Gerstner states 70% of American families will never have an investment account or share in upside.
“70% of families in America don't have and will not have an investment account. They will not have skin in the upside of America. That's bad for all of”
Gerstner proposes federal government seed $1,000 S&P 500 accounts for all newborns since 70% never benefit from investment.
“Seed it with $1,000 in the S and P 500 because today, 70% of families and kids will never benefit from savings or investment, right?”
Gerstner proposes federal government seed $1,000 S&P 500 accounts for 3.7 million children born annually.
“This idea is a bipartisan piece of legislation where the federal government will seed a private investment account for every child born in America. So think about this. 3,700,000 children born a year.”
Gerstner says 70% of Americans lack compounding accounts and proposes $1,000 at birth in private federal accounts.
“We need to get them into the game. So it's a thousand dollars at birth, seeded by the, the federal government, but private accounts.”
Gerstner proposes giving every newborn a $1,000 S&P 500 account with corporate contributions from major companies.
“You start every child at birth, 3,700,000 kids with $1,000 investment account in the S and P 500. It's a four zero one ks from birth.”