UnHerd
UK · 9 mins ago
The Trump Accounts’ false promise
“I’m really opposed to Trump, vehemently, but it’s a free $1,000,” says Hannah, age 31, a freelance arts professional and mother of a 9-month-old in Brooklyn, New York, of her decision to open a so-called Trump Account — the new government investment account for children, which, like all things Trump, puts his name on it in order to promote his brand. Hannah also likes the initiative because, “I hear they’re trying to incentivize births because the birth rate is dropping and I think it is a good thing to provide any type of support for parents.” Hannah describes herself as “medium financially-organized,” but says that setting up a 529 — a college savings account whose earnings are tax-free — might have been “the kind of thing I thought about but never actually did.” The free money incentiv
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