 3 (16:17):
I hate the fact that he called Trump accounts, but
that is fair.
Speaker 1 (16:24):
Yeah, but it is smart policy, and it's popular policy too,
and it's smart policy on a whole range of levels,
I have to say.
Speaker 2 (16:35):
So.
Speaker 3 (16:36):
I just think in general, Buck, there is such a
lack of basic financial comprehension in this country. It's one
of the areas where our public schools are failing teaching
kids how to spend money, what the cost of money is, heck,
how interst rates exist, what credit card interest rates are like,
(16:57):
what mortgages are like? Did you get taught to any
of that stuff when you were in school, All the
stuff that you.
Speaker 1 (17:02):
Get taught, I was busy learning the difference between a
rhombus and a square.
Speaker 3 (17:08):
This is I mean, in all seriousness, that we teach
so much that is never actually utilized in adult life
or teenage life. Basic financial literacy should be one of
the four most assets that every kid graduates from school with.
It should be a standard part of the curriculum. I'm
(17:29):
disappointed that it is not, but this is a good
way to sit down with your kids, talk about planning
for the future, investing, by the way. The best thing
about to your point, Buck, the best thing about this
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otherwise wouldn't exist. But you have to create that freedom
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Speaker 2 (18:54):
All right, welcome back into Clay and Buck. I love this.
Speaker 1 (18:56):
These guys are actually fired up about the accounts thing.
There's the thing that matters. I know it's early days,
early stage, but there have been a lot of these
accounts already opened up.
Speaker 2 (19:08):
I think a million so far. Clay, it's great.
Speaker 3 (19:10):
So the number one app I saw in America right now,
you can go on to the app store and type
in Trump account and you can open one for the
young child that you have to get this process underway.
Speaker 1 (19:24):
It goes also to what I often preach here on
the show, which is wealth versus status and how America
I truly believe, well, I don't believe America has done
nothing but actually get richer as a society for the
last well really certainly the last one hundred years will
just take that as a piece of the overall equation,
and I believe very strongly will continue to do so.
(19:47):
Wealth building here is I think about to go into overdrive,
and the problem is going to be much more about
a shared prosperity than the existence of net prosper right.
This is why people are upset right now. While the
SpaceX ipo is making like, you know, thousands of new
(20:07):
millionaires or centi millionaires and all this stuff, people are
writing in and we hear all of you, and we
read the you know, we can't get to every talkback
in every email, but Clay and I we see the
Hey guys, I'm struggling with.
Speaker 2 (20:18):
Groceries right now.
Speaker 1 (20:19):
They're too expensive, and that's real. That's true. I'm struggling
to buy that starter home right now. That's also real.
There's a lot of things that people are feeling the
pinch on when it comes to finances, and that's a
constant anxiety. And there are some policy shifts and things
that can be done and should be done. I think
Trump is trying on that, but this is a very
(20:42):
creative way to do a number of really good things.
And I think that's why we are worth us spending
the time to talk about this and think about this.
And I mean I was kind of doing Trump accounts
for my own nieces and nephews before this came about,
just because I realized. I think back to when I
could have When would twenty grand have made the biggest
(21:05):
difference in my life in my twenties, mostly by the
way I could have taken I could have taken some
of that money and put it into the people say, Buck,
why didn't you know what I bought my.
Speaker 2 (21:14):
First share of stock?
Speaker 1 (21:16):
I think I was thirty six years old, Clay, and
I bought my first share of actual stock in my name.
Speaker 2 (21:22):
I was thirty six years old.
Speaker 1 (21:24):
So that's late as late in the game, my friends,
you want to be doing this way earlier time? Is
your friend investing in the American wealth generation? And I
mean that as broadly as like the wealth generation of
America the power of are increases in technology and productivity
and everything else. That all said, some people are asking questions,
(21:47):
like podcast listener Paul here in Alabama, that's a fair question.
Speaker 2 (21:51):
Ge hit the talk.
Speaker 5 (21:52):
Back Hey, guys, how was this thousand dollars deposit for
the Trump accounts? Not the same socialism y'all complain about
every day? How it's just Trump buying popularity by giving
away money. I mean, why is it all of a
sudden good when he does it? Can y'all not think
for yourselves?
Speaker 1 (22:10):
Well, we can think for ourselves. Let's address this for
a second here. Is it socialism when you take double
not you, Paul specifically, but when anyone takes double out
of medicare what they paid into it the whole time,
because basically everybody on medicare ends up doing that?
Speaker 2 (22:26):
Is that socialism? It's interesting?
Speaker 1 (22:30):
Is it socialism that you have IRA accounts? Is it
socialism that there are tax advantages? The tax advantage, you
could say, is less revenue for the government. So is
everything that encourages any economic activity socialism? Now, socialism is
actually the government, means of government controlling the means of
(22:50):
production and.
Speaker 2 (22:53):
The distribution of resources. Right, That's what it is.
Speaker 1 (22:55):
So really what you're talking about here, Paul, it's clearly
not socialism. But is it socialists in twang or in
in vibe, in intent? Because there's a government spending well
the government spends money on a ton of things. So
now we're going to say the government is this is
the one thing the government won't be spending money, so
(23:16):
to speak, on the government spends money on It spends
money on defense, spends money a whole inter thing. The
government is not taking money from anyone on this, and
in fact, as Clay has pointed out, they're already extremely
wealthy people who are voluntarily giving a lot of money
to fund these accounts, especially in low income community gues. Sir, yeah,
I think we should speak to this because I don't
(23:37):
think it's gotten enough attention. Michael Dell and his wife
donated six point two five billion dollars of their own
money to seed two hundred and fifty million, two hundred
and fifty dollars for I believe they said twenty five
million kids that otherwise wouldn't have them money to open
(24:00):
these accounts. That's one of the most unbelievable gifts I've
ever seen in the history. Six point twenty five billion
dollar pledge two hundred and fifty dollars each up to
twenty five million kids ten and under in zip codes
where they live where the median family income is low
so they're actually and then by the way, Ray Diallo
(24:24):
and I may be mispronouncing Dallio Dalio seventy five million,
two hundred and fifty dollars each for Connecticut kids. You
guys need to be looking some of this stuff up.
