It’s well-known that Donald Trump loves to send taxpayer dollars directly to voters with packaging intended to make the bounty seem like a gift from his own self. So it’s not surprising that his signature One Big Beautiful Bill Act had a provision creating something called “Trump Accounts” that would be set up for all American children born between 2025 and 2028 with a $1,000 “seed deposit” from the federal government. A nice birthday gift for these kids, right?

Well, yes, but it’s likely to be a bigger gift for America’s more fortunate sons and daughters than for poorer kids. “Trump Accounts” are loosely based on an idea two progressive economists (Derrick Hamilton and William Darity) developed in 2010, known as “baby bonds.” Their motivation was to find a way to disrupt deeply e

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