Questions and Answers About the ‘Trump Accounts’ for Children the Dells Are Supporting

 Questions and Answers About the ‘Trump Accounts’ for Children the Dells Are Supporting

Questions and Answers About the ‘Trump Accounts’ for Children the Dells Are Supporting. Well, thank you very much, and we're very happy to be involved with one of the most successful.

Business leaders and people everywhere in the country, whether it's technology,

Oh, it doesn't matter what business you're talking about; there's really no one like him. He's the chairman and CEO of.

Dell Technologies. Make great everything, great computers, great everything. Michael Dell is pretty much a legend to be here with him. Really exciting announcement.

It's so amazing and more importantly, he's here with his wonderful wife,

Susan and they have a special relationship. I think I can say that it's really great. I don't see a lot of it. I see the opposite, but I don't see a lot. I have two special people

And I, I've seen it. I've known him for a long time, and I think it's a great thing. CEO of. Ultima Capital, Brad Gertner, where are you, Brad? Brad, Brad Gertner is a great colleague who is very involved in this incredible work.

The thing that we are doing today with the Speaker of the House, Mike Johnson, the Secretary of the Treasury, Scott Besson, and the Chairman of the Senate Committee on Commerce and Science, and Transportation, Ted Cruz.

I want to thank all of you for being here, including the Chairman of the House Ways and Means Committee, Jason Smith, the Vice Chairman of the House Republican Conference, Blake Moore, as well as the Chief Design Officer of the United States, Joe Gebbia, the co-founder of Airbnb. It's a great group.

And I guess a potential Fed chair is here too. I don't know

whether we're allowed to say that. He's a respected person, I can tell you.

Thank you, Kevin. It's Tuesday. I don't know if anyone has heard of this before, but it's actually Tuesday, which is one of the biggest days of the year for philanthropy and charity.

And this afternoon, Michael and Susan Dale are committing to one of the largest private donations in American history. This will directly benefit the next generation of American children through the new Trump Accounts program.

That we made in one of our big beautiful bills, and Michael and Susan came to see me with Brad, and they said, "Oh, you know, that's an idea," and I said, "I think, you know, that sounds great

and very unique. But that's why he's been so successful, and he's been so successful at it. In life and in business, they're unique. Trump's accounts will be.

First of all, I guess you could say there are real trust funds for every American child, allowing family members, employers, corporations, and generous donors to give money that will be invested and developed.

To be used for the benefit of the child throughout their life after they turn 18. So in other words, these are children who are going to be investors who are going to be investors

Continue to grow, we hope, right? We hope, and, ah, but it will happen, and they will, they will feel like they will feel like Michael Dell someday,

But at 18, they will have a lot of money, they will have a lot more money than that, and potentially a lot more money, but these accounts will track the overall stock market 100% of the private assets will be controlled by the children's guardians.

In honor of America's 250th birthday, the Dells are announcing today that they are giving 25 million American children $250 each to save. Invest in your personal Trump account. That's now worth $6.25 billion.

In other words, in short, Michael and Susan are giving away a total of $6250 million. And it's the total contribution that's the big deal. I don't care who you are. It's a big deal. Come here, give me your hand. Let me, let me have a little bit of that fortune.

That's great, Susan. These gifts will be available to the first 25 million children age 10 and under, in zip codes where their median income is $150,000 or less.

So they're giving them to kids who aren't born particularly rich, and hopefully they'll be very rich someday. This will put millions of dollars, hundreds of millions of dollars, of children, and middle-class families at stake.

In American prosperity, benefiting from a rising stock market and a better shot at the American dream. It really gives them a shot. In the American dream, Michael and Susan,

I want to thank you for this extraordinary act of kindness and patriotism, and charity. This is truly the most generous act in the history of our country.

I mean, you don't. You don't hear about things like that, and we have to tell people that he doesn't want it and she doesn't care,

but I do. I think when someone does, you have to tell them about it. As I mentioned, this gift is being made possible by the biggest tax cuts in American history,

which our Republican majority passed earlier this year, and the speaker worked very hard, and John Thune and Jason and everyone of them. Ted, Ted Cruz is with us.

He worked very hard. Getting this, this was the biggest, most consequential bill that they said was ever passed. And you know, if they remember Michael, we were,

they thought we had to put it in 12 to 14 bills. I said I don't know if we can keep it up with the Democrats that long

And we said, let's try it once, and we did, and oh, people were surprised, but we did it. So I congratulate you guys on the great work on this bill,

The federal government will automatically make a one-time set contribution of $1,000 into tax-deferred Trump accounts for every newborn American citizen, fulfilling a promise I made in the 2024 campaign.

