Trump Accounts

Episode Transcript

Speaker 1 (00:00):
Democrats socialists may be twisting in the breeze in Maine
this morning, but in the other forty nine states they've
had a big week. One of the planks of their
platform is free stuff, free housing, free cell phones, free school,
free clothes, free beer, hot dogs for everyone. Rich people
have too much. Most of them didn't earn it themselves,
so we need the government to take it and give

(00:20):
it to a lot of people who really have no
interest in working for it. Not everybody, but a lot.
We've trained ourselves to behave that way now for sixty years. Well, anyway,
what are we celebrating? Free money courtesy of Donald J. Trump?
Say what? The Orange Menace would never do anything for
somebody who wouldn't or won't vote for him. You're making

(00:41):
that up. Nope. DJT is given every newborn from January
one of last year through December thirty one, twenty twenty
eight a cool grand, a bone chip, whatever you call,
one thousand dollars tax free. If somebody did that for
me today, it would be worth sixty seven thousand dollars. Now,

(01:03):
where was Trump when I came out of the birth canal?
Like Buffett says, timing, we're talking about The Trump savings
accounts big part of the big beautiful tax bill passed
last summer. Thanks to taxpayers, the next generation is off
to an excellent start. It'll grow in a stock market
index fund if you leave it alone. By the time

(01:23):
the tot turns eighteen, he has six thousand dollars tax free,
so long as he uses it for college or to
buy a home. But the plan is to make the
one k a carrot a jump start. The real beauty
of the Trump accounts is how it can turn into
a genuine pot of gold. Here is how grandson here

(01:44):
gets the thousand, and Grandpa Grandma. Baby boomers who did
fine plan to add another thousand every year to age six,
while the toddler has no idea what a Christmas or
a birthday gift is. By age twenty five, that fund
is worth fifty nine thousand dollars. But what if mom
and Dad pushed back from Starbucks every morning each month

(02:08):
plow one hundred dollars of their latte money into that
account another twelve hundred a year. At age twenty five,
that little guy is now worth one hundred and eighteen
thousand dollars. Now how many twenty five year olds in
this country have one hundred and eighteen thousand dollars. Did
I nope? What about you? Huh? But wait, there's more.

(02:32):
As President Trump predicted, this invest in baby's idea has
caught on. Computer billionaire Michael Dell has pledged an additional
six billion of his own money into the Trump accounts
of babies who live in low income neighborhoods. SpaceX CEO
Gwynn Stockwell has set aside one billion of her stock

(02:54):
for the program. Just this week, Mellon Bank of New York,
black Rock, Schwab, Charter Communications, chipotlely Intel, Micron Technology, and
Sofi Communications announced plans to match the Trump one thousand
with one thousand more for each of their employees who
sign up their newborns. Now, these aren't giveaways, they are investments.

(03:19):
All of those blue chips didn't get there with giveaways.
They did it by smart investing. The Trump accounts are
like a donation bucket. Anybody can contribute brothers, sisters, aunts, uncles, cousins, godparents, surrogates,
even sperm donors. Now it grows tax free for the kid,
but isn't deductible for the giver. But then again, neither

(03:41):
is your Starbucks latte or the giant plastic golf clubs
that's sixteen month old will teethe on tonight. It also
does something that not a single entitlement program has ever done,
educates the user on how the money works, the value
of investing. Until now, every government assistant program has been this.

(04:02):
I'm going to give it to you. How does the
country keep promises to older folks? Social Security, Medicare? How
do we help those really in need? You know, the
bou Radley's out there. With fewer people being born now
than at any time in our country's history, and all
of us living longer, the old model of workers pay
for retirees will break down. Minus major tax increases on

(04:24):
individuals and businesses, this helps solve a very large problem,
not by appropriating, but investing. Imagine that