There are 365,000 people out there with $1 million Ira’s.
https://www.fool.com/retirement/2021/05/21/the-number-of-retirement-plan-millionaires-has-rea/
This is Fidelity alone(2021).
My idea(it should be Cruz’s). Withdraw $101k tax-free. The extra $1k goes to a newborn American citizen(It’s a 1% tax). If 365k millionaires take this tax-free withdrawal it comes to 3.65 million newborn thousandaires(my math could be wrong). Tax cut for the rich? Sure, rub it in their faces. Would new parents object? There are 3 million or so new ones every year.
The Kennedys talk a good game about helping the poor. We don’t get credit for doing anything but pushing grandma off a cliff, wheelchair included.
“If 365k millionaires take this tax-free withdrawal it comes to 3.65 million newborn thousandaires(my math could be wrong).”
Yes, you’re right, your math is wrong - by a factor of 10. That would be 365k thousandaires.