There is a difference between the government encouraging beneficial acts
and by the way I looked it up, over the
course of ten years, this is going to cost one
(24:46):
point fifteen billion dollars, so one point five billion dollars
a year buck in a five trillion dollar I think
we're seven trillion dollar budget. This is virtually not on
existent and what it's designed to do. This is to
me what government should do. This is a direct investment.
(25:06):
You know this, but I think a lot of people
need to hear it. If everybody puts one thousand dollars
into their kids accounts and hopefully keeps up with the contributions,
there are young kids out there that will inherit someday
a million dollars or more just from this program being
seated that otherwise would not have existed. What you're talking about.
(25:29):
By the way, how much a Soros given to this fund?
I'm just wondering since we're going to play the class
warfare game. How much have the left wing billionaires given
to this fund? How much has Steve Jobs's widow or
the ex wife of Bezos? You know, a lot of
like climate change, you know, a lot of money given
to fancy philanthropies that who knows what they actually do.
(25:52):
How about some money for this? How about America's kids?
And you can you know, if you want to focus
also on kids from a household, then come under certain
amount whatever, Just give money to kids that sits there.
Speaker 2 (26:02):
And by the way, this is to invest This is
what government should be doing. This is the other part
of this place.
Speaker 1 (26:07):
I actually think that this is the This is an
anti socialism program. This is an anti socialism program because
it creates the basic foundation, it builds stakeholders in capitalism.
It inherently weakens the appeal of socialism because who who
are all the idiot communists these days? Clay and other
(26:29):
than Bernie Sanders, who's, by the way, a millionaire with
three houses, so he's just a fraud and an imbecile.
But who are the people that really believe all this crap?
Young people? Why do young people believe this? Because they're
saying I've had a job for five years, ten years.
I'm working my ass off. I can barely afford rent
and groceries. What's going on here? For them being told
(26:49):
somebody else, Santa Claus, someone's gonna come along. The government's
gonna pay for them. Mom, Donnie's saying, hey, I'm gonna
lower the rent. You can't pay rent. I'm gonna lower
the rent that has appeal for because they're feeling this
pain right now. If you created a situation where millions
and millions, now, it's not gonna be everybody.
Speaker 2 (27:07):
Some people are gonna go blow it. I'm not trying
to beat up.
Speaker 1 (27:09):
On jet ski owners, by the way, but I just
think that's like a really that's not a necessity. Okay,
you should be rich if you own a jet ski, right,
Jet's a fair suggestion.
Speaker 2 (27:19):
You know someone's gonna go to They're gonna go to
Disney World.
Speaker 1 (27:21):
They're gonna spend their fifteen grand, which apparently Disney World
is like one day, but you know you're gonna go
to these places and you're gonna spend Okay. Millions of people, though,
are going to be entering the workforce for the first
time or going off to college for the first time. Now,
this is obviously different than college accounts, but going off
to college to have money in their pocket to pay
for these essentials, and they will realize, why do I
(27:42):
have this money, clay because of the growth of the
American economy, the discipline to be patient and to have
the discipline to invest over time. This is this is
an anti socialism program, actually it is. It is capitalism
work looking for people in a way that they can
feel and see and taste and touch.
Speaker 3 (28:04):
A couple of other things that I think are important.
Every kid born, let's see. I just want the details
out there. Between January first, twenty twenty five and December
thirty first, twenty twenty eight is eligible with a valid
Social Security number. A lot of employers are also matching
whatever is put in among the employers twenty five hundred
(28:28):
dollars a year max. Because I think there's a five
thousand dollars annual cap that can be put in these accounts. Dell, Blackrock, Uber, Schwab, Visa,
MasterCard block and Nvidia IBM Coinbase. You can look into
whether your individual employer is doing this too. Again, I
love this, And by the way, they're betting inherently on
(28:50):
in the they're putting the money into the economy Clay,
which is also really important. I also think one of
the things that I'm most frustrated about with Social Security.
First of all, Bucket and Eye are never getting the
Social Security money that we've put in back. Right, let's
start there. So I'm going to have made I've made,
you know, whatever it is max social Security contributions for
a long time. I'm never going to get the money
(29:12):
back that I put in based on the Social Security timetables.
But you know what, the time to actually, from an
economic perspective, invest in people is not for their retirement.
It's to what Buck's talking about, it's their youth. Think
about the number of kids that you can't get this
money out till you're eighteen or older, by the way,
so it's locked in there right for to grow because
(29:35):
you want the time. Think about the number of kids Buck,
that twenty years from now are going to be starting
small businesses because they suddenly have two hundred thousand dollars
that's going to be in their name and they're graduating
from high school or they're graduating from college and they say, oh,
I've got the ability to start.
Speaker 2 (29:55):
A small business.
Speaker 3 (29:56):
Some of those small businesses will turn into bill dollar companies.
This is what we should be doing in the country
is encouraging people to invest and build growth. One of
the frustrating things, in addition to the fact that Social
Security is not gonna be there, they're gonna give me
my money back less than I put in at the
(30:17):
overall rate of inflation. So the government comes in, I
don't know, they take one hundred and eighty thousand dollars
in my money whatever it is, every year, and then
if I happen to stay alive, my wife happens to
stay alive whenever I retire, they're gonna give me a
three percent cost of living. Again, this comes to financial literacy.
People don't understand how bad of a deal that is.
(30:39):
If you had one hundred and eighty thousand dollars or
fifteen thousand dollars whatever you're putting into social Security to
invest every year, and you just bought s and P
five hundred index funds, you're gonna return around nine percent
a year. Okay, that's triple the rate that the government
is giving you when they take your money. If you
happen to still be alive. And by the way, you
know what happens much nobody talks about this. If you
(31:00):
and your spouse die in a car accident after your
kids are over eighteen, you get zero dollars in Social Security.
That money doesn't go to your doesn't go to your beneficiaries.
You're just rolling the dice that you're gonna have a
long life. Otherwise, You're social Security money doesn't descend.
Speaker 2 (31:18):
To you at all. It just vanishes.
Speaker 3 (31:20):
You gave the government all that extra money, you never
get it back, and it's a crazy policy, frankly.
Speaker 1 (31:25):
But I also I just feel like this is an
answer to why should young people believe in conservatism and
in capitalism and why should they will programs like this
will show anybody who's being honest with open eyes, they
(31:46):
will experience themselves.
Speaker 2 (31:47):
Now.
Speaker 1 (31:47):
I know this will take time and people will say
things like, well, what if the whole economy crashes, my friends,
guess what, We're all toasted anyway, So you can't That's
like saying, you know what, I shouldn't invest any money
because a media or could hit the world. Yes, that
is true, but I go with the not heat in
hitting the media or plan or you know, in the media,
you're not hitting us plan. So, Clay, I think this
(32:08):
is great. I think it's a brilliant idea. I think
it plays very well politically. Let's just say that also
that this is something that the billionaire Donald Trump and
some of the billionaire supporters of Trump are doing that
is going to help people. And back to our initial thing,
and I already do this. If you have some money
that you can afford to give to family members, and
(32:30):
I'm talking about kids and grandkids, put money into an
SMP account for them like this a tax advantage SMP
account doesn't have to.
Speaker 2 (32:36):
Be a lot.
Speaker 1 (32:37):
One hundred and fifty bucks a year, two hundred bucks
a year, you have a better year, maybe put a
little more aside. You put a thousand bucks and you
can go up to five grand. By the way, that'll
grow rich if you put I mean, I know, five
grands a lot of money. But Clay, if you put
five grand a year in this account, kids will have
a kid will have one hundreds of thousands of dollars
when they're eighteen years old in the bank.
Speaker 2 (32:55):
Correct.
Speaker 3 (32:56):
Correct again, some of you are just the stop market
can be intimidating. This is a good introduction to a
lot of kids by s and P five hundred index funds.
Don't look at it, don't worry about the price. Every
ten years it's going to double, and twenty years from
now you're going to say, hey, you know what, man,
I'm glad I listened to Klay Travis on that on
that day. All right, let's talk about super Sure. If
(33:19):
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(33:42):
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Speaker 2 (34:37):
Miss the show while you're on the go. Wind down
your day with the Daily Review podcast.
Speaker 3 (34:43):
Find it on the iHeartRadio app for wherever you get
your podcasts.
Speaker 2 (34:47):
Low dose Guess who's coming up next?
Speaker 1 (34:48):
Guys, you'll laugh, you'll cry, you'll send us emails, that's
for sure, and.
Speaker 2 (34:55):
Coulter will be with us. Oh yes, oh yes.
Speaker 1 (35:00):
She's got a great piece actually this week about the
about a big housing bill, talking about policies and things
like that.
Speaker 2 (35:07):
You know, what's the latest with Iran.
Speaker 1 (35:09):
We'll get into that in some I'd actually did a
podcast on it for the clam Buck Network last night. Details,
ways forward, all that sort of stuff. But Clay right,
it's it's kind of what it's been, which is we
blew up some stuff. We're going to talk some more.
There's still some flow through the straight of war moves.
Gas price is okay right now Washern's repeat like.
Speaker 3 (35:27):
Nothing really cu feel like it does very much feel
like groundhok day. Gas prices are basically a couple dollars
above where they were in February. They should be continuing
to come down at your local gas station, which is
frankly the thing I hear about the most. And I
noticed the other day we're back to three dollars and
twenty cents a gallon gas in my neighborhood. And I
(35:49):
understand everybody's gas prices are different, but in much of
Red State America, gas prices are back down much lower
than they have been over the past several years.
Speaker 2 (36:00):
Talk about Kay Aaron from Florida hit it heybook.
Speaker 5 (36:07):
A square is a rhombus where all the angles are equal.
Speaker 1 (36:12):
Apparently we've got some geometry teachers in the audience here.
Speaker 3 (36:16):
Eh, I'm gonna tee off on this all right. I
should start hammering this more and more. The only three
courses that I really care about. It should be taught
to everybody in high school. Basic English right, learn how
to read and write history, actual history, not America's awful history.
And basic finance. Every state in the country should have
(36:40):
basic financial literacy requirements, just like we have reading literacy.
Everybody should have to have financial literacy. Would change a
lot
Second hour Clay end book, get's going right now? I'm
gonna go a little rogue here, quick. Got a little
rogue yesterday. I don't even know if we mentioned it.
We talked about airline stuff. That was my rogue moment.
Today I want to talk about Trump accounts, which is
actually very much in the news. So this is this
(00:21):
is something where I'm just switching it up. We'll talk
iron in a few minutes. Trust me, you kind of
know what's going on there. It's a lot of washed
rints repeat a lot of the same thing happening in
Iran that you had anticipated.
Speaker 2 (00:34):
Would be happening, or we had talked about would be happening.
Speaker 1 (00:37):
There are some updates to be sure, but we will
get there in a little bit. This situation, though, of
the Trump accounts, I think is really important. There is
right now a rising tide of class warfare, socialism, all
(00:57):
this kind of stuff, and you know, Clay, something that
would really help, I think with the Trump administration, but
also is an opportunity for many of the elite institutions
out there, particularly involved in money, to take a positive step.
(01:18):
Here would be making sure that people understand that they
have a future with a stake in the wealth generation
machinery of America. I had I told you all the
other day. I didn't understand compound interest. I didn't know
(01:41):
about these things. And that's at some level. It's just
on me, but until I got much older. But really,
when you understand those things, you see that there is
an opportunity here for the next When I see the
next generation, I mean like my son Kerry and I
(02:01):
are planning to set up a Trump account or my
son today and if you do the math on this,
even with and they're going to start out with some
money in the account from this program. Right, that's the
way this is supposed to work. I mean, I've been
learning more about this. I think it's something that everybody
(02:24):
should know. By the way, if you have a baby,
do this. If you have a kid, do this. And
I understand a lot of people are going to say, oh,
but you know, the where am I gonna get the
money or anything else. It doesn't have to be much
money at all. This is something that can have a
massive impact over the long term. Right, So Trump accounts
(02:49):
for kids, let's talk about this. Clay eligible children born
between January first, twenty twenty five and December thirty one,
twenty twenty eight, qualify for a thousand dollars or federal deposit.
Parents can contribute up to five thousand dollars annually, and
the funds are invested in stock market index funds until
(03:11):
the child turns eighteen.
Speaker 2 (03:14):
Okay, these are tax.
Speaker 1 (03:15):
Advantage investment accounts. When your kid turns eighteen, they have
access to the money certain qualifying children. By the way,
there's already an opportunity here clay for charitable and philanthropic
booths boosts. Certain qualifying children may also be eligible for
two hundred and fifty dollars deposits from foundations like the
Michael and Susan Dell Foundation, Dalio Philanthropies.
Speaker 2 (03:40):
This is what I'm talking about.
Speaker 1 (03:41):
Here is an opportunity instead of just writing another check
to some NGO somewhere that says they're going to help
child poverty and does nothing and says they're going to
train the future workforce or whatever, and really just eats
up all the funding themselves, as in a current jobs
(04:03):
program for ENGO workers play, here is an opportunity that
would bring people into their children because I think that
I think.
Speaker 2 (04:13):
This really appeals to people a whole lot more.
Speaker 1 (04:17):
Than even like Trump has gotten credit for so far.
The idea that your children are gonna start off with something,
any kind of a nest egg. When they get up,
that's when people need the money. Here's the big problem.
I'm gonna have to let the boomers know about something here.
And I love you boomers. My parents are boomers. But
(04:38):
I will have money when I'm seventy five is nice.
I will have enough money to get my first apartment,
to be out of debt, to set myself up as
an independent individual in my twenties is life changing. And
it doesn't have to be that much. We're not talking
about retirement. These are people are gonna work, play. But
(04:58):
having thirty fifty seventy thousand dollars in an a tax
advantage account that you have access to game chain.
Speaker 3 (05:08):
Yes, and one of the things that I think we
most fail at in this country. And there are a
lot of things we've talked about, historical illiteracy. Financial illiteracy
is rampant, and I sometimes will see some of these
videos that go viral.
Speaker 2 (05:23):
Did you see the one recently?
Speaker 3 (05:24):
And I'm going to dive into this, this Trump account idea,
because I do think it's so important. You see the
one that went viral recently where a woman said, Hey,
I looked at my bill and my mortgage is almost
all interest for the entire first year. Yeah, that's how
mortgages work. You are you know they amortize the mortgage.
(05:46):
So if you have a thirty year mortgage, the first ten, twelve,
fifteen years, whatever the math is, is almost all interest. You're
not paying principal at all. People don't understand it. They'd
also don't understand. We talked about this a little bit,
and if you pay attention, you should do nothing else
that we ever say on any subject.
Speaker 2 (06:04):
Listen to this carefully. If you just put one thousand.
Speaker 3 (06:08):
Dollars in S and P five hundred index funds, that's
the five hundred largest companies in America, for your kid,
for your grandkid. Time is on your side, Buck, you
talked about seventy five years old. Lots of people end
up with money when they get old, right, because you
had time on your side over the course of your life,
(06:31):
and a lot of people end up with a lot
more assets. Some of you out there are trying to
figure out, how do I give it to my kids?
How do I give it to my grandkids. It's a
great problem to have because you can help them.
Speaker 2 (06:41):
Listen to me.
Speaker 3 (06:41):
Carefully on this. Put money in young people's accounts. You
got a one year old, buck, Everybody out there that's
got a one year old, Everybody that's got a grandson
or a granddaughter that's one year old, your nieces, your nephews,
whatever it is. If you have spare money thousand dollars
down every ten years, it's going to double.
Speaker 1 (07:00):
Oh okay, changing it's more exciting than that. I mean,
that's all true, but I'm saying when you look at
what these Trump accounts can do, for example, like to
make it real for people. The government's going to give
you about if you're like me, you got a baby, okay,
we have a lot of the young parents listening, probably
more grandparents, but a lot of young parents.
Speaker 2 (07:16):
Who are listening.
Speaker 1 (07:17):
And if you have a baby right now who qualifies
for this, they give a thousand dollars okay, and then
you put in for each year and think of it
as like the kid's birthday present slash Christmas present, because honestly,
this is more important than whatever else, way more important.
Speaker 2 (07:34):
Five hundred dollars a year a month. That's a lot
of money. Five hundred dollars.
