From a Social Security press release:
Today, the Social Security Administration (SSA) announced it is launching processes for parents to enroll newborns in Trump Accounts. This automatic system will help ensure that every newborn has the opportunity to benefit from a Trump Account from the start of life. …
Starting next week, Social Security will update guidance to hospitals to include Trump Account enrollment information. SSA will assist the states to modify their existing hospital forms used by parents to apply for Social Security numbers through the Enumeration at Birth (EAB) program to include the automatic creation of a Trump Account. Future Social Security card mailers for newborns will also include information to inform parents about the benefits of Trump Accounts and convenient and streamlined ways to open an account. …
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There was an EM from a while back, "Documenting Trump Accounts (TAs) for SSI Purposes"
Conservatives in America for 50 years have been trying to do that — have been trying to do Social Security personal accounts," Cruz said on May 4 at the Milken Institute Global Conference, according to a written transcript. "Here's the dirty little secret: Trump Accounts are Social Security personal accounts."
Those account balances, which Cruz said may climb into the millions with regular contributions over the decades from childhood, "will become Social Security personal accounts."
The idea of creating personal Social Security accounts was pitched by President George W. Bush in 2004 and 2005. The plan, which called for allowing younger workers to voluntarily put a portion of their payroll taxes in personal retirement accounts, failed due to a lack of public support.
In response to Cruz's recent comments, Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare, an advocacy group, said in a statement that "the people will not stand for privatization of their hard-earned benefits, and we in the advocacy community will continue to ensure that it never happens."
SSA employees will add another workload to their pile. Are we required to give out financial advice since many in the public will ask if the Trump Accounts are worth the investment.
Social Security Administration to Launch Process to Assist Enrollment in Trump Accounts.
This administration loves to paint a rosy picture but often doesn’t deliver.
The Trump administration has touted the accounts as a way for American families across all income levels to build wealth for their children. Scroll down the accounts' website, TrumpAccounts.gov, and you'll see dollars racking up at the top of your page until you arrive at projections for what the accounts could be worth when holders reach ages 18, 27 and 55. At age 55, absent any other contributions, a child's initial $1,000 investment could grow to $243,000, according to the site.
These numbers may be too bullish, according to calculations conducted by investment research firm Morningstar exclusively for CNBC. When asked to run similar projections while modeling for factors such as return variability, family income and investor behavior, Morningstar showcases a more subdued picture of financial health for account holders at the same intervals. The model estimates, for instance, that a 55-year-old who received only a one-time $1,000 seed investment could expect their account to grow to $38,000, on average.
That’s a nice rate of return.
The controversy centers around Michael Dell and his wife Susan pledging a $6.25 billion donation to privately fund $250 "Trump Accounts" for 25 million qualifying American children. This drew criticism regarding potential conflicts of interest after Dell Technologies received a $9.7 billion Pentagon contract and Donald Trump purchased millions in Dell shares.
I know that there is sub-regulatory guidance that these new accounts are exempt from counting as income or resources for SSI purposes. Is there any statutory basis for that though? I don't see Section 1612(b) excluding it from income, or Section 1613 of the Social Security Act excluding it for resources. I'd just hate to see a bunch of people get these accounts and then face severe consequences like overpayments and loss of needed benefits after a Court rules that there was no legal basis for excluding these accounts as countable income and resources.
This administration wants self sufficiency for the public and socialism for the wealthy.
Trump rings opening bell to mark first day of trading for Trump Accounts
Michael and Susan Dell, they are truly incredible," Trump said Monday of the Dells, who were in the Oval for the event marking the launch of the administration's tax-advantaged investment vehicles for U.S. kids.
Trump, who has disclosed actively trading Dell shares, said he wants the couple to make back the money they're giving to the accounts.
"We're going to get him that money back one way or the other — and then I'll ask for another $6 billion ... We'll start the whole process all over again," Trump said.
Trump's annual financial disclosure for 2025 that was released last week shows 24 Dell Technologies trades, including 16 purchases and eight sales across five accounts.
The transactions, dated Jan. 29 through Nov. 18, totaled between roughly $300,000 and $1 million, according to CNBC's analysis of the disclosure ranges.
Purchases accounted for most of the activity, valued at up to $770,000, compared with up to $225,000 in sales.
Just remember how Milton Friedman's Chicago Boys tried this privatization scam when Pinochet came to power in Chile and how it failed!
Musk is toxic so the assistant helps out. Musk needs the government contracts to succeed.
Elon Musk's No. 2 says she's giving SpaceX stock to Trump Accounts
My husband and I are honored and thrilled to participate in the Invest America program and gift a share of our SpaceX stock to a Trump Account for each of more than two million children across our great nation.
Every American child under 18 can benefit from having a Trump Account, but our gift specifically goes to the Accounts of children (ages 11-17) that live in areas with lower average household incomes with a bit more emphasis for those that live near our central Texas home.
We have been fortunate in our careers and hope this gift encourages the next generation to continue the journey of enabling humanity to live and fly amongst the stars.
Trump looking 'very strongly' at Australia-style retirement system: 'Taking that, making it sharper'
Trump officials studying Aussie superannuation models to make it 'a little bit even better'
Australia’s retirement system is built around "superannuation," a mandatory savings program that requires employers to contribute 12% of a worker’s ordinary earnings into tax-favored retirement accounts managed largely by private funds, according to the Center for Retirement Research at Boston College.
Wall Street will stop at nothing to grab the trust fund money.
Wall Street has been salivating for a privatized Social Security. These individuals are a step closer.
Trump Accounts could be a boon for the stock market and retail investors: Strategist
While in the real world…
A draft report inside the Treasury Department is set to warn of the risks posed by the artificial intelligence market, likening key aspects of it to the dotcom bubble that upended the U.S. economy when it burst in the early 2000s.
The document, the existence and contents of which have not been previously reported but was obtained by NOTUS, is a significant departure from the Trump administration’s public tone, which has focused on encouraging unrelenting investment to unlock exponential growth.
There is talk of including a handful of companies like SpaceX to the Trump Accounts. How is this stock doing these days after its IPO?
The workloads never end…
The Treasury Department may be doing the heavy lifting when it comes to Trump Accounts, but the Social Security Administration is also working to ensure families can easily enroll their children as soon as possible.
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