Speaking of which, while MG is lauding the Dells for their perceived altruism (haha, yet again he’s going to bat for those who take advantage of his deference to wealth and power), one must understand a Roth IRA is vastly superior because it is funded with after-tax dollars to guarantee 100% tax-free investment growth and completely tax-free withdrawals in retirement.
In contrast, Section 530A "Trump Accounts" offer no tax deduction on your contributions, yet force your child to pay full ordinary income tax on all market gains when the money is taken out, severely degrading long-term compounded wealth. Additionally, while a Roth IRA lets you withdraw your original contributions at any time without tax or penalty, a Trump Account locks funds away until retirement age under threat of a strict 10% IRS penalty.
Let’s not even get into the long-term advantages of managing these wealth funds, tax advantages for the wealthy who donate to this, the very real information brokering that’ll occur, and access to securing hundreds of billions in long-term, captive assets under management.