Speaker 1 (07:39):
A year if the S and P just did what
it has always done over a eighteen year, you know,
almost twenty year period of time. Your kid's got an
account waiting for them with twenty five thousand dollars in it. Okay,
that's five hundred dollars a year. That's it, five hundred
dollars a year starting with one thousand dollars with compound
(08:00):
interest ten percent something like that. S and P historical
average twenty five thousand dollars. Let me tell you, Clay,
I didn't have twenty five thousand dollars in a bank
account with my name on it until I went to
Iraq in my mid twenties. And because I had spent
no money, so I was able to bank my So
(08:22):
that's kind of a weird. But in terms of like
being able to just save it, and by the way
I spent that far too quickly, I didn't have that
probably untill I was in my mid thirties, like from
just saving from my job twenty five so I worked
for over a decade, over fifteen years. Didn't have Now
I know most Americans are like, well, I didn't even
have a thousand dollars saving in the account. Okay, make
it two hundred and fifty dollars your kid will have
(08:45):
at eighteen. And you know, by the way, you can
set this up too, So say, well, you know, you're
not touching it till you get out of college. You're
not touching it till point here being clay, this makes
a huge difference for people. And to the point about
the grandparents who are listening this, I am not a
grandparent yet, but I you know what we give, Carrie
and I give to our nieces and nephews money in
(09:07):
an account with their name on it that goes to
the S and P. Every year, smart a couple of
hundred bucks. If you can give, not saying I'm not
saying it's a ton of money, not saying it's you know,
Richie rich here diving into the vault of gold call
that's Scrooge McDuck, the vault of gold coins. But but
if you make a discipline of that, you do this,
every year, someone is gonna go off to college and
(09:30):
they'll actually have money. Someone is going to start their
first job and they can get that first apartment and
not run into debt, not become debt slaves to credit
card companies starting in their in their twenties, and a
lot of people through their thirties.
Speaker 2 (09:43):
Some people never get out of that debt. A lot
of people.
Speaker 3 (09:46):
And I want everybody to hear this because to Buck's point,
like I had a negative net worth until I was
thirty seven, thirty eight years old. I'm doing very well now, thankfully,
but I wasn't you know, mid thirties, I did not
have a lot of money. I gotta tell you, so
many people think about the end product. They say, well,
(10:08):
I don't have millions.
Speaker 2 (10:09):
You'll hear it. I guarantee if I go into my
mentions right now.
Speaker 3 (10:12):
Easy for you to say you have a million dollars
now I don't have. You're looking at the end result.
You should be looking at the process. If you only
look at in results a lot of times, you won't
start anything.
Speaker 2 (10:28):
Buck, you wrote a book.
Speaker 3 (10:30):
If you and I've written several when you wrote the
first couple of pages, if you sit there and think,
when you finish the first couple of pages, oh, I
don't have two hundred and fifty pages written yet, you
will be overwhelmed. I wrote every one of my books
the way that I wrote it is I said, I'm
gonna block two hours every afternoon Monday to Sunday, and
(10:51):
I'm gonna sit down in front of this laptop until
it's done right. Same thing with going to the gym
anything else. You have to start somewhere. And so I
get so frustrated because I hear people say, well, I
don't have them. Don't think about the end result. The
processes that you put in place lead to the results
that you want. I read a story yesterday. Buck, a
(11:12):
Costco cashier, is now a millionaire because he was making
He continued to work there a long time, thirty dollars
an hour he got up to because Costco will pay
you well if you're good, and he just invested his
money intelligently. There are so many people out there that
could end up millionaires if they just started. And if
you want your kids to one day be millionaires, teaching
(11:35):
them about compound interest, teaching them about investing, you have
to start somewhere. The government is giving you if you
have young kids or grandkids giving you, what is it,
one thousand dollars in the.
Speaker 1 (11:46):
Thousand dollars, it's just a plan and discipline. Have a plan,
have the discipline to follow the plan. By the way,
it is true of the gym, it's true of losing weight,
it's true of building wealth, it's true of building a career.
It's true of building a marriage. You know, you go
down the list. Everybody have a plan, have the discipline,
and see the plan through.
Speaker 2 (12:05):
That's it.
Speaker 1 (12:06):
And Trump getting people involved in this. So people are
starting out, Okay, the accounts are being set up. They're
starting now with a thousand dollars, a nice little chunk
of change. Also, I might add, there should be you know,
there should be a lot of setting up this infrastructure
for people. Like I said, Granny, Grandpa put fifty bucks
in the kid's Trump account. Put fifty bucks in the
Trump again, don't don't just you know, yeah, of course
(12:28):
you can get a nice little toy, get them a
stuff bear or something. You have a little extra cash,
put it in your grandkid's Trump like.
Speaker 2 (12:34):
Yeah, this is the.
Speaker 1 (12:35):
Way that you can make it easier for there to
be family. We talk about family formation, marriage, These things
are way down, there's all.
Speaker 2 (12:43):
You know.
Speaker 1 (12:43):
Housing has gotten so expensive in this country. By the way,
I legal immigrants play a large role in that. We'll
talk about that maybe later, but all of this stuff, Clay.
If people feel like they have more of a more
of skin and the gain in the actual system, I
think they'll have greater respect for what the has produced
up to this point and will produce in the future.
And this is this is the way, this is the part.
(13:06):
So I think the Trump accounts are brilliant. I think
it's one of Trump's best ideas.
Speaker 2 (13:09):
Actually, I love your idea too.
Speaker 3 (13:11):
By the way of Christmas, like, especially if you have
young kids, take half of what you would be spending
on a lot of presents that they're going to spend
very little time playing with, and put it in the
Trump account instead and just let it grow.
Speaker 1 (13:24):
Like I mean, think about this. You know when you
were when you were your twenties. When I was in
my twenties, I moved to d C. I had no money. Okay,
I had two grand I couldn't get an advance on
my salary. I started at the CIA, had no money.
I mean, you know, say two grand Okay, yeah, but
I moved to a new city. I had to get
a bed, I had to get you know, I had
done nothing, and you know, I had my car from college,
and so I had that that.
Speaker 2 (13:45):
Was an advantage. That was nice.
Speaker 1 (13:47):
But you know, use car and I get down there
and I sit there, Clay ten thousand dollars fifteen thousand dollars. Now,
I know people can spend that on a jet ski
and they can, you know. But the point is if
you also explain to somebody how long it took to
build that money, and then they have the basic financial
(14:08):
discipline and understanding of how it got there and also
why the system and playing the system the right way
is so important. You know, this is basically make we
want a next generation of Americans who understand how to
do this, how to build financial security through the system
without having to You're not picking stocks here, everybody. You're
(14:29):
you know, you're not gambling, You're not investing on risky stuff.
