David Zervos
@DavidZervosDC
Counselor to the US Secretary of the Treasury —— (The opinions shared here are my own and do not necessarily reflect those of the US Treasury Department)
Joined May 2011
189 Following 22.7K Followers
If for some crazy reason an individual does not want to accept the returns from a philanthropic gift of Treasury-approved stock in their Trump account, they can always withdraw the proceeds penalty-free at the age of 59½ and then donate the after-tax profits back to the American people. Here's a link on the US Treasury website to do just that:
Bottom line: Trump account holders are under no obligation to monetize and spend the gains from any investment gifted to them by a donor. Sadly, the administration could design a program to give kids more nutritious school lunches, and folks like @NickTimiraos and @greg_ip would complain about how it raises the risk of global warming or violates their cherished DEI principles.
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"The initial rollout of the program encouraged children to be invested broadly in American companies. The latest shift ties kids’ wealth building directly to the fate of particular companies, depending on who donates."
"Under the rules that took effect last week, charities controlled by wealthy people—with Treasury Department approval—can put individual stocks into the accounts of thousands or millions of children. They can target groups of at least 5,000, sorted by age, geography or both."
via @RichardRubinDC @ashleaebeling
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