Treasury Secretary Warns Trump Baby Accounts May Privatize Social Security
TL;DR
Treasury Secretary Scott Bessent criticizes the newborn savings accounts created under Trump's tax law, claiming they serve as a 'back door' to privatize Social Security by allowing tax-deferred investments for newborns, with contributions up to $5,000 annually until age 18.
- Trump’s newborn savings accounts a ‘back door for privatizing Social Security,’ Bessent says The Washington Post
- Treasury secretary calls new Trump accounts ‘a backdoor’ way to privatize Social Security CNN
- Treasury Secretary Says Trump Accounts Could Pave Way to Privatizing Social Security The New York Times
- Bessent calls Trump baby accounts 'backdoor for privatizing Social Security' Reuters
- Bessent hails new ‘Trump accounts’ as ‘backdoor for privatizing Social Security’ Politico
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