I think this is what Social Security should have been turned into back in the 70s. Maybe this is a step toward that path?
Had my SSA contributions gone into even a slow-growth fund back in the 1970s instead of a Fedzilla slush fund, I would be a lot better off today.
The 18-year old you reference will have choices. College, Trade School, or blow it all on drugs and a new motorcycle. Needs oversight.
I don’t think it will create a generation of trust fund babies, but you never know.
I support this plan.
According to trumpaccounts.gov an 18 year old investing $5k/year will have $271k by the time he/she turns 18. We have to assume there’s a 6% growth rate built in.
With that much money no one can plead poverty and go on the dole. If they don’t need welfare they won’t need democrats. Threats to that 6% growth will be confronted-government spending-people not towing the line employment-wise. Immigration-good immigration?
SSI-W tried but failed. Trump accounts will slowly replace that ponzi scheme.
Gonna be awesome.