You're investing in the United States economy, which if that
goes bad, it's just about ammunition, water and gold and
you know, good luck, gonn matter. Yeah, yeah, So I
think it's really really important. I think it's a great
thing that Trump has done. And Grandma and Grandpa, what
are you going to get to your grand kid for
Christmas or their birthday this year? Make sure they got
(14:50):
a Trump account money in the Trump account.
Speaker 2 (14:53):
Put money in that Trump account.
Speaker 3 (14:55):
All right.
Speaker 1 (14:55):
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Preset Clay and Buck on the iHeart app Oo walcome
back in.
Speaker 3 (15:49):
Clay and Buck appreciate all of you hanging out with us.
Even Wes Moore, Democrat governor of Maryland, is giving prey
to the Trump accounts.
Speaker 2 (16:01):
I believe this is cut twenty.
Speaker 4 (16:03):
I will give this administration credit for this is that
we've had democratic presidence and Republican presidents who have not
been able to get this done, and it actually got done.
Speaker 2 (16:13):
So I actually this is actually a smart policy.
Speaker 3 (16:17):
I hate the fact that he called Trump accounts, but
that is fair.
Speaker 1 (16:24):
Yeah, but it is smart policy, and it's popular policy too,
and it's smart policy on a whole range of levels,
I have to say.
Speaker 2 (16:35):
So.
Speaker 3 (16:36):
I just think in general, Buck, there is such a
lack of basic financial comprehension in this country. It's one
of the areas where our public schools are failing teaching
kids how to spend money, what the cost of money is, heck,
how interst rates exist, what credit card interest rates are like,
(16:57):
what mortgages are like? Did you get taught to any
of that stuff when you were in school, All the
stuff that you.
Speaker 1 (17:02):
Get taught, I was busy learning the difference between a
rhombus and a square.
Speaker 3 (17:08):
This is I mean, in all seriousness, that we teach
so much that is never actually utilized in adult life
or teenage life. Basic financial literacy should be one of
the four most assets that every kid graduates from school with.
It should be a standard part of the curriculum. I'm
(17:29):
disappointed that it is not, but this is a good
way to sit down with your kids, talk about planning
for the future, investing, by the way. The best thing
about to your point, Buck, the best thing about this
money is money can give freedom, can give opportunity that
otherwise wouldn't exist. But you have to create that freedom
and opportunity often with the choices you make. When you
(17:54):
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(18:20):
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Speaker 2 (18:54):
All right, welcome back into Clay and Buck. I love this.
Speaker 1 (18:56):
These guys are actually fired up about the accounts thing.
There's the thing that matters. I know it's early days,
early stage, but there have been a lot of these
accounts already opened up.
Speaker 2 (19:08):
I think a million so far. Clay, it's great.
Speaker 3 (19:10):
So the number one app I saw in America right now,
you can go on to the app store and type
in Trump account and you can open one for the
young child that you have to get this process underway.
Speaker 1 (19:24):
It goes also to what I often preach here on
the show, which is wealth versus status and how America
I truly believe, well, I don't believe America has done
nothing but actually get richer as a society for the
last well really certainly the last one hundred years will
just take that as a piece of the overall equation,
and I believe very strongly will continue to do so.
(19:47):
Wealth building here is I think about to go into overdrive,
and the problem is going to be much more about
a shared prosperity than the existence of net prosper right.
This is why people are upset right now. While the
SpaceX ipo is making like, you know, thousands of new
(20:07):
millionaires or centi millionaires and all this stuff, people are
writing in and we hear all of you, and we
read the you know, we can't get to every talkback
in every email, but Clay and I we see the
Hey guys, I'm struggling with.
Speaker 2 (20:18):
Groceries right now.
Speaker 1 (20:19):
They're too expensive, and that's real. That's true. I'm struggling
to buy that starter home right now. That's also real.
There's a lot of things that people are feeling the
pinch on when it comes to finances, and that's a
constant anxiety. And there are some policy shifts and things
that can be done and should be done. I think
Trump is trying on that, but this is a very
(20:42):
creative way to do a number of really good things.
And I think that's why we are worth us spending
the time to talk about this and think about this.
And I mean I was kind of doing Trump accounts
for my own nieces and nephews before this came about,
just because I realized. I think back to when I
could have When would twenty grand have made the biggest
(21:05):
difference in my life in my twenties, mostly by the
way I could have taken I could have taken some
of that money and put it into the people say, Buck,
why didn't you know what I bought my.
Speaker 2 (21:14):
First share of stock?
Speaker 1 (21:16):
I think I was thirty six years old, Clay, and
I bought my first share of actual stock in my name.
Speaker 2 (21:22):
I was thirty six years old.
Speaker 1 (21:24):
So that's late as late in the game, my friends,
you want to be doing this way earlier time? Is
your friend investing in the American wealth generation? And I
mean that as broadly as like the wealth generation of
America the power of are increases in technology and productivity
and everything else. That all said, some people are asking questions,
(21:47):
like podcast listener Paul here in Alabama, that's a fair question.
Speaker 2 (21:51):
Ge hit the talk.
Speaker 5 (21:52):
Back Hey, guys, how was this thousand dollars deposit for
the Trump accounts? Not the same socialism y'all complain about
every day? How it's just Trump buying popularity by giving
away money. I mean, why is it all of a
sudden good when he does it? Can y'all not think
for yourselves?
Speaker 1 (22:10):
Well, we can think for ourselves. Let's address this for
a second here. Is it socialism when you take double
not you, Paul specifically, but when anyone takes double out
of medicare what they paid into it the whole time,
because basically everybody on medicare ends up doing that?
Speaker 2 (22:26):
Is that socialism? It's interesting?
