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Trump accounts are a new way to redistribute wealth
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Trump accounts are a new way to redistribute wealth

The Seattle Times·Allison Schrager Syndicated columnist·20 days ago
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Economists may disagree about how important the issue of wealth inequality is, but politicians don’t. With a majority of Americans saying the gap between rich and poor is a very big problem, punitive wealth taxes are gaining in popularity and some elected offici a ls are feuding with their wealthiest citizens. Now the wealthy are responding — not just by moving to walled compounds in Miami, but in a more productive way: by giving their money directly to children in lower-income families. First Michael Dell and his wife donated $6.25 billion last year to seed so-called Trump accounts for up to 25 million children with $250 each. Now there are reports that the administration is considering a plan to allow these accounts to accept direct donations of stock from billionaires, who are said to be interested in the idea. It may be a pittance compared to how much billionaire wealth is redirected through the tax system or charitable giving. But it could mark a big shift in how the wealthy donate.…

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