>>509532595 (OP)>>509532706>The legislation includes a new savings account for children with a one-time deposit of $1,000 from the federal government for those born in 2025 through 2028.>Parents would then be able to contribute up to $5,000 a year and the balance will be invested in a diversified fund that tracks a U.S. stock index. Employers could also contribute up to $2,500 to an employeeโs account and it wouldnโt be counted as income to the recipient.>Earnings grow tax-deferred, and qualified withdrawals are taxed as long-term capital gains.In 18 years it's fuck all (probably around 2000 from my quick guess)
However if your parents are wealthy enough to contribute to it yearly, it'll grow substantially, though you probably didn't need it in the first place then.
It basically ends up being a retirement account, except it guarantees that everyone born between Jan 1st, 2025 and Jan 1st, 2029 (assuming it doesn't get extended) will now be in favor of giving further benefits to people who game the Capital Gains Tax.
Which I think is the actual goal of this, since that means it'll become EXTREMELY unpopular in the US to go after rich people who game the system when a partial generation has their future wealth tied up in the same system.
>>509533210See above.