Speaker 1 (22:30):
Is it socialism that you have IRA accounts? Is it
socialism that there are tax advantages? The tax advantage, you
could say, is less revenue for the government. So is
everything that encourages any economic activity socialism? Now, socialism is
actually the government, means of government controlling the means of
(22:50):
production and.
Speaker 2 (22:53):
The distribution of resources. Right, That's what it is.
Speaker 1 (22:55):
So really what you're talking about here, Paul, it's clearly
not socialism. But is it socialists in twang or in
in vibe, in intent? Because there's a government spending well
the government spends money on a ton of things. So
now we're going to say the government is this is
the one thing the government won't be spending money, so
(23:16):
to speak, on the government spends money on It spends
money on defense, spends money a whole inter thing. The
government is not taking money from anyone on this, and
in fact, as Clay has pointed out, they're already extremely
wealthy people who are voluntarily giving a lot of money
to fund these accounts, especially in low income community gues. Sir, yeah,
I think we should speak to this because I don't
(23:37):
think it's gotten enough attention. Michael Dell and his wife
donated six point two five billion dollars of their own
money to seed two hundred and fifty million, two hundred
and fifty dollars for I believe they said twenty five
million kids that otherwise wouldn't have them money to open
(24:00):
these accounts. That's one of the most unbelievable gifts I've
ever seen in the history. Six point twenty five billion
dollar pledge two hundred and fifty dollars each up to
twenty five million kids ten and under in zip codes
where they live where the median family income is low
so they're actually and then by the way, Ray Diallo
(24:24):
and I may be mispronouncing Dallio Dalio seventy five million,
two hundred and fifty dollars each for Connecticut kids. You
guys need to be looking some of this stuff up.
There is a difference between the government encouraging beneficial acts
and by the way I looked it up, over the
course of ten years, this is going to cost one
(24:46):
point fifteen billion dollars, so one point five billion dollars
a year buck in a five trillion dollar I think
we're seven trillion dollar budget. This is virtually not on
existent and what it's designed to do. This is to
me what government should do. This is a direct investment.
(25:06):
You know this, but I think a lot of people
need to hear it. If everybody puts one thousand dollars
into their kids accounts and hopefully keeps up with the contributions,
there are young kids out there that will inherit someday
a million dollars or more just from this program being
seated that otherwise would not have existed. What you're talking about.
(25:29):
By the way, how much a Soros given to this fund?
I'm just wondering since we're going to play the class
warfare game. How much have the left wing billionaires given
to this fund? How much has Steve Jobs's widow or
the ex wife of Bezos? You know, a lot of
like climate change, you know, a lot of money given
to fancy philanthropies that who knows what they actually do.
(25:52):
How about some money for this? How about America's kids?
And you can you know, if you want to focus
also on kids from a household, then come under certain
amount whatever, Just give money to kids that sits there.
Speaker 2 (26:02):
And by the way, this is to invest This is
what government should be doing. This is the other part
of this place.
Speaker 1 (26:07):
I actually think that this is the This is an
anti socialism program. This is an anti socialism program because
it creates the basic foundation, it builds stakeholders in capitalism.
It inherently weakens the appeal of socialism because who who
are all the idiot communists these days? Clay and other
(26:29):
than Bernie Sanders, who's, by the way, a millionaire with
three houses, so he's just a fraud and an imbecile.
But who are the people that really believe all this crap?
Young people? Why do young people believe this? Because they're
saying I've had a job for five years, ten years.
I'm working my ass off. I can barely afford rent
and groceries. What's going on here? For them being told
(26:49):
somebody else, Santa Claus, someone's gonna come along. The government's
gonna pay for them. Mom, Donnie's saying, hey, I'm gonna
lower the rent. You can't pay rent. I'm gonna lower
the rent that has appeal for because they're feeling this
pain right now. If you created a situation where millions
and millions, now, it's not gonna be everybody.
Speaker 2 (27:07):
Some people are gonna go blow it. I'm not trying
to beat up.
Speaker 1 (27:09):
On jet ski owners, by the way, but I just
think that's like a really that's not a necessity. Okay,
you should be rich if you own a jet ski, right,
Jet's a fair suggestion.
Speaker 2 (27:19):
You know someone's gonna go to They're gonna go to
Disney World.
Speaker 1 (27:21):
They're gonna spend their fifteen grand, which apparently Disney World
is like one day, but you know you're gonna go
to these places and you're gonna spend Okay. Millions of people, though,
are going to be entering the workforce for the first
time or going off to college for the first time. Now,
this is obviously different than college accounts, but going off
to college to have money in their pocket to pay
for these essentials, and they will realize, why do I
(27:42):
have this money, clay because of the growth of the
American economy, the discipline to be patient and to have
the discipline to invest over time. This is this is
an anti socialism program, actually it is. It is capitalism
work looking for people in a way that they can
feel and see and taste and touch.
Speaker 3 (28:04):
A couple of other things that I think are important.
Every kid born, let's see. I just want the details
out there. Between January first, twenty twenty five and December
thirty first, twenty twenty eight is eligible with a valid
Social Security number. A lot of employers are also matching
whatever is put in among the employers twenty five hundred
(28:28):
dollars a year max. Because I think there's a five
thousand dollars annual cap that can be put in these accounts. Dell, Blackrock, Uber, Schwab, Visa,
MasterCard block and Nvidia IBM Coinbase. You can look into
whether your individual employer is doing this too. Again, I
love this, And by the way, they're betting inherently on
(28:50):
in the they're putting the money into the economy Clay,
which is also really important. I also think one of
the things that I'm most frustrated about with Social Security.
First of all, Bucket and Eye are never getting the
Social Security money that we've put in back. Right, let's
start there. So I'm going to have made I've made,
you know, whatever it is max social Security contributions for
a long time. I'm never going to get the money
(29:12):
back that I put in based on the Social Security timetables.
But you know what, the time to actually, from an
economic perspective, invest in people is not for their retirement.
