How ‘Trump accounts’ for kids could widen the wealth gap

So far, 530A tax-advantaged investment accounts for kids, also known as “Trump accounts,” have had a successful debut. As of July 27, just over three weeks after the accounts went live, Treasury Secretary Scott Bessent reported that 7 million children under 18 are enrolled, and 86% of them come from families with annual incomes of less than $200,000. The House Committee on Ways and Means stated that the high percentage of accounts belonging to families earning less than $200,000 is “proof that…