Huge, Transformative Victory: Invest America 401k Accounts for Every Newborn Child in America
The Ben Ferguson Podcast
iHeartPodcasts
4.9 • 4.7K Ratings
🗓️ 14 May 2025
⏱️ 52 minutes
🧾️ Download transcript
Summary
🔑 Invest America Initiative
- Core Idea: Automatically create an investment account for every newborn in the U.S., seeded with $1,000 from the government.
- Contribution Cap: Up to $5,000 per year can be added to the account in a tax-advantaged way by family, friends, employers, or philanthropists.
- Investment Strategy: Funds would be invested in broad market instruments like ETFs or mutual funds tied to the S&P 500.
- Goal: To promote financial literacy, economic mobility, and long-term wealth accumulation for all children, regardless of socioeconomic background.
🧠 Key Arguments in Favor
- Compound Growth: Starting at birth allows for decades of compounding, potentially resulting in hundreds of thousands of dollars by adulthood.
- Capitalist Mindset: Encourages children to become stakeholders in the economy, fostering a pro-capitalist outlook.
- Bipartisan Appeal: Though led by Republicans, the initiative has conceptual overlap with Democratic proposals like Cory Booker's "baby bonds."
- Private Sector Support: Backed by major CEOs and companies, with commitments to contribute to employee children's accounts.
- Philanthropic Potential: Wealthy individuals and foundations could match or supplement contributions, especially for low-income families.
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Transcript
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| 0:00.0 | You're listening to an IHeart podcast. |
| 0:05.0 | Hi, I'm Bob Pittman, chairman and CEO of IHeart Media. |
| 0:08.4 | On this week's episode of Math and Magic, I'm sitting down with a one and only Bobby Bones. |
| 0:13.4 | We're exploring the power of audio. |
| 0:15.8 | Yeah, I don't fit into one specific hole. |
| 0:18.1 | I think that is what endeared me to listeners. That's why I'm here now, |
| 0:22.4 | because I talk to people that grew up like me, have sensibilities like me, and have loyalties |
| 0:28.4 | like me. Listen to math and magic, stories from the frontiers of marketing on the IHeart |
| 0:32.9 | radio app, Apple Podcasts, or wherever you get your podcast. In the fall of 1986, Ronald Reagan found himself at the center of a massive scandal |
| 0:42.2 | that looked like it might bring down his presidency. |
| 0:45.6 | He became known as the Iran-Contra affair. |
| 0:49.2 | The things that happened were so bizarre and insane, I can't begin to tell you. |
| 0:55.0 | Please do. |
| 1:04.3 | To hear the whole story, listen to Fiasco, Iran Contra on the IHeart Radio app, Apple Podcasts, or wherever you get your podcasts. Welcome, and his verdict with Senator Ted Cruz, Ben Ferguson. |
| 1:11.6 | With you and Senator, this is one of those shows and I just want to tell everybody, please |
| 1:16.2 | take this show and share it wherever you can on social media because this is one of those |
| 1:23.0 | shows that could have a massive impact on this country dealing with a really important issue and an idea that has have a massive impact on this country, dealing with a really important issue and an |
| 1:29.9 | idea that is becoming very close to reality that could fundamentally change this country for |
| 1:36.0 | every single child that's born. Well, Ben, that is exactly right. This week was a momentous week. |
| 1:42.5 | It was a momentous week in Washington and in the country. |
| 1:45.1 | So this week, the House Ways and Means Committee, which is the tax writing committee in the |
| 1:49.1 | House, rolled out their reconciliation bill. And I will tell you in that bill, there were four |
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