It's to what Buck's talking about, it's their youth. Think
about the number of kids that you can't get this
money out till you're eighteen or older, by the way,
so it's locked in there right for to grow because
(29:35):
you want the time. Think about the number of kids Buck,
that twenty years from now are going to be starting
small businesses because they suddenly have two hundred thousand dollars
that's going to be in their name and they're graduating
from high school or they're graduating from college and they say, oh,
I've got the ability to start.
Speaker 2 (29:55):
A small business.
Speaker 3 (29:56):
Some of those small businesses will turn into bill dollar companies.
This is what we should be doing in the country
is encouraging people to invest and build growth. One of
the frustrating things, in addition to the fact that Social
Security is not gonna be there, they're gonna give me
my money back less than I put in at the
(30:17):
overall rate of inflation. So the government comes in, I
don't know, they take one hundred and eighty thousand dollars
in my money whatever it is, every year, and then
if I happen to stay alive, my wife happens to
stay alive whenever I retire, they're gonna give me a
three percent cost of living. Again, this comes to financial literacy.
People don't understand how bad of a deal that is.
(30:39):
If you had one hundred and eighty thousand dollars or
fifteen thousand dollars whatever you're putting into social Security to
invest every year, and you just bought s and P
five hundred index funds, you're gonna return around nine percent
a year. Okay, that's triple the rate that the government
is giving you when they take your money. If you
happen to still be alive. And by the way, you
know what happens much nobody talks about this. If you
(31:00):
and your spouse die in a car accident after your
kids are over eighteen, you get zero dollars in Social Security.
That money doesn't go to your doesn't go to your beneficiaries.
You're just rolling the dice that you're gonna have a
long life. Otherwise, You're social Security money doesn't descend.
Speaker 2 (31:18):
To you at all. It just vanishes.
Speaker 3 (31:20):
You gave the government all that extra money, you never
get it back, and it's a crazy policy, frankly.
Speaker 1 (31:25):
But I also I just feel like this is an
answer to why should young people believe in conservatism and
in capitalism and why should they will programs like this
will show anybody who's being honest with open eyes, they
(31:46):
will experience themselves.
Speaker 2 (31:47):
Now.
Speaker 1 (31:47):
I know this will take time and people will say
things like, well, what if the whole economy crashes, my friends,
guess what, We're all toasted anyway, So you can't That's
like saying, you know what, I shouldn't invest any money
because a media or could hit the world. Yes, that
is true, but I go with the not heat in
hitting the media or plan or you know, in the media,
you're not hitting us plan. So, Clay, I think this
(32:08):
is great. I think it's a brilliant idea. I think
it plays very well politically. Let's just say that also
that this is something that the billionaire Donald Trump and
some of the billionaire supporters of Trump are doing that
is going to help people. And back to our initial thing,
and I already do this. If you have some money
that you can afford to give to family members, and
(32:30):
I'm talking about kids and grandkids, put money into an
SMP account for them like this a tax advantage SMP
account doesn't have to.
Speaker 2 (32:36):
Be a lot.
Speaker 1 (32:37):
One hundred and fifty bucks a year, two hundred bucks
a year, you have a better year, maybe put a
little more aside. You put a thousand bucks and you
can go up to five grand. By the way, that'll
grow rich if you put I mean, I know, five
grands a lot of money. But Clay, if you put
five grand a year in this account, kids will have
a kid will have one hundreds of thousands of dollars
when they're eighteen years old in the bank.
Speaker 2 (32:55):
Correct.
Speaker 3 (32:56):
Correct again, some of you are just the stop market
can be intimidating. This is a good introduction to a
lot of kids by s and P five hundred index funds.
Don't look at it, don't worry about the price. Every
ten years it's going to double, and twenty years from
now you're going to say, hey, you know what, man,
I'm glad I listened to Klay Travis on that on
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Speaker 2 (34:37):
Miss the show while you're on the go. Wind down
your day with the Daily Review podcast.
Speaker 3 (34:43):
Find it on the iHeartRadio app for wherever you get
your podcasts.
Speaker 2 (34:47):
Low dose Guess who's coming up next?
Speaker 1 (34:48):
Guys, you'll laugh, you'll cry, you'll send us emails, that's
for sure, and.
Speaker 2 (34:55):
Coulter will be with us. Oh yes, oh yes.
Speaker 1 (35:00):
She's got a great piece actually this week about the
about a big housing bill, talking about policies and things
like that.
Speaker 2 (35:07):
You know, what's the latest with Iran.
Speaker 1 (35:09):
We'll get into that in some I'd actually did a
podcast on it for the clam Buck Network last night. Details,
ways forward, all that sort of stuff. But Clay right,
it's it's kind of what it's been, which is we
blew up some stuff. We're going to talk some more.
There's still some flow through the straight of war moves.
Gas price is okay right now Washern's repeat like.
Speaker 3 (35:27):
Nothing really cu feel like it does very much feel
like groundhok day. Gas prices are basically a couple dollars
above where they were in February. They should be continuing
to come down at your local gas station, which is
frankly the thing I hear about the most. And I
noticed the other day we're back to three dollars and
twenty cents a gallon gas in my neighborhood. And I
(35:49):
understand everybody's gas prices are different, but in much of
Red State America, gas prices are back down much lower
than they have been over the past several years.
Speaker 2 (36:00):
Talk about Kay Aaron from Florida hit it heybook.
Speaker 5 (36:07):
A square is a rhombus where all the angles are equal.
Speaker 1 (36:12):
Apparently we've got some geometry teachers in the audience here.
Speaker 3 (36:16):
Eh, I'm gonna tee off on this all right. I
should start hammering this more and more. The only three
courses that I really care about. It should be taught
to everybody in high school. Basic English right, learn how
to read and write history, actual history, not America's awful history.
And basic finance. Every state in the country should have
(36:40):
basic financial literacy requirements, just like we have reading literacy.
Everybody should have to have financial literacy. Would change a
lot
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