The Trump accounts should be worth thousands of dollars by the time the child is 18 and even more by the time they are 20 or 30. We think this is going to be really unique and really special.

We hope that many others will follow Michael and Susan's example and contribute. I will too. For the next generation, including businesses, churches,

philanthropists, family members, and parents themselves, I think we're going to have a lot of people. Susan, I think a lot of people are going to contribute.

There are a lot of people looking at us right now. It may not be over $66 billion. But there will be a lot. There aren't a lot of people in the $6 billion range, but there will be a lot.

A lot of my friends have already told me that they're going to give a lot of money, and a lot of them are going to leave a lot of money in their wills,

so this is very important. Contributing to a Trump account will also be a great benefit for employers to offer their workers, which they can contribute to tax-free.

It's tax-free. We expect hundreds of large companies to announce plans to contribute to these accounts in the coming months, and we've had a lot of interest in that. So, Trump accounts will be available starting July 4th of next year.

And Michael and Susan, again, this is just an amazing process of everything incredible. I mean, the life that you've led can do this,

even a lot of people have good hearts, but they can't give $6250 million. And Michael probably knows you; this is not the last one either. This is not the last one,

but, oh, on behalf of the United States of America, 1 want to thank you both, and I want to thank all three, but I want to thank you both

because you've been my friends and this is a wonderful couple. They're really a wonderful, wonderful people. They're unique, and I'd like you to come

and say a few words. Tell us what's on your mind because what you have on your mind is good. Thank you very much. Thank you very much. Thank you,

Sir, thank you, Mr. President. It's an honor to have you here in the White House. And, you know, when you passed the Invest America Act on July 4th of this year, we were really encouraged to see that happen. And that's something that, uh,

You know, Brad first mentioned it to us in 2021. We thought it was a great idea, and it was amazing that it happened, and we also saw that this

uh act would become a platform. And you know we believe that the smartest investment we can make is investing in children, and this act has created a platform for families and friends and communities and companies

and philanthropists to contribute to these accounts so that they can save and., uh, opportunity and hope and prosperity for millions of children in this country.

And Susan and I are very excited to announce our gift of $6.25 billion to 25 million American children, uh, 10 and under, and our gift will cover most of the children 10 and under

who are not part of the federal program. The median income is $150,000 or less. And I've talked to many other wealthy Americans, philanthropists, and we're sure others will join us

Because, oh, we all understand the incredible impact that this kind of movement can have on the lives of young Americans. So again, it's a great honor for us

to be able to announce this here. You know, when I was, uh, 8 years old, I got a passbook savings account, and I had, I think, about $8 in it

And you would go to a savings and loan, and you would give them 25 percent, and they would stamp your account, and I saw that moment that I was able to earn interest in the early part of my life.

Hopefully, this kind of opportunity will be encouraging for many young people in this country. So again, thank you for the honor of being here. Thank you, thank you, Susan.

Very beautiful. Thank you very much, Susan. Would you like to say something? I just want to say how excited we are to be a part of this. Oh, we believe

When children have a future that they can save, it helps create hope and opportunity, and prosperity for generations to come.

So we're so excited to do this and hope that many people will join us in our efforts. Thank you very much. Thank you, Susan.

Well, first of all, it's an incredible honor to be here, and we wouldn't be here without the passage of the Invest America Act, and everyone here today played a role in making it happen.

Speaker, Ted Cruz, drafted the legislation so that when the President called the Speaker and said, Let's do this in a big, beautiful bill, Congress was ready to act.

They had drafted the legislation. But I couldn't be more grateful for the friendship and partnership of the Dales, which really shows the best of America.

Today is Giving Tuesday, right? And the fact of the matter is, we've talked about the wealth gap for decades, we've talked about so many people

who are left out and behind. This president was elected on a Main Street agenda to bring the rest of America into the game, and that's exactly what he's doing. It's getting every American child,

3.7 million children born every year will now start life with an investment account, estimated at $1,000. And then you have the great philanthropists, great Americans like Michael and Susan,

who are going to put money in those accounts. We're going to be, we're going to be overwhelmed by the number of companies that want to contribute to those accounts. Companies from Uber to Nvidia to T-Mobile are already doing it.

His will. Stay with them and compound for the next 18 years. The Treasury Department is going to do financial literacy with the other branches of government, and we are going to make sure

that all American families have a share in the success of the United States. So every day when the stock market goes up or down, and we believe that in 18 years it will go up, and families will learn the power of compounding.

That this will be a game-changer. People who have a stake in the system and are becoming more and more vested in the system don't want to bring down the system.