How the new Trump accounts for kids works

The can convert them to a Roth IRA at 18 for usually 0% tax

I hope the money goes where it is meant to and not another Trump self dealing charity.

I don't know why they didn't allow parents to contribute tax deferred like a regular 401k or traditional IRA.
I think parents would be much more likely to contribute to it if there was a tax advantage to do so.
I thought the child could keep the account for retirement but you said they had to remove the money by the time they're 25 which doesn't make sense. You're not going to find that many employers contributing to your account before the age of 25. Although if you work at a family business it might allow them a tax deduction😂

How do I get an account for 2023 baby?

You as a parent will contribute money into that savings account post taxes taken out but the earnings will be taxed on your child’s tax bracket that will be much higher given that he’ll have zero dependents more than likely

I can explain. Banks make millions with the trust money tax free for the next 15 to 20 years. Companies who contribute get some tax breaks. We all continue to get screwed. And so on...

Right so dumb but yet we are in a trillion dollar deficit and they are going to take that money and invest it towards stocks for them ? Isn’t the stock market crashing at this current time do to tariffs I’m so lost and why would people do that when they are already doing that through insurance ( life insurance, plus when they pass on not everyone but most leave a bit of cushion money for their kids and also through their insurance if the parent was to suddenly pass away at a young age, just dumb if you really listen to what he’s saying you can read between the lines of what he’s actually doing still nothing that has benefitted anyone yet I’m waiting for those results