The new Trump accounts for kids: The good, the bad, and the icky

Trump has introduced a new type of child investment account, officially known as 530A IRAs, which started accepting contributions on July 4. These accounts aim to help parents invest for their children's financial future, potentially addressing income inequality by giving more families a chance to provide a financial boost to their kids. While the idea has some merit, there are concerns about the political implications and whether it will truly help level the playing field or just benefit those who can afford it. This move is significant as it represents a novel approach to tackling income disparity in the U.S.