What Are Universal Savings Accounts?
The White House is expected to announce details on tax cuts for Trump’s second term. One of the ideas on the table is to create tax-free investment accounts for individuals and families. This week, Heritage’s Adam Michel, explains what a “Universal Savings Account” is and how if we can get Americans on board with the idea — President Trump would be taking a major step in replacing the entitlement culture with self made wealth.
A Tax-Cut Idea for Trump
https://www.wsj.com/articles/a-tax-cut-idea-for-trump-11582071863
A Road Map for Universal Savings Accounts in America
https://www.heritage.org/economic-and-property-rights/report/road-map-universal-savings-accounts-america
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I love these advantages of a Universal Savings Account, but respectively there is something better that already exists.
Here is a video that explains something that has been time tested for over a hundred years, is safer, less restrictive, more flexible, has USE of your savings WHILE it is still earning compound interest, AND you will never pay tax on the growth, and if leaving an inheritance to your children's children is important to you this includes that as well.
I highly encourage you to watch this 27 minute video and if I can answer any questions, you know how to reach me! God Bless! 🙂
Click to view The Banker's Secret to Permanent Family Wealth – https://chrishanson.smartestwealth.com/asset/show?id=5TNIII96
I'm glad to see an investment cap of 10k annually. It would fit middle class families incomes and keep the rich from using it as another tax shelter, they have enough. Trump could open this account on the Caiman islands and give investors back all their money completely tax free just like the politicians!
The problem is, the elites who control the government don't really want the average American to be financially secure. The concept of the average citizen being financially secure would hurt banking and predatory businesses that prey upon middle and lower class Americans. These businesses make HUGE money financially harming people. There are whole industries aimed at people struggling in an ever expensive and financially prohibitive society.
Could you imagine the lost revenue the government and by proxi the elites would incur? They won't allow that. Sadly I dont think this will ever come to fruition in my lifetime.
And who would be deciding how and where and when the capital in these accounts would be invested? The banks? The government?
What everyone seams to for get in America the Government works for we the people and what they've been doing for the past 25 year's or more isn't working for anyone except for them and the big corporations and not working for we the people as it's suppose to be and it's time we the people decide what we want and tell the Government what we are going to have just like we did on 2016 when we showed the Democratic's communist party our country wasn't on the right path for we the people and don't get me wrong I thank every politician in our government is corrupt some more than other's and we've let it go on entirely to long our country is not the world's police or the food providers if the world spending our tax dollars in some other country when we have our own people starving and homeless I'm all for helping other countries in need but our tax dollars shouldn't leave our country until our own people have been taking care of first and it shouldn't be used to make the politicians and big corporations rich either and it time we the people stop letting the politicians tell us what we're going to have and start telling them what we the people are going to have like it's supposed to be and if they don't like it they can get the hell out of politics or swing from a rope ⚖️👍🇺🇸
Can it be rolled over from IRA's without tax?
No need to start some new classification. Just eliminate the penalties and restrictions for the average person, period. Restructure the tax code towards a simple percentage tax. The same percentage for everyone. Government needs to love within its means, rather than living off ours and that of future generations. As of now, our economic and taxation systems are just ponzi schemes.
Robinhood and webull free stock buying accounts are the way to go.finally a president/ politician that doesn't want to tax everything you do.KAG TRUMP2020
I like this idea. I hope President Trump follows through with this idea.
Just think. I won't have to pay tax on that .0185% interest I'm currently getting.
With the tax savings, I can afford to go out for dinner once a year. By myself.
how about just making regular investment accounts tax free under certain limitations
I don't mind this option, however it would have to have an income cap.
It's interesting to see people fighting over what government things are right or wrong, when we should individually be trying to do the best for OURSELVES, as well as encouraging people to do the best for them and their families as well. At the end of the day, there isn't any government that would take care of us to a level of comfort that we'd be happy with, so we need to fight for what's best on a personal, and communal level.
If you would get rid of the repulsive Ben Shapiro I would resubscribe.