‘Hey, You Are Stealing From Me’: Kevin McCarthy Explains What He Wants Kids to Do With Their Trump Accounts
The former House Speaker wants kids to learn ownership through Trump's new investment accounts.
In a Fox News clip that’s going viral on social media, former House Speaker Kevin McCarthy discusses the Trump Accounts. In a particularly eyebrow-raising section, McCarthy suggests the accounts could help move children away from what he called “trying to live off government and take from someone else,” toward an understanding of ownership and capitalism.
After McCarthy gave a brief overview of his vision for what the concept of Trump Accounts aims to achieve, Jesse Watters revealed that he’s signed up his four kids for the accounts.
McCarthy said he wanted children who have Trump Accounts to visit their app and get a sense of owning shares in well-known places like McDonald’s. He added that he wished for these children to feel as if they owned part of a store, and when they see someone stealing, they would ideally ask them to stop because they also have a stake in that store.
“Wait a minute, we own this place”
He also said he’d like these children to visit places where they own shares and prevent people from littering: “I want them to go into the store, and when somebody steals, the other kid stops and says, ‘Hey, you are stealing from me’…. Generations from now will understand the power of compound interest, the power of having ownership instead of trying to live off government and take from someone else.”
How does the Trump Accounts work, and how can Americans benefit from it?
According to the United States Department of the Treasury, Trump Accounts allow for “private ownership, multiple funding pathways, and direct investment across a broad swath of the American economy.”
The US Department of the Treasury further states that, due to the Trump Accounts, every American child born from January 1, 2025, to December 31, 2028, will qualify for a $1,000 contribution from the Treasury, which will be invested instantly in an index fund. To access this investment, most families need to check only a box on Form 4547.
Speaking of Trump, here’s a throwback to the time singer and rapper Nicki Minaj called herself Trump’s “number 1 fan,” and some people thought she was trying to appease him.
The page explains what investors in Trump accounts can expect. It highlights that the compound growth from the U.S. Treasury’s initial seed funding alone could make young Americans rich. It states that if historical growth rates persist, a $1,000 deposit made at birth into a Trump Account could grow to at least half a million dollars by retirement age.
Have a tip we should know? [email protected]
Follow The Mary Sue:
