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Int'l Business Times
12 hours ago
- Politics
- Int'l Business Times
Trump Suggests Greta Thunberg Attend 'Anger Management' After Activist Was Detained by Israeli Forces
President Donald Trump called Greta Thunberg an "angry person" and suggested that she needs to attend "anger management classes" after the young activist was detained by the Israeli Navy while attempting to reach the Gaza Strip. Trump made the comment while answering questions from reporters before an "Invest America" event at the White House on Monday. "Do you have a message for Greta Thunberg, and did she come up on your call with the prime minister today?" asked one reporter, referencing Trump's call with Israeli Prime Minister Benjamin Netanyahu earlier in the day. "Well, she's a strange person. She's a young, angry person. I don't know if it's real anger, it's hard to believe actually, but I saw what happened. She's certainly different. I think she has to go to an anger management class, that's my primary recommendation for her," the president said. "Was she kidnapped by Israel, as she says?" the reporter continued. "I think Israel has enough problems without kidnapping Greta Thunberg," Trump continued. Social media users quickly took to online platforms to express their shock and outrage at the 47th president's response to Thunberg's detention. "Greta: *bringing medical supplies and food to Gaza* trump: 'I think she needs to go to an anger management class,'" wrote one user on TikTok. "Being a humanitarian equals anger in his eyes," said another. "He's talking about someone taking aid to starving children by the way," another added. "Yes she is very different and strange to a narcissist. She has empathy and bravery for trying to help starving people," one user commented. Thunberg, 22, had been on her way to deliver humanitarian aid to Gaza when she and several other prominent activists were detained by the Israeli military while in international waters early on Monday. "If you see this video, we have been intercepted and kidnapped in international waters by the Israeli occupational force, or forces that support Israel," Thunberg said in a pre-recorded video which was then released by the Freedom Flotilla Coalition, who operated the boat carrying the activists. "The 'selfie yacht' of the 'celebrities' is safely making its way to the shores of Israel," the Israel Ministry of Foreign Affairs (MFA) said in a statement. "The passengers are expected to return to their home countries." Originally published on Latin Times
Economic Times
20 hours ago
- Business
- Economic Times
Trump's ‘Baby Investment Accounts': What you need to know
AP Under the plan, each eligible newborn would receive a one-time $1,000 contribution from the U.S. government, deposited into a mutual or index fund. A new proposal backed by US President Donald Trump would create $1,000 investment accounts for every American baby born between Jan. 1, 2025, and Dec. 31, 2028. Known unofficially as "Trump Accounts" or 'MAGA Accounts,' the program is part of a broader tax-cut package that recently passed the House and is now pending in the eligible newborn would receive a one-time $1,000 contribution from the federal government, invested in a stock market-linked mutual or index fund. Additional contributions of up to $5,000 annually could be made by parents, religious institutions, or private donors. Funds would become partially accessible at age 18 for education, job training, or buying a first home, with full access at age 30. Dell Technologies has already pledged to match the government's $1,000 contribution for newborns of its employees, should the proposal become law. Other business leaders — including CEOs from Uber, Goldman Sachs, and Robinhood — attended a recent 'Invest America' roundtable at the White House to discuss the the White House issued a press release claiming support from the industry leaders including Goldman Sachs CEO David Solomon, Uber CEO Dara Khosrowshahi, and Altimeter Capital CEO Brad Gerstner."Together with historic tax cuts, an increased child tax credit, higher wages, and monumental economic growth, the One Big Beautiful Bill will change the lives of middle-class families across America," the release added. However, despite high-profile support, the proposal faces opposition in the Senate, particularly from fiscal conservatives who are pushing for revisions. Critics argue the program lacks the tax advantages of existing savings options like 529 plans and may not offer the strongest long-term returns. What is the Trump baby investment account program? It's a proposed federal initiative that would provide every U.S.-born child between Jan. 1, 2025, and Dec. 31, 2028, with a $1,000 government-funded investment account, tied to the performance of the U.S. stock market. What are these accounts officially called? The accounts are part of the "Invest America" plan and have been informally referred to as 'Trump Accounts' or 'MAGA Accounts' (Money Accounts for Growth and Advancement). How much money does each child receive? Each eligible newborn would receive a one-time $1,000 contribution from the U.S. government, deposited into a mutual or index fund. Can families or others contribute more? Yes. Parents, religious institutions, and private organizations can contribute up to $5,000 per year into the account during the child's upbringing. When can the child access the money? Funds become partially accessible at age 18 for specific uses like education, vocational training, or a first home purchase. The full balance becomes available at age 30. Are there tax advantages? The accounts are tax-deferred, meaning investments grow tax-free until withdrawal — similar to 529 college savings plans, but with a lower annual contribution limit. Who controls the account before the child turns 18? The child's legal guardians would manage the account until the child becomes eligible to access the funds. Is this program already law? No. While the provision passed the House as part of a broader tax package, it's still under review in the Senate and faces opposition from some fiscally conservative lawmakers. Which companies support this plan? Dell Technologies has pledged to match the $1,000 for newborns of its employees if the plan passes. Executives from Goldman Sachs, Uber, Robinhood, and others have shown interest by attending White House discussions. How is this different from a 529 plan? 529 plans typically allow higher contributions and are geared specifically toward education. Trump accounts are broader in usage and provide an initial government-funded seed investment.
Time of India
a day ago
- Business
- Time of India
Trump's ‘Baby Investment Accounts': What you need to know
Live Events FAQs: Trump's Savings Plan for Newborns (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel A new proposal backed by US President Donald Trump would create $1,000 investment accounts for every American baby born between Jan. 1, 2025, and Dec. 31, 2028. Known unofficially as "Trump Accounts" or 'MAGA Accounts,' the program is part of a broader tax-cut package that recently passed the House and is now pending in the eligible newborn would receive a one-time $1,000 contribution from the federal government, invested in a stock market-linked mutual or index fund. Additional contributions of up to $5,000 annually could be made by parents, religious institutions, or private donors. Funds would become partially accessible at age 18 for education, job training, or buying a first home, with full access at age 30. Dell Technologies has already pledged to match the government's $1,000 contribution for newborns of its employees, should the proposal become law. Other business leaders — including CEOs from Uber, Goldman Sachs, and Robinhood — attended a recent 'Invest America' roundtable at the White House to discuss the the White House issued a press release claiming support from the industry leaders including Goldman Sachs CEO David Solomon, Uber CEO Dara Khosrowshahi, and Altimeter Capital CEO Brad Gerstner."Together with historic tax cuts, an increased child tax credit, higher wages, and monumental economic growth, the One Big Beautiful Bill will change the lives of middle-class families across America," the release despite high-profile support, the proposal faces opposition in the Senate, particularly from fiscal conservatives who are pushing for revisions. Critics argue the program lacks the tax advantages of existing savings options like 529 plans and may not offer the strongest long-term a proposed federal initiative that would provide every U.S.-born child between Jan. 1, 2025, and Dec. 31, 2028, with a $1,000 government-funded investment account, tied to the performance of the U.S. stock accounts are part of the "Invest America" plan and have been informally referred to as 'Trump Accounts' or 'MAGA Accounts' (Money Accounts for Growth and Advancement).Each eligible newborn would receive a one-time $1,000 contribution from the U.S. government, deposited into a mutual or index Parents, religious institutions, and private organizations can contribute up to $5,000 per year into the account during the child's become partially accessible at age 18 for specific uses like education, vocational training, or a first home purchase. The full balance becomes available at age accounts are tax-deferred, meaning investments grow tax-free until withdrawal — similar to 529 college savings plans, but with a lower annual contribution child's legal guardians would manage the account until the child becomes eligible to access the While the provision passed the House as part of a broader tax package, it's still under review in the Senate and faces opposition from some fiscally conservative Technologies has pledged to match the $1,000 for newborns of its employees if the plan passes. Executives from Goldman Sachs, Uber, Robinhood, and others have shown interest by attending White House discussions.529 plans typically allow higher contributions and are geared specifically toward education. Trump accounts are broader in usage and provide an initial government-funded seed investment.
UPI
a day ago
- Business
- UPI
Trump, CEOs unveil 'Invest America' savings accounts for newborns
June 9 (UPI) -- President Donald Trump on Monday unveiled plans for the U.S. government and companies to collectively invest money in savings accounts for employees' children as part of the $1.45 trillion discretionary spending bill. The "Invest America" roundtable in the State Dining Room at White House included CEOs from several companies, as well as U.S. House Speaker Mike Johnson and other House members. The budget bill passed narrowly by the U.S. House last month and has moved to the Senate. Republicans want the bill signed by Trump before the Fourth of July. The federal savings program has been referred to "Trump accounts," "Money Accounts for Growth and Advancement" and "MAGA Accounts." The pilot program would seed index fund accounts with $1,000 in Treasury Department funds for U.S. citizens born between Jan. 1, 2025, and Dec. 31, 2028. Companies, employees, other family members and friends also can make post-tax contributions up to $5,000 annually. The CEOs participating were Michael Dell of Dell Technologies, Brad Gerstner of Altimeter Capital, Rene Haas of Arm Holdings, Parker Harris of Slack and Salesforce, William McDermott of ServiceNow, Dara Khosrowshahi of Uber, David Solomon of Goldman Sachs, Vladimir Tenev of Robinhood. "They really are the greatest business minds we have today," Trump said. "These men and women lead large, successful companies. And they are committed to contributing millions of dollars to the Trump account. It's really to be something incredible for children and their employees." He singled out Dell, who months ago presented the idea to the president. He started his company from a garage in 1984 in Austin, Texas, and it has grown into a company worth $78 billion. Dell said his company will match dollar for dollar the $1,000 from the government and his foundation will make a "significant gift." The computer CEO called it a "simple yet powerful way to transform lives. ... This is an investment in our people, their families, our communities and America's future." Trump said: "Extensive research shows children with savings accounts are more likely to graduate high school and college, buy a home, start a business and are less likely to be incarcerated." The accounts' performance will be based on a U.S. stock market's index fund. The accounts would be controlled by children's guardians until they turn 18. The account beneficiary will be able to withdraw up to 50% of their balance beginning at age 18 with full access at 25 for qualified purposes and no restrictions at 30. A $1,000 investment in the Standard and Poor 500 exchange-traded fund trust made 18 years ago would be worth $5,590 today, according to FactSet data. That same investment 31 years ago would be worth $22,770. The pilot program is similar to other savings account options, including 529 college savings plans, which also have contribution limits. Some already offer a type of "baby bonds" program for parents. They are also like 401 (k) accounts offered by businesses with tax savings and the power of compound interest over several years. "Trump accounts take it from the same principle and they apply it from the very beginning of Americans' lives," Johnson said. "It is a pretty simple concept." The savings account proposal is one small aspect of the budget legislation. "The passage of the One Big Beautiful Bill will literally change the lives of working, middle class families across America by delivering the largest tax cuts in history, increasing the child tax credit, and by creating this incredible new 'Trump Account' program, which will put the lives of young Americans on the right financial path!" White House press secretary Karoline Leavitt told CNBC in a statement. The legislation includes an extension of expiring tax cuts from 2015 and money for immigration. Some Republicans, as well as Elon Musk, who ran the Department of Government Efficiency, don't want to add the debt of $26.2 trillion. The Congressional Budget Office projects it will increase federal deficits by about $2.4 trillion over a decade. "I didn't go out to craft a piece of legislation to please the richest man in the world," Johnson, R-La., said in response to Musk's criticisms in an interview with ABC News on Sunday. "What we're trying to do is help hardworking families who are trying to make ends meet."
Miami Herald
a day ago
- Business
- Miami Herald
Trump, CEOs to unveil savings accounts for newborns
June 9 (UPI) -- President Donald Trump on Monday afternoon will meet with several companies' chief operating officers in a roundtable about plans to collectively invest several billion dollars into savings accounts for the children of their employees. The "Invest America" event is scheduled to take place at 2 p.m. EDT in the White House. The CEO participating are Michael Dell of Dell Technologies, Brad Gerstner of Altimeter Capital, Rene Haas of Arm Holdings, Parker Harris of Slack and Salesforce, William McDermott of ServiceNow, Dara Khosrowshahi of Uber, David Solomon of Goldman Sachs, Vladimir Tenev of Robinhood. The pilot program would seed index fund accounts with $1,000 in Treasury Department funds for U.S. citizens born between Jan. 1, 2025, and Dec. 31, 2028. Companies can also contribute to the tax-deferred accounts. Once a child turns 18, money can be used for education expenses or credentials, down payment on a first home or capital to start a small business. Sen. Ted Cruz, R-Texas, said the accounts give children "the miracle of the compound growth, the ability to accumulate wealth, which is transformational." The funds will track the overall U.S. stock market. Additional contributions of up to $5,000 per year will be allowed. The accounts would be controlled by children's guardians until they turn 18. The pilot program is similar to other savings account options, including 529 college savings plans, which also have contribution limits. Some already offer a type of "baby bonds" program for parents. The federal savings program was previously referred to as "Money Accounts for Growth and Advancement" or "MAGA Accounts." The provision is part of the massive budget bill passed narrowly by the U.S. House last month and has moved to the Senate. Republicans want the bill signed by Trump before the Fourth of July. "The passage of the One Big Beautiful Bill will literally change the lives of working, middle class families across America by delivering the largest tax cuts in history, increasing the child tax credit, and by creating this incredible new 'Trump Account' program, which will put the lives of young Americans on the right financial path!" White House press secretary Karoline Leavitt told CNBC in a statement. The legislation includes an extension of expiring tax cuts from 2015 and money for immigration. Some Republicans, as well as Elon Musk, who ran the Department of Government Efficiency, want to add to the deficit. The Congressional Budget Office projects it will increase federal deficits by about $2.4 trillion over a decade. "I didn't go out to craft a piece of legislation to please the richest man in the world," House Speaker Mike Johnson, R-La., said in response to Musk's criticisms in an interview with ABC News on Sunday. "What we're trying to do is help hardworking families who are trying to make ends meet." Copyright 2025 UPI News Corporation. All Rights Reserved.
