Republicans are proposing to turn American babies into tiny investors by awarding them $1,000 in a so-called Trump Account.
Senator Ted Cruz has been championing the baby-bond style accounts after a chance conversation over a poker game in Las Vegas last year led him to tech investor Brad Gerstner, an advocate for creating investment accounts for children in the US.
“This will make every new child a capitalist,” Cruz told the Financial Times. “Ten years from now, [when] a 10-year-old pulls out the app on his phone and looks at his account, he will no longer think of big, bad corporations, but he’ll look and say, Hey, I own 100 bucks worth of Apple. I own 75 bucks of Boeing. I own 50 bucks of McDonald’s.
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