Let's cut the pretense
- Thread starter Teflon Don
- Start date
If they withdraw it before age 59.5, there is a 10% penalty. Beyond that, they have to pay full taxes on it. And do not forget inflation.
If trump spent our taxpayer money on education, that would increase productivity, and not inflation. Giving away free money increases inflation. Even thought the children cannot get access to the money, it is being invested in private funds, so the sellers of the investments are spending the money.
In your world, could we hand a billion dollars to every American, having friends of trump invest it for us, and we could all retire immediately on 2% of the investment? That would mean that every American would have $20 million a year income, and not have to work to get it.
Both schemes fail for the same reason.
If you put $1,000 a year into an account, and get 3% interest on that account, after 20 years you will have $26,870.37. Your math mistakes were to assume that all the money gets 20 years of interest, and that 20 years at 3% is 100%.
If there is double digit inflation, very quickly 3% interest starts meaning you will lose money. Inflation is not considered when calculating taxes, so you are still on the hook for taxes. Beyond that, the 10% penalty for early withdrawal.
Obviously never turn away free money. trump wants to give your child $1k, invest it 90% a broad stock fund, and 10% government bonds fund. Rebalance it a couple of times a year. It might be worth something when the kid retires, not like buy a car something, but be part of the downpayment on a car.
BUT WHATEVER YOU DO, DO NOT PUT MORE MONEY INTO THE trump account!!! It is so restrictive that it is a waste of money. Put $20 a week into a 529, or if the kid has income, put money into a Roth IRA.
T. A. Gardner
Serial Thread Killer
Wouldn't that depend on what kind of account it was invested in, you retard?
No, it would increase the money we're spending on education.
New study shows no correlation between increased school spending and improved student learning
Today we released our new study: Does increasing public school spending improve learning outcomes for children? By Liv Finne, Director, WPC Center for Education Ke
Essentially, those with a vested interest in spending on education will tell you that spending more makes a difference. Those outside of education and those in industry will tell you that spending more on education makes little difference.
Maybe in YOUR world. In my world, your idea is absurdly insane.
Because you are an idiot.
Your advice is almost as bad as listening to the Motley Fool.
trump accounts get $1k from the government, which is held in effective conservatorship until the 18th birthday, when it becomes basically an IRA. That means that with a few exceptions, there is a 10% fee (on top of full taxes) for early withdrawal. There is further restrictions, beyond even an IRA's restrictions, on how the money is invested.
I love Roth IRA's, but I acknowledge that there is a 10% fee(on top of full taxes) for early withdrawal. There is no magic other type of account that you can use.
On average, people with a college education make more than people who do not have a college education. That is just a fact.
I am not a fan of Motley Fool, but they are not that bad. They do a reasonable job of giving financial advice.
Are you some kind of negress or something? You seem obsessed with race.
Or maybe just another fat white liberal snag? They love to cry racism too, that's why they color their hair weird shades and put fishing lures in their faces.
If you give a newborn a grand and it earns 10% for 18 years they will have around 6k. This will not impress anyone frankly much less an 18 year old 20 years from now.
$5,560, but yes, that would be reasonable. 10% not adjusted for inflation, would be a possible return. Given the restrictions on the account, it might be a little more difficult than it sounds.
Important to remember that it is not supposed to be touchable by the kid until they are 59.5. The idea is to impress them so much with the fact there is money out there with their name on it that they put more money into it.
You cant really fake this.
If Trump say gives Iran sanctions relief and unfrozen assets for say opening the straits and futher negotation on nuclear then everyone even people like me who support trump will say and rightly so that Trump has capitulated to Iran.
TBH nothing of what Trump has done this war has made me more confident in him. In fact I think if Trump just went away and left Hegseth or Netanyahu in charge this would be over already.
Teflon Don
I'm back baby
I am not saying there is potential for a bad deal when this is over. I am saying that no matter what these Marxists will complain.
Poor deplorable garbage OP. Let's drink a toast to them!
Education is something MAGATs do not want to fund because everyone knows all the public schools are hotbeds of
Look at this moron's comments. Seriously, you people are insane embarrassments to the human species. I'm not being 'hyperbolic'. Anyone that's even skimmed through human history has to put radicalized libtards in the 21st century at the very top of all the morons throughout history. Wally is a perfect example of a guy that's likely gone beyond high school and might even have a brain that could have been useful to society and used to reduce the suffering on the planet while he's here. Instead, he's part of a cult that literally ruins everything they touch and then pats themselves on the back for spreading misery equally. Let's play with Wally's sanctimonious egotistical views with logic and reality.
Wally, please explain your dumbass comment to me. It's right down there.
Destroying one of the 'smart' libtard narratives on JPP.
Provide other examples of Trump's 'government handouts' because you said the only solutions, meaning you're saying there are others. In fact, by claiming it's the 'only' things coming out of Trump's government means there must be many. I know this can't be true because I've never heard the democrats praising the 'only things' Trump's doing. So, please Wally tells us at least one other 'handout' unless you're a liar, lol. You won't, because you can't, because they don't exist, like always.
Now let's compare a Trump 'handout' to handouts that libtards supports.
A libtard handout, needles for drug addicts. Money well spent that I'm sure Wally and friends feel really good about. The fact these fentanyl addicts won't get AIDS is worth every penny, so he pats himself on the back. 'Stop it, that's chump change, let the little libtards have their fun', right? Ok, how about $22.6 billion to illegal migrants for resettlement goodies including cash for cars, homes, and startup businesses. Is this a libtard handout they're proud of? Of course it is, morons like Wally will argue we not only need these people, but they'll pay for that handout tenfold with the taxes paid when they create jobs with their cars and new business grants. They don't understand how citizens might disagree since so many worked for shit wages to get their first car and they built their small business without getting a check for their neighbors, and how about the painfully obvious, they're criminals that broke into our country. Libtard's answer? Yeah, you used your privilege. How stupid are these idiots? I could go on for a thousand pages of examples and still wouldn't be done with the long list of libtard handouts.
Instead let's go to the list of Trump 'handouts'.
First one is called Trump accounts. It is a mandatory long-term savings vehicle that harnesses decades of compound interest to build real wealth for that child instead of dooming them to the libtard model of lifelong dependency. If nothing is added other than the first $1000 that was a handout, it will turn into 6-8k when the kid turns 18, if they don't take it and still add nothing, it will be a half a million at 65. Even better, you can add your fund tax free up to $5000 dollars a year. Any amount will increase that 6-8k substantially. If you managed to hit the 5k per year mark, you'll have many millions at retirement if you never save another dollar after 18. It's a phenomenal program that is unparalleled by any government in any country at any time in human history.
What makes idiots like Wally even dumber, and yes, that's possible. Most of them are so mentally ill they won't sign up for the 'Trump accounts' for no other reason than the name on the fund. There will be a lot of kids asking their dumbass parents about the money their friends are getting, and they'll be told how much they hated Trump, and they shouldn't want money that had his name on it. You think those kids will thank their parents, lol. Answer: The rich kids with plenty of money from the parents maybe, but the ones with empty pockets might learn what's better to know sooner than later, their parents are morons.
Oops, I was supposed to list all the Trump handouts and only talked about one. Why? That's the only one and handout is a poor description. Wally's a simple-minded moron as I've said all along, so he's confused as usual. If I'm wrong, maybe he can tell me about all the other Trump handouts. Then he could tell me of a libtard handout that works anything remotely close to Trump accounts.
If government programs spent money on 'handouts' that multiplied the dollars they take from taxpayers to pay for it, I'm all ears. Can you find another 'entitlement' that directly benefits every person that signs up with six times more money than its total costs, that's not swallowed up by bureaucracy to implement such a program? If so, tell us what it is. Wally and others like him truly are idiots driven completely by hatred, bitterness, and jealousy. This program also exposes that little truth very well.
What will Wally do now? He'll pivot and/or run away.
You're right. (I realized that as soon as I hit reply, lol. But this is different) I should have added the important caveat that they haven't said it like this after their nuclear progress became fully public. By that I meant they have now effectively admitted they blew past the Obama deal's limits. Iran has accumulated enough enriched uranium, including hundreds of kilos at 60 percent, to produce material for roughly 9 to 12 nuclear weapons with a short additional enrichment period. That's in spite of and with the help of Obama's deal. That's a major shift. As we've now seen, it wasn't enough.
They've repeatedly claimed for years that their program is purely peaceful and that they would never pursue a bomb to idiots that just believed them after making that statement so many times. This recent statement comes under much heavier pressure after destroying much of their military and with a guy that won't listen to their bullshit in Washington.
The key differences this time are that Trump has made clear he won’t sign a weak deal. He wants real verification and performance before any major sanction relief or concessions. Step one appears to be their renewed pledge on nukes by saying 'they are NOW ready......'. Step two is ensuring free passage through the Strait of Hormuz (going against everything they've been saying to this point). Step three is holding them accountable, unlike all other deals.
That’s why Trump said no deal yet. The blockade and the troops remain in place, which is real leverage. Iran keeps trying the same words that worked in the past, but this administration is demanding proof, not promises. They’ll have to demonstrate real, verifiable changes this time.'
Just addressed this sweetheart, go read my reply to Creepy. He got me before you did, lol.
Not sure where you're getting the 3%.
Trump accounts are invested in broad U.S. equity index funds (primarily S&P 500-style or large U.S. company funds), not in low-yield savings or bonds. The money will easily earn 7-10%, so........??
I don't search threads for what other comments were, so I'm going to assume you didn't know, and FOX neglected to tell you, that Iran has been saying for years that they are not building nuclear weapons and don't have an intention to do so.
Grim Reaper
Chief Exit Officer (CEO)
You keep screaming name another handout while standing on top of one. Trump Accounts literally start with a $1,000 taxpayer deposit, plus government‑subsidized employer contributions, plus state and nonprofit contributions the law explicitly authorizes. That’s three handouts before breakfast.
You didn’t debunk Wally, you just proved you don’t know what the program you’re worshipping even is.