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all-in

Ted Cruz wants to give Americans $1K at birth to invest in the stock market…ok

https://www.houstonchronicle.com/politics/texas/article/ted-cruz-tax-cut-plan-20324854.php

lazy reaction is to read this and think: ew, Ted Cruz, next.

BUT this is actually a legislative program and nonprofit started by Brad Gertsner of Altimeter back in 2021 with a mission of eliminating the wealth gap.

i only know this because he introduced it publicly at the /all-in summit in 2023.

it would create a 401k-like investment account seeded with $1k in the S&P500 (which now includes Coinbase!) for each of the 3.7M babies born annually.

Ted Cruz formalized Gertsner's idea into the "Invest America Act," which was incorporate into a tax reform package by the House Ways and means Committee where it was rebranded into... drum roll please...

the "Money Account for Growth and Advancement,"

which, yes, has an acronym of "MAGA" accounts, smh.

anything with an affiliation to MAGA becomes controversial, even though i believe this is one of the most practical, low-effort ways for all future citizens to participate in the growth of the U.S. economy.

what's the major pushback against it?

Economics

Okay we discuss some fairly inane topics when seeding… sometimes we’ll tackle more substantial ideas.

I assume there will be government intervention in the markets before the end of Trump’s term, and the folks pulling strings always come up with new ways to keep the party going.

Would you support > Patriot Accounts - idea $20K invested into an equities portfolio for anyone under age 20 when COVID started (say March 2020) or born since that is transferred to each individual at their 25th birthday.

Idea is to both compensate folks whose education was impacted and create a leveling agent for future generations.  

To make it more popular - limit the investments into US companies who commit to onshore their profits as a way to help encourage reinvestment in America.

Would provide a bridge for a shift toward broadening future social security investments

1 of 2

Similar to https://pressley.house.gov/2023/02/15/pressley-booker-re-introduce-bicameral-baby-bonds-legislation-to-tackle-wealth-inequality

Will check this out.

Figured we would see bigger numbers as part of a future equities bailout / and tie it to companies on shoring profits.

Booker and other Dems have also introduced legislation in the past >

building farcaster | surfing @ venice, ca | eating @ gjusta / gjelina | “lucky me, lucky mud” 🤠

Will check this out.

Figured we would see bigger numbers as part of a future equities bailout / and tie it to companies on shoring profits.

Booker and other Dems have also introduced legislation in the past > 

https://warpcast.com/brixbounty/0x13874cad