Millions sign up for Trump Accounts, but are they wise investment?
Excerpt:
But some experts fear the accounts will further solidify the nation’s wealth gap as more well-off parents contribute to their children’s accounts while those in low-income households are unable to fund them. Others caution that, as an investment, Trump Accounts are not the best option for parents looking to give their children a financial leg up at age 18.…
Giving charitable donations to families who don’t need them is troubling as it comes when inflation is high, and the administration is slashing funding for social services and other supports that many families rely on, said Ashley Burnside, senior policy analyst at the Center for Law and Social Policy in Washington, D.C.
“They’ve made dramatic cuts to Medicaid, to SNAP,” Burnside said, referencing federal programs that provide health insurance and help purchasing food. “If a parent can’t afford groceries each month, it’s going to be very unlikely that they ‘re going to be able to put money away towards a child’s account or towards college savings.”
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Source URL: https://www.orlandosentinel.com/2026/08/10/millions-sign-up-for-trump-accounts-but-are-they-wise-investment/
