Did anyone else receive this email from the Social Security Administration? This whole thing sounds like a scam. The philanthropist donor list is also…something too.
Last year, President Donald J. Trump signed into law the Working Families Tax Cuts, which included a historic tax cut for America’s seniors. That law also created Trump Accounts, individual investment accounts for America’s children designed to grow with the U.S. economy and build long-term savings.
Today, nearly 70 million Trump Accounts are open for all American children. Parents and legal guardians simply need to claim their child’s Trump Account through the official Trump Accounts app, available to download for free in the Apple App Store and Google Play.
Once activated, the account can receive funds from family, friends, and employers, as well as gifts from generous donors. Tens of millions of accounts already have money contributed by donors in them, just waiting to be claimed.
At Social Security, we are informing families about how they can activate their child’s Trump Account—many accounts with money already in them. We are also communicating with parents of newborns about the one-time $1,000 contribution from the U.S. Treasury, available to children born between Jan. 1, 2025, and Dec. 31, 2028.
Trump Accounts are one of the most significant investments in the next generation of Americans in our nation’s history, by giving every American child a stake in our country’s success and a strong financial foundation for the future.
To learn more about Trump Accounts, visit TrumpAccounts.gov.
Here’s the scam: https://www.rawstory.com/trump-accounts-2678064061/
Basically it’s a way to dump stock and saddle the next generation with debt.
Thanks for the link, so its exactly like I thought it would be. Fuckers.
Flagrantly pro-Trump email arriving at the start of midterms voting… Very suspicious.
Requires an app - presumably so they can skim as much personal info off the device as possible and then explore it and sell it on to shady brokers.
Even the name ‘Trump Accounts’… Yet again everything revolves around his ego. “B-but Obamacare!” Yeah, he didn’t call it that. He referred to it by it’s official name. Obamacare was a name his opponents used to try to tarnish the program. Eventually he came to embrace it, mostly as a way of trying to own it and take the negative spin off it.
It is, its all so ridiculous and has this tone that we are teasing you with this great totem…but man, this line here is what got me though…like really? Very snake oil salesman like, act now before its gone!
Tens of millions of accounts already have money contributed by donors in them, just waiting to be claimed.
Not touching that shit with a 10 foot pole.
Right? This just seems like it could be exit liquidity for all these AI companies and whatever ends up happening with Spacex when the rug gets pulled.
That’s exactly what I think it is
The whole app thing is creepy as well 26K reviews lol.
I searched Lemmy to see if anyone else got this email as I was just completely flabbergasted by this scammy shit coming from our government.
Thank you! I couldn’t believe this was official government communication. I am however curious if anyone has opened one of these accounts to find thousands of dollars in them from generous philanthropists lol
My coworkers were talking about this when it passed.
I’m all for people taking advantage of programs that are beneficial, but this just screams “creating yet another government registry”.
Agreed, this just comes off as a nefarious way to track people’s kids, and possibly use them as exit liquidity when the financial rug gets pulled…
What do you mean exit liquidity?
Use these accounts to fund certain companies or index funds that favor ai companies or special interest companies that are high risk or in a bubble, buying in at peaks to prop up the company which allows founders/ceo’s to pull their wealth out of the company as cash and bestow the debt upon the shareholders. See below
Exit liquidity refers to the availability of buyers in the market when an investor wants to sell an asset, allowing them to do so without significantly affecting its price. It is crucial for investors as it determines how easily they can convert their investments into cash.
He’s using the official national database of people to run yet another scam, and invoking children as well.
How can an account not opened yet have money in it? Turns out the plan all along was to make people so desperate and worried about the future that they’d bite into even this obvious a hook.
It is weird…very tv sales person like, act now while supplies last…
From what I’m guessing they are essentially merging a custodial account like Charles Schwab offers, and saying to enroll you can do so while filling your taxes. Only kids born 2025-now would get a 1 time account opening bonus kind of like when you open a checking/savings or other promotional account.
So while they are saying the accounts are opened with money already in them that would be a vast stretch of the truth. Also since there has really only been about 5,000,000 births since 2025, the other 65,000,000 accounts they are claiming would not be eligible for getting any kind of bonus.
That said this information would be coming from Chime who is partnering with them and they do not appear to be confident in it either: https://help.chime.com/account-security-00b00e5a/taxes-7d96431b/what-is-a-trump-account-66939cc7
"The $1,000 seed contribution Children born between January 1, 2025 and December 31, 2028 may receive a one-time $1,000 seed contribution from the U.S. Treasury. Children born before 2025 can still have a Trump Account opened but will not receive the seed contribution.
About the seed contribution: The $1,000 is paid by the U.S. Treasury — not Chime. It is not part of your tax refund and does not go to your Chime account. It goes directly into your child’s Trump Account and is expected to be issued in summer 2026."
Thanks for the added context. So many grifters involved. Smh.
The email suggests you have to download the app to setup the account, which also leads you to trumpaccounts gov.
