Gerstner proposes $1,000 S&P 500 accounts for all 3.7 million newborns yearly, costing only 3.7 billion annually.
“This is a bipartisan piece of legislation we hope to have introduced in the spring that would cause the treasury to create a $1,000 seed investment account for every child born in America.”
Gerstner proposes seeding $1,000 S&P 500 accounts at birth, treating them like 401(k)s from day one.
“Seed it with a thousand dollars in a lockbox in the S and P 500, and treat it like a four zero one k from birth.”
Gerstner proposes seeding investment accounts with $1,000 at birth alongside Social Security numbers, modeled on 401(k) system.
“At birth, every child gets in Social Security number. We ought to also set up at the exact same time an investment account.”