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Darrick Hamilton

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Articles

The Problem with Trump Accounts Isn't the $1,000. It's the Design.

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By Laura Montoya, Darrick Hamilton
| KRWG-TV (Las Cruces, NM) Verified
On July 4, Trump Accounts (530A) launched, providing eligible children born between 2025 and 2028 with a $1,000 investment account. Who wouldn't welcome a financial head start for every child? But policymakers and the public should not allow themselves to be misled by the fool's gold called Trump Accounts. The truth is, $1,000 is not enough to put most children on a meaningful path to building wealth.
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The problem with Trump Accounts lies in the design

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By Laura Montoya, Darrick Hamilton
| Santa Fe New Mexican Verified
On July 4, Trump Accounts (Section 530A accounts) launched, providing eligible children born between 2025 and 2028, with a $1,000 investment account. Who wouldn’t welcome a financial head start for every child? But policymakers and the public should not allow themselves to be misled by the fool’s gold called Trump Accounts. The truth is $1,000 is not enough to put most children on a meaningful path to building wealth.
Open in Who Shared Issue with article?

New School economist: Trump Accounts will widen America’s wealth gaps

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By Darrick Hamilton
| Yahoo Finance Verified
The lesson is straightforward. These investment accounts are financial multipliers. They do not create capital on their own—they compound the capital families already have. That is not a criticism of families who contribute. It is simply how compound investing—and a tax code that subsidizes it—works. A household able to invest several thousand dollars each year for 18 years will accumulate dramatically more than one struggling to pay rent, buy groceries, or cover child care.
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