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When the children of wealthy families reach maturity, they often grow parents in the form of parents’ confidence fund. It is another way to get a foot on less rich peers who can get anything or even support their families.
But all children – may a financial boost when the family turns 18 years old?
This idea is thata home gop offersupported by the PresidentDonald Trump. This is a tax deferred investment accounts – “Trump accounts” – for babies starting with $ 1,000 for babies born in the United States. At the age of 18, they could get back the money to put the money to start home, education or a small business. If money is used for other purposes, the higher extent will be taxed.
“This is the initiative of millions of Americans to help us use the power of our economy to remove the next generation,” Trump said at a White House Event on Monday. “Really, they will get a great jump in life, especially if some numbers and a little lucky to the economy.”
Although the investment is symbolically meaningful, a relatively small financial finance is related to children’s poverty in the federal budget of $ 7 trillion. To return to 7%, $ 1,000 will increase to about $ 3570 over 18 years.
It builds this concept “Baby bonds“Which two states – California and Connecticut – and the Colombian region presented as a wayto reduce the gapsamong rich people and poor people.
In-time unequality may be an antidot that gives you a share in Wall Street when some young people in capitalism are facing capitalism.
“We know that the American economic engine is operating, but everyone wrote in its value and ways to them,” he wrote in Mooreon-edFor the Washington examiner. “If we can demonstrate the benefits of investment and financial health of our next generations, we can guide them to prosperity.”
Families of all income levels can receive ‘Trump accounts’
The bill requires at least one parent to produce a social security number with the work permit, ie the benefits of some category of US citizens will be expelled. However, unlike other baby bond programs that are generally targeted groups, it would be accessible to the families of all revenues.
Economist Darrick Darrick Hamilton, the first closed the idea of the idea of bonds a century ago, Hamilton said that the GOP proposal will be more aggravated than reducing the wealth. When the baby dreams of gardens, it will be a universal, but a greater gift from poor families to children, grew a gift, a program at the level of play. The money will be managed by the government, not by special firms in Wall Street.
“It’s under it,” said Hamilton. “This intends to increase inequality.”
Hamilton added that $ 1,000 – with interest – not enough to make a significant difference for a child living in poverty.
In an interview with a Silicon Valley investor, Brad Gerstner, CNBC’s CNBC, which prepares a plan for the proposal, said the loss of confidence in capitalism, which represents the US existence crisis
“When there are people who believe in the system, the rise and fall of peoples occur when the growing wealth is a cavity,” Gerstner said. “We’re not an agency. We can do something.”
Critics say poor families need closer
The proposal Congress is for the cuts offered for the cuts of poor families of Republicans and Trump’s children, including food assistance programsMedicaid.
Some return to Baby Bonds, along with suspicion, the same age group wants to cut Trump’s Grants and Programs that help Trump’s minors – the same age group should help Trump accounts. The expected federal legislation will slip Medicaid and food and housing for many families of many families with children.
Young people growing in poverty often fight their covers as a rent and transportation – the costs they could not be hit to cover Trump accounts are a hospitable for young people in Southern California. An old growing young man, said he was homeless when he reached the age of 18.
The accounts of newborns, which are not obtained over 18 years, were less for families who struggle to meet the main needs today, today the last child Poverty california said.
“Children’s health has the opportunity to access their families Whimper We really need food … The country is in the focus of attention, “he said.
This story was first displayed Fortune.com
